Terra 2.0 is officially live
the first block of Terra’s new blockchain officially been produced this morning at 7 o’clock (French time). The blockchain mainnet is now called “ Phoenix-1 “.
1/ Block 1 of the brand new Terra blockchain (with a chain_id of “Phoenix-1”) has officially been produced at 06:00 AM UTC on May 28th, 2022!
Congratulations to the #LUNAtic community on this expeditious feat of collaboration 🎉
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 28, 2022
As stated in the Terra press release, the decentralized applications (dApps) having chosen to follow the path of the fork will have to “restart” on this new network. Also, we advise you to follow the announcements made on their social networks (Twitter, Telegram) for this purpose.
On a model similar to the previous one, it is also already possible to delegate their LUNAs to network validators to be rewarded for it. Note that your staking rewards will be redeemable at any time.
👉 To dive deeper: How to set up a Terra Station wallet for Luna and Anchor?
What about new tokens?
As announced by Do Kwon via Twitter, it is already possible to view the LUNA in your possession from the Terra Station wallet. To do this, simply connect to it and refresh the page.
If you don’t see them, check that you are connected to the network. Mainnet from the wallet. To do this, go to the application options then select ” Mainnet at line level Network “.
To return to the network classic (especially if you have UST or aUST), just select the latter instead.
It seems that for a number of users, the new tokens are only visible from their computer wallet. Also, if you do not see them from your wallet on mobile, we invite you to check on your PC.
According to Do Kwon, the Terra Finder block explorer is up and running for the new network. It should therefore already be possible to view your transactions or the status of your wallet if necessary.
Note that as stated in Do Kwon’s fork proposal, the majority of new tokens are locked for a variable period of time, in particular in order to avoid a massive resale. It is therefore normal that the number of LUNA tokens appearing in your wallet may seem low.
👉 Read: Terra community pool USTs will be burned following a massive vote
About the Author : Maximilien Prue
Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.