Luna Classic — Revived!
History was made today!
Luna Classic is officially revived. We now have 74% of the validators onboard the new V22 Luna Classic code.
It just happened less than an hour ago, when Orion.Money uploaded the V22 code onto their platform, officially bringing Luna Classic above the 66% validator threshold needed to approve transactions and run the network.
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Since the fall of Terra Luna (now Luna Classic) back on May 9th, 2022, the entire crypto world has been living on the brink of total demise. The depeg of Terra UST algorithmic coin sent a cosmic shockwave through the crypto galaxy, ushering in the collapse of Celsius, Three Arrows Capital, Voyager Digital, amongst others.
As Terra Luna plummeted to its own abyss from the heights of $93 to a price of $0.000000999967, I was amongst the millions of original investors who saw in Terra Luna an irrational potential to rebound and become the most powerful crypto platform in the entire crypto space.
Once the token stabilized at the bottom, I began to buy Terra Luna coins at huge discounts. Within 24 hours, I had recovered all the losses I had suffered and made a small profit.
In the months that followed, Terra Luna was forked into two separate ecosystems,Luna and Luna Classic. The new Luna became the official token of Terra.Money and Luna Classic was left without any support, as an abandoned chain.
This was followed by the emergence of Terra Rebels, a volunteer group of developers, who took on the job of upgrading and reviving the abandoned Luna Classic platform.
It is to Terra Rebels that we owe this monumental achievement! They have developed all the codes for staking and validation, and also the 1.2% burn tax proposal that is part of the new Luna Classic code, V22. In addition, they also have led the entire process of engaging with Terra Luna Foundation, the validators, and exchanges in order to implement the V22 Luna Classic code, the very code giving life to the old network.
Today, we have over 66% of the validators needed to run Luna Classic; we have the commitment by Binance, the largest crypto exchange, that they will officially include the 1.2% burn tax feature onto their exchange.
This is a day of celebration — the day that Luna Classic — the Crypto Phoenix — finally lifted off the ground on its own power, taking its first flight towards the infinite horizon!
It is also a day of contemplation ! We need to take a moment to appreciate how lucky we are to have selfless individuals and institutions across the world who came to the rescue of Luna Classic.
I personally Thank all of you for the gift of hope that Luna Classic represents. Without you, all would be lost!
Disclosure:
In compliance with the financial disclosure requirements, I must inform you that I am not an investment advisor. This article is for information only. Do your own research. Furthermore, I own Luna, including units which I purchased before and after the UST/USD depeg.
