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Hey Waivly Crew! 🌊 The highly-anticipated launch of Terra’s new blockchain took place on Saturday, and LUNA 2.0 is tanking already. Louisiana has introduced a bill to study the issue of accepting crypto donations in political campaigns.

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Terra launches new chain with LUNA 2.0

On Saturday, Terra’s new blockchain officially went live in an attempt to revive the Terra ecosystem after its algorithmic stablecoin (UST) and sister coin LUNA collapsed.

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This came days after the community approved a proposal made by Terraform Labs founder Do Kwon to launch a new layer-1 Terra blockchain without its algorithmic stablecoin, TerraUSD (UST). The old blockchain is now called Terra Classic (LUNC), and the new blockchain is called Terra (LUNA).

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In addition to the launch, 70% or 700 million of the total LUNA 2.0 token supply got airdropped to investors who previously held LUNA Classic, TerraUSD Classic (USTC), and Anchor Protocol UST (aUST).

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According to data from CoinGecko, the price of LUNA has dropped roughly -65% since its opening of $18.87 on Saturday and is sitting at around $6.58 at the time of writing.

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The lack of faith in Do Kwon’s revival plan likely played a big part in LUNA’s plummet, with many investors sharing on Twitter they have no plans to invest in the cryptocurrency after how poorly Terraform Labs dealt with the recent ecosystem collapse.

Louisiana lawmakers to study crypto campaign donations

A Louisianian lawmaker, Rep. Mark Wright, has introduced a new bill calling for the study of crypto campaign contributions was introduced late last week.

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The bill, HR 180, would assign the Supervisory Committee on Campaign Finance Disclosure to investigate "issues surrounding the acceptance of campaign contributions in the form of crypto," according to the text.

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The current draft highlights an opinion from the Federal Election Commission, which states a committee can accept Bitcoin as a campaign donation as long as they are stated as in-kind contributions.

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According to the bill, there has been a higher interest all across the state in donating to campaigns using cryptocurrency.

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Louisiana isn’t the only state interested in embracing crypto. Earlier this month, California’s Fair Political Practices Commission, or FPPC, had a “pre-notice discussion” on whether politicians in the state should be allowed to accept donations in cryptocurrencies, such as Bitcoin.

The Waves

👀 Top 5 NFT projects dropping in June

🎉 USDT launches on Polygon

💵 Tether launches stablecoin pegged to Mexican Peso

🐦 Elon Musk pledges $33.5 billion to Twitter bid

NFT Special

Arquiaz

Arquiaz is a Mexican architect, digital creator, builder, and educator. The main focus of their design and fabrication techniques centres around programming and creative coding.

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GutoX

Gustavo is a photographer from Brazil who has been living abroad for the past five years. Because photography and the sea have played a big part in his life, he decided to combine the two with Sea Escapes, a collection of 17 beautiful photos taken by the sea.

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Nature sauvage

Decemberland is an artist from Québec who specializes in both hand-drawn and animated art. With their collection Nature sauvage, Decemberland showcases various aspects of nature.

Own and secure your crypto with Ledger

If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.

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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

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The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.

Share The Wave

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*Waivly+ is a premium Waivly membership. Join at anytime by clicking “Subscribe” on the Waivly website, and cancel anytime by heading to your account on Waivly.

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