Thank you!!!! FUTURES The arrangements are as follows: 1. Terra (LUNA) is currently ranked in the 12th position on CoinMarketCap in terms of market capitalization, which stands at $13,621,149,804, at the time of writing. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. For more information, please refer to. Reddit. Further mechanics could be put in place to reduce the risk such as reserves, burns, amount of luna that can be minted per x time, etc but under no circumstance should Luna be minted when market cap of luna goes below the market cap of UST. Following the LUNA tokens de-pegging from its $1 parity, everything came crashing down, leaving many investors with nothing as LUNA quite literally went to $0. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. Pre-depeg LUNA holders airdrop: 35%. All bonded / unbonding Luna, minus TFL at Pre-attack snapshot; staking derivatives included, For wallets with < 1M Luna: 1 year cliff, 2 year vesting thereafter, For wallets with > 1M Luna: 1 year cliff, 4 year vesting thereafter, 500K whale cap covers up to 99.7% of all holders but only 26.72% of aUST, 15% unlocked at genesis; 85% vested over 2 years thereafter with 6 month cliff, Pre-attack snapshot to be taken at at Terra Classic block 7544910 (2022.05.07 23:00:04+08:00), Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00), Chain upgrade to commence in a few hours after the Launch snapshot, Snapshots can change depending on development readiness, Luna eligibility includes Luna, bonded Luna, unbonding Luna, and staking derivatives, TFL (previously maintained mantle, station, finder, Terra Core) to prepare core public infrastructure, wallets, genfile, release binary for the launch, Validators (to volunteer) to declare gentx and coordinate launch shortly after the launch snapshot, Community leaders looking to provide oversight over the essential dev program should form a multisig to oversee the essential dev allocation & act as a steering committee for the new chain, 05/21 Terra Core release is cut, network launch instructions made available for validators, 05/25 Essential app developer registration completed, 05/27 Genesis file created from final launch snapshot. Pre-Attack Luna Classic (LUNC) (old LUNA): New Terra (LUNA) = 1:1.034735071 In short, theyre going to keep Layer 1 technology while avoiding the stablecoin method that caused the LUNA death spiral. Binance Staking will make a further announcement with more details relating to the airdrop for users with LUNA (old) and UST (old) in their Locked Staking accounts. Ltd, and/or their affiliate entities and are for informational & educational purposes only. Twitter Once the hard fork is executed, 30% of the new LUNA tokens will be airdropped to pre and post-collapse LUNA and UST holders in a proportionate manner. Subsequently the LUNA token went into a steady decline that took it eventually to its all-time low of $0.1199 in March 2020. Show Off Your Crypto Knowledge With Binance Word of the Day! CoinDesk journalists are not allowed to purchase stock outright in DCG. SPOT Create an account to follow your favorite communities and start taking part in conversations. Address: Road Town, Tortola, British Virgin Islands. All rights reserved. Confused with the Luna Token Distribution. Allocate a large portion of the token distribution in 1) providing emergency runway for existing Terra dapp developers 2) align interest of devs with the long term success of the ecosystem . By clicking the Get Started button you acknowledge having read the, For Crypto.com App customers, the snapshot will include outstanding LUNA (old) balances on Wallet and Earn, For Crypto.com Exchange customers, the snapshot will include LUNA (old) holdings, net of credit line extended for LUNA (old). Under the new proposal, Terra plans to distribute tokens to holders of the old luna soon to be renamed "luna classic" and UST tokens. Details are subject to change. LDO Crypto Governance. Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. Luna (LUNA) price is up 0.120000% in the last 24 hours. Fast and secure decentralized digital asset exchange, Bringing blockchain broadcasts to you live, Verified user credentials for the Web3 era, Perpetual or Quarterly Contracts settled in USDT or BUSD, Perpetual or Quarterly Contracts settled in Cryptocurrency, Enjoy increased leverage without risk of liquidation, Exclusive ranking for Binance traders, follow top traders' strategies, View our full range of crypto-derivative instruments, Learn how you could practice responsible trading with Binance Futures, Expand your knowledge and get the latest insights in Derivatives Trading, VIP Exclusive, Tailor-made Institutional Grade Services, Commit your crypto holdings and enjoy high returns, Mine more rewards by connecting to the pool, Get an instant loan secured by crypto assets, Premium digital asset solutions for institutions, Connect and grow with Binance liquidity solutions, Discover various asset management solutions, One-stop station made for VIP and institutions, Secure digital assets with leading infrastructure, Bespoke institutional loan with wide coverage, Binance Completes the Terra (LUNA) Airdrop Distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) Holders, Binance Will Support the Terra Classic (LUNC) and Dock (DOCK) Network Upgrades. The Terra ecosystem and its community are worth preserving. holdes in this case refers to those traders to have bought LUNA or UST during the de-pegging period or have grabbed a few tokens upon the release of the Terra LUNA 2.0 Airdrop news. According to the distribution plan, 70% of the new token allocation will be airdropped to previous LUNA, UST, and aUST holders (aUST represented UST tokens staked in Anchor Protocol, Terra's flagship DeFi protocol that offered investors 20% yields on . Measures the prevalence of top balances comparing to whole population. Don't have your own account? The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. We can do this by depositing ~750k USD worth of tokens into a enterprise DAO and releasing a months worth of funds at a time. The token regained strength, popping higher in July and August of 2020 and nearly reaching $0.60 in the . Pre-crash LUNA holders will receive 35% of the new tokens. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. At its peak in April this year, the investment in stable coins reached a . Now the rest belongs to the community. About 1,000,000,000 Luna tokens. Earn attractive annual interest through lending, Easiest way to earn passive income through staking, https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837, 1. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. Wouldnt that be wonderful? Join CoinCu Telegram to keep track of news:https://t.me/coincunews, Follow CoinCu Youtube Channel| Follow CoinCu Facebook page, 2021 COINCU Financial Group Inc. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. (and then resubmitting this proposal again in 12 months . 4% Essential developers (1 year cliff, 4 year vesting thereafter, granted after launch traction) 35% All bonded / unbonded Luna, minus TFL at "Pre-attack" snapshot This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. As of this weekend, 50 billion tokens have been reportedly . It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. The LUNA 2.0 testnet is now active, and the mainnet will go live on May 27. 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Markets LUNA2 is the native token used for governance of the network. This burn tax could be a measure put in place until the supply is low enough for us. One of the most happening topics within the crypto ecosystem is circling the LUNA 2.0 token airdrop and the way it is going to be distributed to LUNC token holders. Crypto.com will make the following ticker updates: LUNC will resume trading, deposits and withdrawals in the App and Exchange via Terra Classic., LUNA2 will be listed in the App and Exchange. It is not intended to offer access to any of such products and services. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). The volume will play on us. The Luna token skyrocketed about 135% in less than two months until its peak in April 2022. Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. (2023-03-01), Binance Adds BNX, YFI & More Pairs on Cross Margin & Isolated Margin, Affiliate Rewards Bootcamp Promotion: Earn Up to 150 USDT in Token Voucher by Inviting New Users to Trade on Binance, Binance Will Support the Stargate Finance (STG) Contract Swap, Notice on the Monthly Rebalancing for Auto-Invest Index-Linked Plans (2023-03-01), Binance Completes Integration of JOE (JOE) on Arbitrum One Network, Opens Deposits and Withdrawals, Binance will rename the current Terra network as Terra Classic network and support the Terra network airdrop. Minting $100 . By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Some will argue what is the point of UST when it cant be stable [] The solution to this downside is to position UST as a junk bond equivalent in other words a riskier debt product. Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. At Genesis, 30% of the LUNA airdrop will be immediately available to Pre-Attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and Post-Attack users with any quantity of LUNA (including staking derivatives), UST, or both.. The UST stablecoin algorithm created trillions of LUNA tokens, fell into a hyperinflationary spiral, and reduced the value of the original LUNA token by 99%. If you had less than 10,000 LUNA (old) token holdings before 07. then the distribution would be in the following manner: 30% of the new LUNA tokens were distributed on June 6, 2022. At the time of writing, luna 2 was trading at $8.18, with a self-reported circulating supply of 210 million, giving it a market capitalization of $1.8 billion, according to, The token was launched on a new blockchain dubbed Terra 2 following the, Investors that held UST or luna before the depeg, as well as those who purchased either asset following the depeg, were, The old luna token, which is trading at $0.0002, has been, The revival plan, although passed by Terras network validators, was pushed live even as results from a preliminary online poll on a, Some 92% of over 6,220 voters on a previously held online poll voted against the change, with the most popular responses calling for no fork,. Additional Read: Terra Luna Price Crash Explained. Binance, Huobi, Bybit, Bitrue, Bitfinex, Kraken, FTX, Gate.io, OKX, and Bitget will airdrop LUNA to investors who held it before the snapshot or who held it during the snapshot on May 26. Subject to Crypto.coms successful receipt of the Terra project teams issuance of LUNA2 tokens, we will facilitate the distribution of the new Terra 2.0 token (LUNA2) to all eligible users. Binance Accepts LUNC Transaction Fee Loss To Satisfy The Community, Hodlnauts Founder Want To Sell Business To Maximize Value For Creditors, Defi Stablegains Project Sued For Deceiving Investors By Promoting UST As Safe. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. LUNA/BUSD and UST/BUSD spot trading pairs will be suspended and all pending spot orders will be cancelled on 2022-05-26 at 15:00 (UTC). For more information, please refer to the following: Terra Ecosystem Revival Plan 2 [PASSED GOV], Terra Builders Alliance: Rebirth Terra Network, Trade on-the-go with Binances crypto trading app (iOS/Android). However, selling pressure was intense, and UST never got close to its $1 target. 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