Luna Classic (LUNC) is expected to launch this month – a new blockchain that comes as a part of a Luna fork plan proposed by TerraForm Labs founder Do Kwon following the cryptocurrency’s crash earlier this month.

The proposal, named Terra Ecosystem Revival Plan 2, is set to separate the existing blockchain through forking, which will ultimately create a new chain within the Terra ecosystem. The full plan outline can be seen on Terra’s official Agora forums.

What is the Terra Ecosystem Revival Plan 2?

In the plan, Kwon suggested renaming the existing chain and token to Terra Classic and LUNA Classic, respectively. The project is set to airdrop LUNA tokens across LUNC stakers, holders, and remaining TerraUSD holders, as well as a few Terra Classic app developers.

As it can be seen on Agora, Do Kwon also outlined specific details related to token distribution and other technical specifics. Terraform Labs creator also said that the new proposal received significant support from Terra developers, tagging a number of community members and devs in his tweet.

If the plan is successful, a new chain is expected to be created by the end of the month.

However, some in the community are concerned that the existence of both classic and new chains could confuse new investors who are not very familiar with the latest crypto developments.

Alternatively, the project could also decide to burn the majority of LUNA tokens to reduce the supply substantially. This would remove the need for a fork and the creation of new chains, allowing LUNA to remain within a single blockchain.

Luna, which was once worth more than $100, crashed earlier this month to $0 after its sister coin TerraUSD broke its one-to-one peg with the US dollar.

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