On May 26th, Terra reportedly disclosed details regarding an upcoming airdrop of the new native token for its new blockchain, going by the name “Terra 2.0”. 

Specifically, regardless of the death spiral of its token which sent shockwaves throughout the crypto sphere, Terra, having been able to obtain financial and additional support from crypto exchanges, are working on a revival plan. 

The distribution of tokens will commence on the following day, with holders of Terra Luna Classic (LUNC), TerraUSD Classic (USTC) and Anchor Protocol UST (aUST) who are eligible will receive new tokens. 

Crypto exchanges Binance and FTX further claimed that they are keeping a close collaboration with the Terra team regarding the upcoming airdrop. 

Binance also revealed its plan to assist the affected users on the platform via helping Terra with the recovery plan.

FTX additionally issued an update stating its intention of supporting the airdrop and temporarily halt LUNA and UST markets during the migration. The Terra team said that apart from Binance and FTX, it’s also working closely with extra partner exchanges that will support the airdrop.

Besides the airdrop, numerous crypto exchanges, such as KuCoin, also expressed support for Terra 2.0 via throwing their weigths behind the migration, listing and trading of the new Terra tokens on their platforms. 

However, not all exchanges share an eager attitude towards the listing of the new tokens. In a statement, a crypto exchange BitMEX representative reportedly claimed that at the moment, the exchange has no intention of completing the listing of the new Terra tokens.

“We list tokens for spot trading based on numerous factors, including that we have a custody solution for that particular token. As such, we have no plans at this stage to list LUNA for spot.”