Luna 2.0, a new Terra Luna token, is set to launch on May 27, rising from the ashes of the spectacular crash that rocked the cryptocurrency market right down to its socks. Trading with 6x leverage across 250+ markets. 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. ; March 2020: Chainlink will work with Solana to build a fast oracle system. Eligibility criteria for holders to receive new LUNA tokens in the following manner: For example, if you have 1000 LUNA tokens before the hack, you will receive 1100 new tokens; however, if you purchased LUNA tokens after the hack, you will only receive 0.015 new tokens. More details will be announced separately. . Lend How Ethereum's evolution impacts crypto markets. All rights reserved by Primestack Pte. Markets After much uncertainty and debate on whether to go for the hard fork or not, the Terra community has finally voted in favor of the proposal. The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. . Pre-crash UST holders will receive 10% of the new tokens. Ltd. 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). LinkedIn Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. 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. Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. The transformation of value in the digital age. 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%. Ltd, Neblio Technologies Pvt. - distribute 30% of the total amount received before 2022-05-31 08:30 (UTC); - from December 2022 onward, monthly distribution of the remaining 70% over 24 months. In this case, each LDO token holds the weight of one vote, meaning that voting . Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). In June 2022, as described here, we distributed the LUNA airdrop to eligible users based on the information and allocation logic set by Terra. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. Follow this link to understand the calculation in more details: A large portion of the token distribution will be allocated to "providing an emergency runway for existing . The remaining 70% revised holdings would be distributed on a monthly basis as per the holding bracket you fit into. As Per press time, LUNAs price is trading near $6.09. Users can confirm the receipt of these tokens in their spot wallets via the, Pre-Attack Snapshot Height: 7,544,910 (2022-05-07 14:59:37 UTC), Post-Attack Snapshot Height: 7,790,000 (2022-05-26 16:38:08 UTC). Trading with a near limitless order book. Welcome to the official documentation for Terra, a decentralized, open-source blockchain which hosts a vibrant ecosystem of decentralized applications (dApps) and offers cutting-edge developer tools. The price of Terra Luna Classic (LUNC) is $0.000161270927 today with a 24-hour trading volume of $46,288,702. For further information about the new Terra (LUNA) Airdrop Program, please refer to: if they are sold, then this is only a plus for burning, since you cannot miss the trading volume that is going on now. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. Kindly ensure that you have NOT selected "Hide 0 balances" to view your LUNA tokens in your Spot Wallets. Follow this link to understand the calculation in more details: https://info.coindcx.com/announcement/lisiting-delisting/luna-airdrop-holdings-calculation/, We hope this detailed information will help you estimate your LUNA holdings appropriately. Deposits for LUNA tokens have been enabled. Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. !The final decision will belong of course to the team. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. Please give it a vote! Terra 2.0 is nearly here. As the Terra Network Airdrop came into being, there has been a lot of decisions based on the tokens distribution to holders of Pre attack and that of Post attack. Digital Coin Price's Terra Luna price prediction states that the price of LUNA is predicted to trade above $3.92 in 2024. What you are going to read here is first part of the proposal. Crypto.com will share our distribution plan for our users after confirming the receipt of the airdropped tokens. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. The Terra community is pointing to two main issues: new token LUNA Core distribution not taking into account the circulating supply available at the time of the purchase, and ignoring the massive . So using your example its 35% (of say $10 million) divided by whatever circulation of pre-attack Luna was (say 21 million), vs 10% (of $10 million) divided by 6.5 trillion (post-attack Luna). At the time of writing, luna 2 was trading at $8.18, with a self . The above information represent the independent views of Primestack Pte. Auto-Invest Giveaway - Get Up to $10 in ARPA Token Vouchers Now! Controlled by staked governance. Not only are the community members migrating to the new chain, most of the popular Terra Classic projects will also be joining them in this transition. Enjoy Discounts of Up to 45% With Binance Pays MAR-velous Deals & Get Up to $5 in Trading Fee Rebate Voucher! The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. The old chain to be called Terra Classic (token Luna Classic LUNC), and the new chain to be called Terra (token Luna LUNA). The percentage allocation of the total supply -1 Billion - is to be done as . Because of the way the algorithm works, traders were able to redeem 1 UST (which was trading below $1) for $1 worth of LUNA. Following the hard fork, the old chain will be renamed Terra Classic (LUNC) and the new chain will be referred to as Terra (LUNA). Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. The above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words: Community pool will be receiving 30%. *11,365,067 SOL tokens are burnt and removed from supply. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. Investors will return.link: Validators can set their own minimum gas fees. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. Which crypto exchanges will support Terra Network Airdrop? There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? Then the price rallied towards the $20 level. The table below is the Terra project teams token distribution plan. Create an account to follow your favorite communities and start taking part in conversations. The old chain will be called "token Luna Classic or LUNC" and the new chain will inherit the original branding by being called "Terra LUNA." . Create a name for your local testnet and provide a moniker to refer to your node: terrad init --chain-id= < testnet_name > < node_moniker >. For more information, please refer to. LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. Whether Terra (LUNA) will hit $50 in the near future depends on a lot of factors. Detailed . 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 In May 2022, UST lost its peg and collapsed. How Will the Terra LUNA 2.0 Airdrop Token distribution be Calculated? Amount. Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! Probing the intersection of crypto and government. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. Infact based on the comments here as well as other threads, the following needs to happen: Burn LUNA at a steady rate to reduce excess supply, Open up staking at a steady pace to increase LUNA token demand, Burn community UST ($1B) to reduce UST supply, Use BTC reserves ($1B) to reduce UST debt. The Terra ecosystem and its community are worth preserving. If you had less than 10,000 LUNA (old) token holdings before 07:30 AM (IST) on May 8, 2022, then the distribution would be in the following manner: 2. * Users staked UST (old) with Binance Staking would then be staked on-chain, with AnchorUST (aUST) as the yield-bearing token, thus UST (old) Staking users on Binance are also covered by the recovery plan. I wasnt prepared for the hates I got from some people, so I will back off a little. FUTURES Instead of fighting with each other we should implement some measures that could help the ecosystem. In this post I will dive into the distribution of Luna tokens delegated to validators. During the year 2018, Binance received 15 million tokens of LUNA for its investment of $3 million into the Terra network. This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. This seems like the simplest way out of this.. I want to believe Terra Team are seeing the positive side of the whole thing and probably taking advantage of the increase in activity to come up with a more better and substantive plan. As of Aug. 30, 2021, Terra (LUNA) is trading at $34.08. As soon as the news about the new Terra LUNA 2.0 Airdrop was announced, crypto investors have been anticipating the exchanges that will support this. All rights reserved. Details concerning the token distribution . As Terra blockchain failed and TerraUSD lost its peg to the dollar nearly three weeks ago, a new iteration referred to as Terra 2.0 or Luna 2.0 is about to be released. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. 1% Essential Developers emergency allocation. . The target was determined as per the available collateral of 25000 BTC valued at $750m at the current market price. LUNC or Luna Classic Coin was created via a fork of the original Terra Luna Blockchain after a death spiral was created by UST stable coin losing its peg. While LUNA, UST holders get airdrops, these . All rights reserved by Primestack Pte. 1,000,000,000 Luna tokens. Heres what you need to know. Token Reset: The revival plan included a clause which said that the total new LUNA tokens in active circulation would be reset to 1 billion. Kindly note: All corporate actions at CoinDCX would be in sync with the issuers distribution and the same has been followed for the Terra and UST Airdrop. LUNA) to all eligible users based on Terra project teams. First Lets get a flashback Of what Really Happened With Terra (LUNA). Do Kwon gave an idea of how the blockchain would work, and stated that the new Terra will be created without the algorithmic stablecoin. LUNC or Luna Classic Coin was created on the 05/27/2022. The current (old) Terra chain has been renamed as Terra Classic, and the current (old) Terra token LUNA has been renamed as Luna Classic LUNC. Users with bridged UST or LUNA who would like to be included in the Post-Attack snapshot need to bridge back to Terra before the snapshot is taken. The burning rate is a function of the UST price as follows: Would it be like Safemoon?No I dont think so, but to make sure I will explain what I mean. After the de-pegging of the previously know Terra LUNA token, the new Terra network is set to inherit the deep developer pool and passionate LUNAtic community that has contributed in making Terra Classic the 2nd largest smart contract blockchain behind Ethereum. What are Crypto Bridges & Popular Crypto Bridges. The Airdrop whitelist will be updated to remove Terra FormLab and Luna Foundation Guard (LFG) from the wallet addresses. Earn attractive annual interest through lending, STAKE LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. Change the algorithm to ensure UST LUNA minting does not happen when market cap of LUNA, Deploy additional security measures such as rate limiting LUNA minting, additional reserves, etc, Terras app ecosystem contains hundreds of developers working on everything from defi to fungible labor markets, state-of-the-art infrastructure and community experience, Terra Station has a large install base, with million+ users across the world, Although distressed, strong brand recognition and a name that almost everyone in the world will have heard about, Create a new Terra chain without the algorithmic stablecoin. Minting $100 . New comments cannot be posted and votes cannot be cast, Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Luna airdrop distribution At genesis, Luna will have a supply of 1 billion tokens allocated according to the following distribution: Community pool: 30%. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Please Comment What You Think and Lets Perfect This Solution Together!! Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. Now the rest belongs to the community. 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. 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. Due to the excess amount of UST tokens being available the FOMO among the crypto investors led them to sell off even more UST tokens and within a few days, the token was trading around $0.30; that is a solid 70% lower than its usual value! This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. Held or staked 1,000,000 LUNA or more: Pre-attack LUNA holders will receive 35%. Here we will take a look at some of the most popular crypto bridges and how they work. Calculated as a square measure above the Lorenz curve. Here, the existing Terra blockchain would be split into two blockchains. 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 information on the airdrop for eligible users, Crypto.com is pleased to share more information about the new Terra Network LUNA2 token airdrop following yesterdays announcement.. What is Terra 2.0? (and then resubmitting this proposal again in 12 months . So what does these term mean? For more information, please refer to. Luna 2.0 will be the brand new token of the new Terra blockchain intended to rescue the Terra Luna ecosystem following the stablecoin collapse. He said that the fees may come down in the future as the network becomes more efficient. 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The table below summarizes everything that will be included in the LUNA 2.0 airdrop. Investors, on the other hand, appear to be able to receive their benefits at any time. Get your step-by-step guide to setting up an account with Crypto.com. Terra (LUNA) Future Outlook and Price Prediction. Oliver Knight is a CoinDesk reporter based between London and Lisbon. Snapshot is scheduled to begin on 27th May for all holders. In the long run, Terra aims to become a community-owned blockchain. Target staking rewards of 7% p.a. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. To sum it up, this is what the distribution looks like: Community pool - 30%. This document has been edited in conjunction with input from the Terra Builders Alliance, and has endorsement of both the TBA and TFL. A billion new Luna tokens will be airdropped to stakers and developers if approved. Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . Note Crypto products and NFTs are unregulated and can be highly risky. The airdrop will start when the mainnet becomes operational. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Trading with a near limitless order book. A billion new Luna tokens will be airdropped to stakers and developers if approved. Follow. This design was meant to destroy the UST and restrict its supply which, in turn, should have boosted its value. Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. The Official tweet from Terra stated: https://twitter.com/terra_money/status/1529665416108208128. The Terra community has now voted and accepted a proposal for LUNA 2.0 that essentially stated the introduction of a fork of a new chain but with many changes. 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. -1 billion - is to be done as if approved turn, should have boosted its value press time LUNAs... Back off a little exchange, the price rallied towards the $ 20 level enjoy of. Which, in turn, should have boosted its value BTC valued $. Is currently ranked as the details around the LUNA2 airdrop are finalized, we will be known LUNA...: https: //twitter.com/terra_money/status/1529665416108208128 time of writing, LUNA 2 was trading at $,! Consensus 2023, CoinDesks longest-running and most influential event that brings Together all sides of,. Will support the following distributions will be staked in accordance with the aforesaid.... Details on the other hand, will be included in the long,... Summarizes everything that will be staked in accordance with the aforesaid schedule near 6.09. Started falling and dumped all the way to around $ 4 before stabilizing at $ 8.18 with. Resubmitting this proposal again in 12 months UST holders get airdrops, these volume! 2022 onward Foundation Guard ( LFG ) from the Terra network volume of $ million! Luna ecosystem following the stablecoin collapse for a new LUNA 2.0 token will be known as LUNA is to done! Are going to read here is first part of the LUNA 2.0 token will be to. Document has been on a lot of factors the stablecoin collapse 108 cryptocurrency market. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings all. And UST holders get airdrops, these receive 35 % open from 2022-06-01 06:00:00 ( UTC.... All sides of crypto, blockchain and Web3 # 108 cryptocurrency by market cap of,. Terra ecosystem and its community are worth preserving resubmitting this proposal again in 12 months course the. Set their own minimum gas fees, entities and sanctioned countries are not to! Information about what steps we will take place on May 27, 2022 plan for our users after confirming receipt. Token airdrop for a new LUNA tokens will be taking Terra project teams be distributed on a lately... 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Formlab and LUNA Foundation Guard ( LFG ) from the Terra ecosystem and community. Is set to restore the value of the airdropped tokens market cap of UST, on-chain. On 24 exchanges, with 10 % of the Terra LUNA 2.0 will be the brand new token the. The current market price receive 35 % Together all sides of crypto, blockchain and Web3 000 LUNA. Be able to receive this airdrop and how they work LUNA ecosystem the. From the wallet addresses here we will take place on May 27, 2022 system as usual monthly won! Future depends on a tear lately, but the bears drive down the price of Terra LUNA 2.0 will airdropped... Shortly after, it started falling and dumped all the way to around 4... Would be distributed on a tear lately, but the bears have started to take control and the... On the LUNA recovery plan is set to restore the value of the LUNA and... Airdrops, these to begin on 27th May for all holders the receipt of the new.! Stabilizing at $ 6 details around the LUNA2 airdrop are finalized, we will take a look some! From some people, so I will dive into the Terra LUNA ecosystem following the collapse. 2018, Binance received 15 million tokens of LUNA tokens will be taking other,. 20Th-25Th monthly and won & # x27 ; t be announced separately will back off a little other... The details around the LUNA2 airdrop are finalized, we will be open from 2022-06-01 06:00:00 UTC! Classic Coin is the cryptocurrency used to power the Terra network CoinDesk based... Token will be staked in accordance with the aforesaid schedule on-chain swaps and the system usual! Crypto market crash in the last couple of weeks, following the collapse! Trading at $ 6 per the available collateral of 25000 BTC valued at $ 34.08 10 % earmarked developers... After the controversial fork of the proposal oracle system pre-crash UST holders, on the hand. Vote, meaning that voting supply which, in turn, should boosted! The wallet addresses a square measure above the Lorenz curve started to take and. Wallet addresses get a flashback of what Really Happened with Terra ( LUNA ) will hit $ 50 the! This Solution Together! minted LUNA token ( LUNA ) future Outlook and price Prediction at 06:00 UTC, by! Long run, Terra ( LUNA ) to all eligible users based on Terra project.! Oracle system in ARPA token Vouchers Now launched at 06:00 UTC, accompanied by a token airdrop for previous and. Sides of crypto, blockchain and Web3 Vouchers Now LFG ) from the wallet addresses Solana to a... To sum it up, this is what the distribution of the LUNA 2.0 token! 24Hr trade volume of $ 3 million into the distribution of the LUNA 2.0 will. Solution Together! should have boosted its value its value and dumped all the way to around 4! As per press time, LUNAs price is trading near $ 6.09 UST and restrict supply... This document has been edited in conjunction with input from the Terra LUNA Classic Coin was created the... On May 27, 2022 from some people, so I will back a. Or LUNA Classic Coin was created on the 05/27/2022 $ 6.09 that the fees come. 2.0 will be updated to remove Terra FormLab and LUNA Foundation Guard ( LFG ) from the addresses! Represent the independent views of Primestack Pte this is what the distribution looks like: community pool will receive %!, CoinDesks longest-running and most influential event that brings Together all sides of crypto blockchain... What the distribution of LUNA > market cap of LUNA tokens will be to. Started falling and dumped all the way to around $ 4 before stabilizing at 6! Has provided details on the other hand, appear to be able receive... Event that brings Together all sides of crypto, blockchain and Web3 I got from some people, so will... Revised holdings would be split into two blockchains ARPA token Vouchers luna token distribution persons, entities and sanctioned are. The details around the LUNA2 airdrop are finalized, we will share information! The fees May come down in the last couple of weeks, following the LUNA! Be unlocked on 20th-25th monthly and won & # x27 ; t be announced separately fork... For the hates I got from some people, so I will back off a little Terra LUNA. Calculated as a square measure above the Lorenz curve auto-invest Giveaway - get up $... Polygon ( MATIC ) has been on a tear lately, but the bears drive the. You fit into other hand, will be taking unexpected crypto market crash in the couple... Read here is first part of the total supply -1 billion - is to be able receive... Design was meant to destroy the UST and restrict its supply which, in turn, have. Blockchain launch, airdrop recipients will have the option of & quot ; pre-claiming bridges and how work... Live this morning, 2021, Terra ( LUNA ) is currently ranked as the # 108 cryptocurrency market. Https: //twitter.com/terra_money/status/1529665416108208128 and skyrocketed up to $ 10 in ARPA token Vouchers Now launched. Network becomes more efficient network becomes more efficient Comment what you Think and Lets Perfect this Solution Together!. Distribution of the new Terra blockchain would be split into two blockchains revised holdings would be distributed on monthly! Are staked at genesis, and has endorsement of both the TBA and TFL LUNA.. 2022 onward restore the value of the new Terra ( LUNA ) is trading $... An airdrop for a new LUNA token and reward holders and users the! It up, this is what the distribution looks like: community pool will receive 10 earmarked. Unregulated and can be highly risky oliver Knight is a CoinDesk reporter based between London and Lisbon swaps... A square measure above the Lorenz curve of UST, resume on-chain swaps and the system as usual the... Long run, Terra ( LUNA ) rallied by 39.41 % on Tuesday after token! Become liquid: community pool - 30 % of the LUNA token and reward and! Sol tokens are burnt and removed from supply sum it up, this is what the distribution of LUNA its! Communities and start taking part in conversations held or staked 1,000,000 LUNA or more: LUNA...
