Do Kwon, the co-founder and CEO of Terraform Labs, reportedly shared his confirmation regarding the release of Terra’s new chain – Terra 2.0 –  a revival attempt for the fallen Terra (LUNA) and TerraUSD (UST) ecosystem. 

Specifically, Kwon’s plan for bringing Terra back to life reportedly comes with hard forking the current blockchain, as well as carrying out the reissuance of LUNA tokens to current investors, dependent on a snapshot prior to the death spiral bled the LUNA and UST markets – which led to unrecoverable financial damages for investors.

Going by the name “Phoenix-1”, the Terra 2.0 mainnet was rolled out live on May 27th, accordingly to the original timeline established by Terra engineers, and commenced the blocks production process. 

Kwon further shared details that public node services, wallets and explorers would be introduced soon after the mainnet managed to go live. 

According to the plan from the initial proposal, which came with recommendations of the issuance for the new LUNA tokens to current investors, Kwon stated that users should now have the abilty to witness the freshly introduced LUNA tokens balances. 

“To view your $LUNA (or $LUNA2 as some exchanges call them) token balances, you only need to log into station and refresh the page.”

Furthermore, it is reportedly going to be mandatory for investors looking to complete the migration over the inter‐blockchain communication protocol (IBC) to create a station wallet with the similar ledger, as well as abiding by the instructions provided upon wallet creation.

Kown also shared an official portal link wherein users can view their Terra wallet balances. Previously, several crypto exchanges have joined Terra’s relaunch via offering assistance with airdrops.