Binance said on Wednesday it is working closely with Terra over the blockchain’s recently-approved revival plan.
The world’s largest crypto exchange said in a tweet it aims to help users impacted by the Terra crash.
The move comes just shortly after the Terra community voted in favor of the recovery proposal. 65.5% of holders voted yes on the revival plan, while little over 13% voted against it.
Terra will now launch a new blockchain, Terra 2.0, and airdrop a new LUNA token to holders on the old chain. The old Terra will be renamed to Terra Classic, and its native token will now be called LUNA Classic (LUNC).
Binance had delisted LUNA, UST
Binance had delisted LUNA and UST earlier in May in response to the Terra crash. UST had fallen sharply from its $1 peg, while LUNA lost nearly 99% of its value. The crash has now wiped out about $30 billion worth of investor money.
