Astroport backs Terra 2.0 release when voting closes

The hype around Terra 2.0 continues to grow. The Terra community’s recent voting session became the latest proof of it. The platform asked its community if Terra 2.0 should be released. Members have shown great support for reliable AMMs (Automated Market Makers).

The initiative started a week ago with a voting meeting to decide the rebirth of the Terra network. Now that voting has closed, names like Terra Builders Association and Do Kwon have come out in support of Terra 2.0.

That means there could be two versions of Terra on the market soon. The first is Terra Classic, which includes UST’s existing Terra integration. The second is Terra 2.0, an updated Terra integration without UST or other algorithmic stablecoins. LUNA will act as the native asset of the network.

Enterprises such as Nexus, Spectrum, Prism, Anchor and Stader have also expressed support for Terra 2.0. With the plan all but certain to pass, the Astroport community is also gearing up. The joint venture will soon have to redeploy its smart contract system on Terra 2.0.

Additionally, the Astroport team will maintain compatibility with Terra Classic. This means that traders across the ecosystem will use DEXs on Terra Classic and Terra 2.0. The current Astroport integration will run on terra Classic until the network is running. However, two subsequently operating networks would imply the need for two types of governance tokens.

Terra Classic will use ASTRO tokens to collect fees and manage the network. Likewise, new ASTRO tokens will be issued for such features on Terra 2.0. Both communities are excited about this development as it can reignite Terra’s market value.

Source of information: Compiled from CRYPTONEWSZ by 0x information.The copyright belongs to the author and may not be reproduced without permission

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