Crypto
Terra Classic Community Rebuilds Blockchain with Burn Tax and Upgrades
The Terra Classic community is working to rebuild their blockchain after its algorithmic stablecoin, UST, lost its dollar peg in May 2022. This collapse wiped out approximately $60 billion in value and triggered hyperinflation in the LUNA supply.
A group of validators, independent coders, and token holders stayed behind, kept validator nodes running, and renamed the old chain Terra Classic.
The community is focusing on three key areas for the 2026 rebuild: reducing the token supply through an on-chain burn tax, upgrading the blockchain infrastructure, and establishing a functioning decentralized governance system.