Gus – Cryptocurrency Expert
Behind the scenes, the Terra network is still being worked on in the hopes of resurrecting it. Meanwhile, according to CoinQuora, the second version of the blockchain is slated to be live on mainnet this week.
Terra's idea to rebuild the ecosystem by forking the blockchain and starting over with fresh tokenomics has gained a lot of traction and support. Especially from those who lost a lot of money due to the failures of UST and LUNA.
According to Terra Station data, the proposition garnered 65 percent of the vote (approximately 200 million votes), with over 2% (54 million) abstaining and roughly 13% (41 million) voting no. The votes are cast based on LUNA token ownership, with one vote per token rather than one vote per person.
Since last weekend, three changes have been made to the plan, impacting anyone who possessed tokens before and after the "assault." According to the official Terra Twitter account, there will be no hard fork, but Terra 2 will have a new genesis blockchain.
Orbital Command, a Terra validator, tweeted a lengthy piece on May 25 describing the facts. The Terra 2 network will be online on Friday, May 27th, according to the Terra 2 website. According to the proposal's criteria, Terra would airdrop tokens to community members who never traded their former LUNA tokens or UST stablecoins throughout the ecosystem's collapse.
Among the projects that have showed interest in cooperating with Terra 2 are Nebula, Sigma, Prism, Astroport, Phoenix, Nexus, Spectrum, Anchor, One Planet, Random Earth, and Coinhall.
The enormous Terra recovery plans, on the other hand, have arrived too late for the larger crypto market, which is currently in negative territory. Since the beginning of the year, the stock market has lost 43% of its value, or $1 trillion, putting the market during yet another lengthy bad cycle.
To start investing in cryptocurrency, and get a head start, you can go to a cryptocurrency broker – BC Bitcoin, a cheap cryptocurrency exchange that allows you to buy and sell cryptocurrency with ease.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards