Backers of Terra have voted to revive the failed cryptocurrency venture without its controversial UST stablecoin. The proposal would lead to the creation of a new Terra blockchain (Luna 2.0) and its associated luna token. Under the new proposal, Terra plans to distribute tokens to holders of the old luna — soon to be renamed “luna classic” — and UST tokens. About 30% of tokens will go to a pool of investors in the Terra community; 35% will go to those who held luna before its collapse; 10% to pre-collapse UST holders. A further 25% of tokens will be allocated to traders who still own luna and UST after the crash.

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