History was made today!
Luna Classic is officially resurrected. There are now 74% validators in the new V22 Luna Classic code.
Just under an hour ago, when Orion.Money uploaded the V22 code to their platform, Luna Classic officially passed the 66% validator threshold needed to approve transactions and run the network.
Since the fall of Terra Luna (now Luna Classic) on May 9, 2022, the entire crypto world has been living on the brink of total demise. Terra UST’s depeg sent a cosmic shockwave to the crypto galaxy, causing the collapse of companies like Celsius, Three Arrows Capital, Voyager Digital, and more.
As Terra Luna fell from a high of $93 to a price of $0.0000085, I was one of the millions of original investors who saw in Terra Luna the irrational potential to bounce back and become the most powerful crypto platform in the entire crypto space .
Once the coin stabilized at the bottom, I started buying Terra Luna coins at a huge discount. Within 24 hours, I recovered all my losses and made a small profit.
Over the next few months, Terra Luna was split into two separate ecosystems, Luna and Luna Classic. The new Luna becomes the official token of Terra.Money, Luna Classic has no backing and becomes an abandoned chain.
Then came Terra Rebels, a volunteer group of developers tasked with upgrading and restoring the abandoned Luna Classic platform.
It is because of Terra Rebels that we have achieved this monumental achievement! They developed all the code for staking and verification, as well as the 1.2% burn tax proposal as part of the new Luna Classic code V22. Additionally, they led the entire process of working with the Terra Luna Foundation, validators, and exchanges to implement the V22 Luna Classic code, which brings the old network to life.
Today, we have over 66% of the validators needed to run Luna Classic; we have a commitment from the largest cryptocurrency exchange, Binance, that they will officially incorporate a 1.2% burn tax feature into their exchange.
It's a day to celebrate - the Luna Classic - the crypto phoenix - finally lifts off under its own power, taking to the infinite horizon for the first time!
It’s also a day for contemplation! We need to take a moment to appreciate how lucky we are to have selfless individuals and institutions around the world saving the Luna Classic.
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