The revival of the Terra chain means a lot in the crypto space.

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Last week’s bloodbath in the cryptos was because of the failures in the algorithmic stable coin (UST) and Billions of dollars turned into nothing. And this seems to be the first time a stable coin got de-pegged drastically. Do Kwon, the founder and his team, have been actively working to revive the project but it has not been a simple task. They are considering several solutions which include forking the blockchain.

However, CZ of Binance has issues with this because there are too many Luna in circulation and they might need to reduce the circulation first. I have a bunch of the tokens that I bought with some pennies. There is a serious need to reduce the number of tokens in circulation because there will be a massive dump again.

It has been great to see that many other active blockchains have been rendering support to help the Terra blockchain to revive and get things back to normal. A temporal option is for their dapps to migrate to the polygon chain, the CEO Ryan Wyatt of Polygon(Matic) tweeted some hours ago that they are working with Terra projects to migrate to the polygon.

The Fantom (FTM) also extends its hands of favour to developers that wish to move their application to FTM and they offer to give Terra's projects grants, marketing support and some connections.

Vitalik Buterin also shared his opinion on how to get things back to normal. He suggested the Terra team focus on the small investors rather than the whales.

In all, things need to look better again on the Terra chain.

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