Terra’s revival plan has now been officially approved by 66.5% of holders.
According to the proposal, the Terra 2.0 blockchain will now be formally launched on May 27, starting with an airdrop of new LUNA tokens to existing chain holders.
In addition, Terra Validator Orbital Command also announced in a tweet that the Terra 2.0 testnet is currently operational.
The blockchain will now take a snapshot of its 7,790,000th block by May 26, with the airdrop starting later this week. The first liquidity from the airdrop will be divided equally across big and small holders of the old LUNA.
The voting was attended by about 83.38% of LUNA holders (305.98 million holders). Almost 21% of those polled did not vote, while more than 13% voted against the decision.
The move has been vetoed by 13.2 % of voters. Terra has not yet announced how they would handle the veto.
Do Kwon, the creator of Terra and Terraform Labs (TFL), recently announced that they were gathering snapshot data from key exchanges for the airdrop. The airdrop will be available to LUNA and UST holders across all Terra DeFi devices.
