Dogecoin Creator Reacts To Luna 2.0

Dogecoin DOGE/USD creator Billy Markus shared disapproving remarks ahead of Terra’s LUNA/USD Luna 2.0 launch date.

What Happened: In a tweet on Wednesday, Markus said that the new blockchain would show the world just how dumb crypto gamblers really are.

luna 2.0 will show the world just how truly dumb crypto gamblers really are

— Shibetoshi Nakamoto (@BillyM2k) May 25, 2022

The Terra developers plan to deploy an entirely new blockchain called Terra 2.0, which is expected to go live during the early hours of May 28.

2/ To reach this point so quickly speaks volumes about our incredible community of users, validators, developers, and exchange partners 

We’d like to thank each and every one of you for making this possible 

— Terra  Powered by LUNA  (@terra_money) May 27, 2022

The airdrop of the new tokens will reportedly take place around 2:00 a.m. ET. The LUNA tokens that haven’t been staked for vesting purposes will be available in users’ Terra wallets automatically, the blockchain’s developers said.

Those that have staked their tokens will be able to see their new balance by clicking the “Stake” tab in the Terra Station wallet.

Users who held LUNA on centralized exchanges and are eligible for the airdrop have been advised to confer with the exchange itself as to how they can access the new tokens.

As of this week, three large crypto exchanges including Kraken and Binance said they would support the new token. However, major U.S.-based crypto exchange Coinbase Global Inc COIN does not plan to support the new chain.

1/ Through speaking with customers and ecosystem participants, we are making a tough decision to wind down support for the Terra ecosystem. We are discontinuing support for the existing Terra chain and are not planning to support a potential new Terra chain at this time.

— Coinbase Cloud (@CoinbaseCloud) May 20, 2022

Markus and other industry proponents are of the view that the new chain will not make burned investors whole, but rather, they will only have themselves to blame if things go south once again.