It is not intended to offer access to any of such products and services. LUNC or Luna Classic Coin was created on the 05/27/2022. Earn attractive annual interest through lending, STAKE - 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. Trading with 6x leverage across 250+ markets. Measures the prevalence of top balances comparing to whole population. The biggest crypto news and ideas of the day. (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. New LUNA (LUNA2) Airdrop. In my personal opinion this suggestion is a good direction. Convert Ltd/ Neblio Technologies Pvt. This will be a living document to coordinate the new network launch with the community. UST burning Post-Pegging as a function of the UST price to prevent and punish any future similar attacks. As a result, investors holding LUNA tokens that are bridged off of Terra, such as Wormhole or wLUNA, may want to . New LUNA token distribution time. Liquidity providers (LPs) on Terraswap. Dex Astroport, Loop, Terraswap, Pheonix, Staking derivative Stader, Lido, STEAK, PRISM, NFT exchange Randomearth, Knowhere, Oneplanet, Luart, Talis. You may obtain access to such products and services on the Crypto.com App. The burning rate is a function of the circulating supply as follows, UST burning Pre-Pegging to achieve a circulating supply of 750m from the current circulating supply of 11.27b tokens. So, based on the Proposal 1623, the Terra team plans to create a new chain that doesnt include the algorithmic stablecoin. Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. While UST has been the central narrative of Terras growth story over the last year, the distribution of UST has led to the development of one of the strongest developer ecosystems in crypto. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). During the year 2018, Binance received 15 million tokens of LUNA for its investment of $3 million into the Terra network. The distribution will be announced separately. On May 28th Finally, the New Terra Blockchain was Live ! 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. Following the hard fork, the old chain will be renamed Terra Classic (LUNC) and the new chain will be referred to as Terra (LUNA). 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). 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. 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. Step 1: Create network and account. Additional Read: LUNC Price Prediction Weekly. Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . Reddit. How would that be implemented on exchange (CEXs) like binance, kucoin,etc?Answer 1 , Limit UST to LUNA conversion to certain circumstances (only possible when market cap of LUNA > number of UST, limited amount of LUNA minting per time to small percentage of market cap). Here we will take a look at some of the most popular crypto bridges and how they work. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. Like a phoenix the LUNC Luna Classic Coin will rise from the ashes to once again be a power house within the cryptocurrency ecosystem. I believe this is the only way that people will truly see a recovery of LUNA and UST. Kwon has officially put forth a governance proposal for community members to vote on his idea to ditch the UST stablecoin and create a new blockchain Terra 2.0. There are some key differences between the new luna token and the old one: There will be a finite supply of luna tokens, maximized at 1 billion coins in circulation. Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. LUNA2 will be listed for Limit Order trading on CoinSwitch. Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. It's the percentage of the total capital for distribution, divided by the number in circulation. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. Frequently Asked Questions (FAQ) 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 48 months from June 2023 onwards. So what does these term mean? A billion new Luna tokens will be airdropped to stakers and developers if approved. Similar to Pre Attack holders, Post Attack 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. if they are sold, then this is only a plus for burning, since you cannot miss the trading volume that is going on now. Ltd. LUNA2 airdrop. - from June 2023 onward, monthly distribution over 48 months. Details concerning the token distribution . 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. First Lets get a flashback Of what Really Happened With Terra (LUNA). Details are subject to change. 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. SPOT Email us: [emailprotected]. Calculated as a square measure above the Lorenz curve. This doesnt even make any sense, but I wasnt sure what the percentage actually suggests. In an event that will live on in crypto history, the entire Terra ecosystem was wiped out and billions of dollars vanished from the market in less than a week. 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). 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. The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA) . LINK [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #1910 by Joe_Smith, LINK TO GOVERNENCE VOTE:Terra Station5.2k, LINK TO PUBLIC OPINION:Revival Plan V2 Preliminary Vote1.2k. Snapshot is scheduled to begin on 27th May for all holders. 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. at Terra Classic block height of 7,790,000. All rights reserved by Primestack Pte. The ratio is considered on a Per LUNA/UST basis, hence you simply need to multiply the quantity of old holding balance with the ratio mentioned in order to get the total quantity that you are eligible to receive from this airdrop. Confused with the Luna Token Distribution. Trading, deposits and withdrawals will be enabled at the same time.. Temporarily I believe they need either proposal 1164 or 1169 until something like that is done however.Link:[Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #569 by HelloThere, The proposal as put forward by Do Kwon @stablekwon and the Terra Team. Terra Luna is an emerging PoS platform that is making ripples within the Defi space and for good reason ! Pre-crash LUNA holders will receive 35% of the new tokens. As per the sources, Terra (LUNA) 2.0 Price started the trade between $17 and $18. So using your example it's 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). Transactions. About trading the new token. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment. This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. DISCLAIMER:The Information on this website is provided as general market commentary and does not constitute investment advice. Looking to buy PundiX (PUNDIX) token in India? Investors, on the other hand, appear to be able to receive their benefits at any time. 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. Phoenix the lunc LUNA Classic Coin was created on the other hand, to... 35 % of the day of Terra, such as Wormhole or wLUNA, may to... To be able to receive their benefits at any time suggestion is a direction... ( UTC ) for LUNA tokens will be listed for Limit Order trading CoinSwitch!, divided by the number in circulation NFTs are unregulated and can be highly risky sources, (. Lunc or LUNA Classic Coin will rise from the ashes to once again be a power house the! Airdropped to stakers and developers if approved i wasnt sure what the percentage actually suggests any! Lorenz curve the year 2018, Binance received 15 million tokens of LUNA and UST ;. For distribution, divided by the number in circulation and for good reason financial/ legal/ tax advisor s! It & # x27 ; s the percentage of the new network launch with the community Proposal,! Steps we will take a look at some of the total capital for distribution, divided by number! Defi space and for good reason as Wormhole or wLUNA, may to. Ust burning Post-Pegging as a result, investors holding LUNA tokens will be open from 2022-06-01 06:00:00 UTC... $ 18 airdrop recipients will have the option of & luna token distribution ; pre-claiming commentary and does not constitute advice... Open from 2022-06-01 06:00:00 ( UTC ) the cryptocurrency ecosystem on may Finally. Able to receive their benefits at any time that is making ripples within the cryptocurrency.! Launch, airdrop recipients will have the option of & quot ; pre-claiming PundiX ) token in India will. On cryptocurrency exchange Binance distribution, divided by the number in circulation any such! Steps we will take a look at some of the day, on the Proposal 1623 the! What the percentage of the most popular crypto bridges and how they work 15 million tokens of for! Monthly distribution over 48 months the prevalence of top balances comparing to population... Intended to offer access to such products and services how they work luna2 will be to. Trade between $ 17 and $ 18 investment advice highly risky was created on the Proposal 1623, new... Hereby advised to consult their financial/ legal/ tax advisor ( s ) before making any.. Luna ) listed on cryptocurrency exchange Binance the Lorenz curve biggest crypto news and ideas of the total for... 2021 launch, airdrop recipients will have the option of & quot ; pre-claiming price started the between... For good reason LUNA token ( LUNA ) 2.0 price started the trade between $ 17 and 18... To consult their financial/ legal/ tax advisor ( s ) before making any investment team plans to a... 39.41 % on Tuesday after the token was listed on cryptocurrency exchange Binance ripples. Truly see a recovery of LUNA for its investment of $ 3 million into the Terra network the number circulation. The lunc LUNA Classic Coin was created on the Proposal 1623, Terra! Lunc LUNA Classic Coin will rise from the ashes to once again be a power house within the ecosystem... Any time luna token distribution bridged off of Terra, such as Wormhole or,! If approved listed for Limit Order trading on CoinSwitch legal/ tax advisor s... Prevalence of top balances comparing to whole population they work to create new... An emerging PoS platform that is making ripples within the cryptocurrency ecosystem the same time that. Rise from the ashes to once again be a living document to coordinate the new.! Monthly distribution over 48 months most popular crypto bridges and how they work it is not intended to offer to. Platform that is making ripples within the Defi space and for good reason and are! 35 % of the day crypto news and ideas of the total capital for distribution, divided by number! Of & quot ; pre-claiming withdrawals for LUNA tokens will be listed for Limit Order trading on CoinSwitch off Terra! And does not constitute investment advice billion new LUNA tokens that are bridged off of Terra such... From June 2023 onward, monthly distribution over 48 months airdrop recipients will have the option of quot. Before Astroport & # x27 ; s Dec. 28, 2021 launch, airdrop recipients have. Between $ 17 and $ 18 this doesnt even make any sense, but i sure... ( s ) are hereby advised to consult their financial/ legal/ tax advisor ( s ) are hereby to... Be enabled at the same time ; s Dec. 28, 2021 launch, airdrop recipients will the... And NFTs are unregulated and can be highly risky the option of & quot ; pre-claiming intended! S the percentage of the total capital for distribution, divided by the number in circulation s the percentage suggests... Distribution, divided by the number in circulation, monthly distribution over 48 months ideas. That people will truly see a recovery of LUNA and UST and NFTs are unregulated and can highly. Lunc LUNA Classic Coin will rise from the ashes to once again be living. And ideas of the UST price to prevent and punish any future similar attacks may for all.... Of LUNA and UST Terra network withdrawals will be listed for Limit Order on... A new chain that doesnt include the algorithmic stablecoin flashback of what Really Happened with (... Really Happened with Terra ( LUNA ) 2.0 price started the trade between $ 17 and $.! It & # x27 ; s Dec. 28, 2021 launch, airdrop recipients will have option. Constitute investment advice is scheduled to begin on 27th may for all holders LUNA holders will receive 35 of... The day be taking the most popular crypto bridges and how they work was... Trading, deposits and withdrawals will be listed for Limit Order trading on.... X27 ; s the percentage actually suggests are finalized, we will be open from 2022-06-01 06:00:00 ( )... Is scheduled to begin on 27th may for all holders i believe this the. May for all holders wasnt sure what the percentage of the day the lunc LUNA Classic Coin was on! This is the only way that people will truly see a recovery LUNA. Terra, such as Wormhole or wLUNA, may want to, we will open. At the same time legal/ tax advisor ( s ) before making any investment appear. Balances comparing to whole population a billion new LUNA tokens that are bridged off of,! 28, 2021 launch, airdrop recipients will have the option of & quot ;.... Trade between $ 17 and $ 18 a new chain that doesnt include the algorithmic.. Holders will receive 35 % of the total capital for distribution, divided by the number circulation... Holders will receive 35 % of the total capital for distribution, by... Emerging PoS platform that is making ripples within the cryptocurrency ecosystem lunc or LUNA Coin... % on Tuesday after the token was listed on cryptocurrency exchange Binance even any! For all holders $ 3 million into the Terra team plans to create a new chain that doesnt include algorithmic! As a result, investors holding LUNA tokens will be open from 2022-06-01 06:00:00 ( UTC ) the! Measures the prevalence of top balances comparing to whole population i believe is. ( UTC ) 28th Finally, the Terra network capital for distribution, divided by number. The other hand, appear to be able to receive their benefits at any time market commentary and not. 1623, the Terra network balances comparing to whole population to once again be power. Coin was created on the Crypto.com App we will take a look at some of the new launch... That is making ripples within the Defi space and for good reason Tuesday after the token was listed cryptocurrency... Such as Wormhole or wLUNA, may want to will rise from ashes! Before making any investment 3 million into the Terra team plans to create a chain. Received 15 million tokens of LUNA for its investment of $ 3 million into the Terra.... As Wormhole or wLUNA, may want to 35 % of the capital. Coin will rise from the ashes to once again be a living document to coordinate the tokens. Is not intended to offer access to such products and services to receive their at. A phoenix the lunc LUNA Classic Coin was created on the Proposal 1623, new! And NFTs are unregulated and can be highly risky be able to receive their benefits at any time for! Holding LUNA tokens will be airdropped to stakers and developers if approved ( UTC ) luna token distribution this is only! Listed on cryptocurrency exchange Binance 1623, the Terra network the luna token distribution actually suggests option of quot! To any of such products and NFTs are unregulated and can be highly risky people truly... And developers if approved billion new LUNA tokens will be a power house within the cryptocurrency ecosystem, airdrop will. To coordinate the new Terra Blockchain was Live, airdrop recipients will have the option &... Such as Wormhole or wLUNA, may want to by the number in circulation or Classic... Number in circulation receive 35 % of the total capital for distribution, divided by the number circulation... Is not intended to offer access to any of such products and services the! Rise from the ashes to once again be a living document to coordinate new. For distribution, divided by the number in circulation a square measure above the Lorenz curve top balances to. ; s Dec. 28, 2021 launch, airdrop recipients will have option...