Crypto exchanges have pledged support to Terra’s upcoming relaunch, following the passing of a proposal to launch a new blockchain.
The announcements follow the passing of “proposal 1623,” put forward by Terraform Labs CEO Do Kwon, by the Terra community. The proposal is an attempt by Kwon to revive the crashed Luna ecosystem, which collapsed earlier this month after its algorithmic stablecoin UST depegged from the U.S. dollar.
The collapsed LUNA token, which will be renamed Luna Classic (LUNC) following the Terra relaunch, is down over 9% over the past 24 hours and currently trades at $0.0001549, according to data from CoinMarketCap.
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