The plan to revive Luna Classic has been announced, but market reactions are mixed. According to the reconstruction roadmap publicly shared by CEO Kwon at the time, the core idea was to completely remove the existing algorithmic stablecoin system and fork into a new structure.

Specifically, the previous blockchain would be renamed Luna Classic (LUNC), and a new chain called Luna (LUNA) would be created, with airdrops planned accordingly. Staking participants, token holders, and essential app developers would be targeted for the airdrop, and Terraform Labs' wallets would be excluded from the whitelist.

Immediately after the announcement, community responses were divided. While some voices were positive, most were skeptical. Some investors argued, "We’re not interested in the new Luna. People are struggling to make ends meet," calling for a full reset. There was also considerable demand for restoring the UST peg.

Industry reactions were also negative. A founder of a major exchange criticized, "That’s just wishful thinking," adding, "Forks don’t add any value to the chain." The co-developer of Dogecoin was even more forceful, advising, "Don’t create new victims and leave the industry forever."

However, there were also conservative assessments. One analyst said, "I understand the intention behind reviving Luna Classic, but we need to see if this approach is the best." He also pointed out, "The scale and asset types of affected investors vary, so this plan probably won’t satisfy everyone."

Ultimately, the success of Luna Classic’s revival largely depends on how much tangible value the new project can generate. Whether it can compensate investors’ losses will likely be determined by the performance of the new blockchain.