Cryptocurrency

Astroport Supporting the Release of Terra 2.0 as Voting Ends

Terra community is finishing the voting for the release of Terra 2.0. With the results supporting the initiative, Terra might own two different versions.

The hype around Terra 2.0 keeps growing. The recent voting session in the Terra community became the latest testament to it. The platform asked its community whether Terra 2.0 should be released. The members have shown tremendous support for a reliable AMM (automated market maker).

The initiative commenced a week ago with a voting session to decide the Terra network’s rebirth. Now that the votes are closing, names like the Terra Builders Association and Do Kwon have come out to support Terra 2.0.

It means that soon there might be two versions of Terra on the market. The first would be Terra Classic, the existing Terra integration that includes UST. The second is Terra 2.0, an updated integration of Terra without UST or other algorithmic stablecoins. LUNA will act as the native asset for this network.

Ventures like Nexus, Spectrum, Prism, Anchor, and Stader have also shown support for Terra 2.0. With the initiative almost assured to pass, the Astroport community is also getting ready. The venture will have to redeploy its smart contract system on Terra 2.0 shortly.

In addition, the Astroport team will also maintain its compatibility with Terra Classic. It means that traders across the ecosystem will use the DEX on Terra Classic and Terra 2.0. The current Astroport integration will operate on terra Classic until the network operates. However, two subsequently running networks will mean two types of governance tokens are needed.

Terra Classic will use ASTRO tokens to receive fees and govern the network. Similarly, new ASTRO tokens will be released for such functionalities on Terra 2.0. Both communities are excited about the development, as it can rekindle the market value of Terra.

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