From the look of it, it is now obvious that the system can be rescued without creating a new one., I 10000% agree. Auto-Invest Giveaway - Get Up to $10 in ARPA Token Vouchers Now! LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Binance's Custody Arm Ceffu Will Apply For Singapore License: Report, BridgeTower Capital to Onramp Lido, Offers Security Token For Avalanches Staking Rewards, First Mover Asia: ConsenSys Chief Cryptoeconomist Sees Little Drama Ahead for Bitcoin, Hosts of Bankless Podcast Raising $35M Crypto Venture Fund: Sources. Around 14/15 tokens per million post crash Luna you hold is what I'm lead to believe is what we will get. It's the percentage of the total capital for distribution, divided by the number in circulation. 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. The airdrop will start when the mainnet becomes operational. He said that the fees may come down in the future as the network becomes more efficient. The current chain and the new chain would exist at the same time but operate differently. LUNA2 will reflect in your portfolio only if the current value of . 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The distribution model for the new LUNA tokens includes 30% for the community pool, 35% for LUNA holders before the crash of the ecosystem, and 10% for pre-crash Anchor-staked UST (aUST) holders, 10% for post-crash LUNA holders, and 15% for post-crash UST holders. Calculated as a square measure above the Lorenz curve. Agree. Holder address. I think recovery is going to be a mid term to longer road, than a shorter one, and in some ways the longer road will allow for a healthier return. The table below is the Terra project teams token distribution plan. Such a hefty tax will prevent attackers from making any profits and will prevent panic sales pressure. Over the past week, the algorithmic stablecoin UST and its sister token LUNA dropped precipitously in price, with LUNA going from $100 in April to a jaw-dropping price of $0.0001 on Friday, making . . 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). 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. 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. Why Did the Price of Aptos (APT) Drop by 30% in February? Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. You can also mint LUNA with Terra stablecoins. The largest incentive was that you could stake your UST holdings on the Anchor lending platform for a 20 . What are Crypto Bridges & Popular Crypto Bridges. The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. 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. No lockup. The percentage allocation of the total supply -1 Billion - is to be done as . Post-attack LUNA holders - 10%. Eligible Crypto.com App and Exchange users who hold (old) LUNA tokens at the specified snapshot timings (see table below) will be receiving the tokens in their accounts in a phased manner. Looking to buy PundiX (PUNDIX) token in India? Trading with a near limitless order book. He does not own any crypto. With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . Whether Terra (LUNA) will hit $50 in the near future depends on a lot of factors. You could evenimplement temporary 1% of the volume going to the people that lost money during the crash. 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. Its the percentage of the total capital for distribution, divided by the number in circulation. 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. I believe that just the fact of not giving up the ship will actually work to instill some confidence in the project by others, and that confidence will regain for each inch of ground that is retaken in terms of bringing value back to the LUNA and UST, and having a more healthy reserve that can handle catastrophic events much better. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. To get alerts, follow @terra_agora on Twitter or Telegram. What financial advisors need to know about crypto. Then you everyone made amazing contribution to the proposalIve done what I could and never expected such a big reach. . The above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words: Adding onto the airdropped tokens, the wallet of Terraform Labs (TFL) will be removed from the whitelist for the airdrop, as it is intend to make Terra a fully community-owned chain. Certain pre-determined set of criterias will set an initial unlock as well as a vesting schedule for the Terra ecosystem tokens. 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. The new LUNA token will have a circulating supply of 1 billion tokens. 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. Pre-crash UST holders will receive 10% of the new tokens. This is by far the best idea Ive come across [] there is absolutely no point in having an ecosystem where you k ill your hero product. 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. Ltd, Neblio Technologies Pvt. This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. 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. How To Buy PUNDIX Token In India? The ticker for the LUNA (old) token will be renamed as LUNC. The number of tokens that eligible users may receive in the airdrop will depend on the quantity of LUNC tokens held at a specific time (based on the pre-attack and post-attack snapshot timings). As Per press time, LUNAs price is trading near $6.09. 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. Your weekly wrap of Web3 news and trends. At the time of writing, luna 2 was trading at $8.18, with a self . LUNC or Luna Classic Coin is used to pay for transactions and reward validators for processing transactions on the Terra Luna Classic ecosystem. 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 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. In the long run, Terra aims to become a community-owned blockchain. The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. . Will it continue to fall below $1? 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. Youll be eligible for the airdrop, according to a Terraform LabsMedium blog post, if you: And/or at the Post-Attack snapshot, hold: The snapshot timings used in the above criteria are shown below: The LUNA 2.0 genesis block will take place on May 27, 2022, at which point 30% of the LUNA airdrop will be distributed, with the remaining 70% distributed over two years with a six-month cliff. Press question mark to learn the rest of the keyboard shortcuts. Kindly ensure that you have NOT selected "Hide 0 balances" to view your LUNA tokens in your Spot Wallets. Terraform Labs, the developer behind the Terra blockchain and its UST and . The exact distribution mechanism of this 1 billion . 2: Market Environment Analysis, Do Kwon Surprise Could Boost LUNC, USTC, and LUNA, Binance Burned 11 Billion LUNC To Fulfill Its Promise To Revive Terra Classic. The distribution ratio per account will be announced in a separate announcement. 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. We have compiled a list of exchanges where you can avail the new LUNA Tokens for you! 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. Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. Pre-depeg LUNA holders airdrop: 35%. I wasnt prepared for the hates I got from some people, so I will back off a little. !The final decision will belong of course to the team. Instagram Email us: [emailprotected]. The new LUNA Tokens will be distributes based on various criteria. ; March 2020: Chainlink will work with Solana to build a fast oracle system. *11,365,067 SOL tokens are burnt and removed from supply. 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. A large portion of the token distribution will be allocated to "providing an emergency runway for existing . CoinDesk journalists are not allowed to purchase stock outright in DCG. Terra (LUNA) Future Outlook and Price Prediction. So, if the price of LUNA is $50 per coin, the algorithm would require you to burn 2 LUNA to mint 100 UST. Anything else smells like financial fraud. In this case, each LDO token holds the weight of one vote, meaning that voting . Some people compare this tokenomics with Safemoon. https://info.coindcx.com/announcement/lisiting-delisting/luna-airdrop-holdings-calculation/. All rights reserved by Primestack Pte. A new Luna coin will also be produced as a result. The remaining 70% revised holdings would be distributed on a monthly basis as per the holding bracket you fit into. According to the official LUNA token distribution settings and schedule, The remaining 70%(Phase 2) of the distribution will be divided into 24 times, starting from December 2022. Table 1: LUNA Token Distribution Airdrop Calculation Logic LUNA Airdrop Ratios. 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. Telegram Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. For reference, please visit this link: https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837. LUNA) to all eligible users based on Terra project teams. For more information, please refer to. Now the rest belongs to the community. 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. Any LUNA tokenspresently held in the bridge contract will be placed aside as part of the community pool for distribution after the chain launches, according to the contract. Controlled by staked governance. . 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. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. New LUNA token distribution time. Instead of fighting with each other we should implement some measures that could help the ecosystem. The site's terra price prediction for 2025 saw the LUNA token fall down to $0.46 by the end of the year. - from June 2023 onward, monthly distribution over 24 months. This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . . Terra 2.0 is nearly here. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. As a result, investors holding LUNA tokens that are bridged off of Terra, such as Wormhole or wLUNA, may want to convert to LUNA tokens before the snapshot. (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. (and then resubmitting this proposal again in 12 months . While LUNA, UST holders get airdrops, these . $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. Snapshot is scheduled to begin on 27th May for all holders. People using terms like Equity and Debt need to be mindful of SECs reach. Follow. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. Confused with the Luna Token Distribution. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. 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