The Terra team announced via Twitter on Friday that it has published an amendment to Proposal 1623. The amendment incorporates the community’s feedback since it was first published two days ago. This proposal seeks to rename the existing network Terra Classic, LUNA Classic ($LUNC). If approved by the community, this will result in a new Terra blockchain and LUNA ($LUNA).
Terra is an algorithmic stablecoin platform operating on a Proof of Stake (PoS) blockchain infrastructure built with Tendermint. LUNA, the native token of the Terra ecosystem, is down by more than 8% in the last 24 hours and is trading at $0.00013685 at press time.