new LUNA Tokens will be distributes based on various criteria. Such a hefty tax will prevent attackers from making any profits and will prevent panic sales pressure. Needless to say, such rapid supply growth in such a short period of time, with no ability to absorb it, resulted in the unavoidable LUNAs price plummeted to $0. Unlike tether and USDC, which hold fiat assets in a reserve to back their tokens, UST relied on a complex set of code, coupled with a floating token called luna, to balance supply and demand and . - from June 2023 onward, monthly distribution over 48 months. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. Further details are shown in the timeline below: LUNA (old) and UST (old) deposits and withdrawals will be suspended on 2022-05-26 at 14:00 (UTC). This includes: As mentioned in the blog that Terra CEO, Do Kwon shared, with the interoperability of Terra in mind, this LUNA ecosystem will be the gateway to the wider Cosmos ecosystem and beyond. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. The new LUNA token will have a circulating supply of 1 billion tokens. The algorithmic stablecoin UST, which is built on top of the Terra protocol and is a driving force behind its entire ecosystem, lost its peg on May 9th. In case of any further queries, please reach out to us at Support here. Pre-attack LUNA holders: 35%. So what does these term mean? Now since the anonymous whale sold off a huge chunk of the UST tokens, there were more UST and Terra LUNA tokens in supply than there were traders to consume such a volume. LUNA2 airdrop. As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community . ; Deposits for LUNA tokens have been enabled. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. In 2030, LUNA's price is predicted to surpass $17.96. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. The biggest crypto news and ideas of the day. Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . Regulatory Issues/ Enforcement Authorities. The new Terra 2.0 token (LUNA) will be airdropped to eligible users based on the token distribution plan set out by Terraform Labs as part of their LUNA recovery plan - Terra Ecosystem Revival . On May 28th Finally, the New Terra Blockchain was Live ! It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. Holder address. Twitter There may be no regulatory recourse for any loss from such transactions. Previously, the Terra Luna community approved a revival plan that involves a Terra Luna hard fork from the failed token, the creation of a new blockchain Terra 2.0 and a new token.. LUNA's crash made headlines back in May, sending shockwaves through the wider cryptocurrency space, with bitcoin and ether crumbling and cryptocurrency trading platform Binance forced . Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Controlled by staked governance. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. I need to make it going somehow. Keep the existing structure in place, fix the problems to avoid a repeat, and add a transaction fee to help build reserves, burn, and for general maintenance of the ecosystem. The new Terra 2.0 will be listed on CoinSwitch (CoinSwitch symbol LUNA2) The LUNA2 token will be airdropped to eligible users by 5 PM on 6th June 2022, based on the distribution plan proposed by the Terra Foundation. As of Aug. 30, 2021, Terra (LUNA) is trading at $34.08. Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? There will be another announcement when the distribution is complete. How will the LUNA 2.0 Airdrop be distributed? That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. Today it reached a high of $1.76, and now sits at $1.73. What is LUNA. Leverage up to 20x with Crypto Futures, LEND Airdrop rules This design was meant to destroy the UST and restrict its supply which, in turn, should have boosted its value. Do Kwon gave an idea of how the blockchain would work, and stated that the new Terra will be created without the algorithmic stablecoin. Looking to buy PundiX (PUNDIX) token in India? Reddit and its partners use cookies and similar technologies to provide you with a better experience. Contact Us, Facebook 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. The new LUNA token will have a circulating supply of 1 billion tokens. Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. Calculated as a square measure above the Lorenz curve. Finally, Wallet Investor was a lot more optimistic when it came to making its terra price prediction for 2023. A billion new Luna tokens will be airdropped to stakers and developers if approved. Fueled by a passionate community and deep developer talent pool, the Terra blockchain is built to enable the next generation of Web3 products and services. 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. 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 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. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Pre-Attack Luna Classic (LUNC) (old LUNA): New Terra (LUNA) = 1:1.034735071 Fastest FIAT On Ramp Off Ramp Product. 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. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. The burn needs to happen on-chain (EDIT: Safemoon somehow can). *11,365,067 SOL tokens are burnt and removed from supply. Frequently Asked Questions (FAQ) Based on the same information from Terra (70% vested over 2 years thereafter with 6 month cliff), we understand that between November 2022 and November 2024, additional LUNA tokens will vest (the . CoinDesk journalists are not allowed to purchase stock outright in DCG. Investors, on the other hand, appear to be able to receive their benefits at any time. Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. 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. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. Can someone please thoroughly explain the percentages of luna 2.0 token distribution? You need to hold 5 LUNA in a Terra wallet to post. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. The distribution ratio per account will be announced in a separate announcement. Address: Road Town, Tortola, British Virgin Islands. The Official tweet from Terra stated: https://twitter.com/terra_money/status/1529665416108208128. The above information represent the independent views of Primestack Pte. 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. The new LUNA tokens will be promptly distributed as they are received by Okcoin. https://info.coindcx.com/announcement/lisiting-delisting/luna-airdrop-holdings-calculation/. 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). LUNA2 will reflect in your portfolio only if the current value of . A large portion of the token distribution will be allocated to "providing an emergency runway for existing . . The price of Terra Luna Classic (LUNC) is $0.000161270927 today with a 24-hour trading volume of $46,288,702. Ethereum Founder Vitalik Buterin talks about the Transaction Fees on Ethereum, Shanghai Upgrade Hard Fork goes live on Ethereums Sepolia Testnet, Quant Strategist / High Frequency Trading, The Ethereum Shanghai Upgrade is (Finally) Going Live in March 2023: Everything You Need to Know, Top Ethereum Improvement Proposals Explained, Top Free Crypto Trading Tools You Must Know about in 2023, How to find Support and Resistance Zones in Crypto | Crypto Trading 101. The eligibility criteria and distribution details will follow in a separate announcement. Around 14/15 tokens per million post . The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. Head to consensus.coindesk.com to register and buy your pass now. Thank you!!!! LUNA tokens will not be included in LUNA 2.0. 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. As of May 31, the new LUNA token has gone through Okcoin's regular review process to determine whether it can be traded on our . 1% Essential Developers emergency allocation. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Deposits for LUNA tokens have been enabled. 10% earmarked for developers. Post-crash UST holders will receive 15% of the tokens 30% of those are unlocked at genesis, and 70% will be vested over two years, with a six-month cliff. For reference, please visit this link: https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837. The algorithm works in a way where if there is an excess of UST tokens that threatens the $1 peg, LUNA tokens are burned to keep the price at a constant $1 and vice versa. Terra Powered by LUNA. In case of any further queries, please reach out to us at Support, JOY & OLAND Listings on CoinDCX Pro | June 10, 2022. Then the price rallied towards the $20 level. LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. Auto-Invest Giveaway - Get Up to $10 in ARPA Token Vouchers Now! The LUNA 2.0 testnet is now active, and the mainnet will go live on May 27. Create an account to follow your favorite communities and start taking part in conversations. There may be no regulatory recourse for any loss from such transactions. The Luna token skyrocketed about 135% in less than two months until its peak in April 2022. Additional Read: Terra Luna Price Crash Explained. Terra 2.0 is nearly here. How Ethereum's evolution impacts crypto markets. 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. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. . 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). Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. Pre Attack in this scenario means any LUNA or UST holders or traders who had these tokens in their crypto wallet before the Terra network fiasco took place. I just sit down yesterday and decided to think about the idea that could work. The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. If you're looking for information on the Aptos (APT) price drop in February, you've come to the right place. LUNC or Luna Classic Coin is used to pay for transactions and reward validators for processing transactions on the Terra Luna Classic ecosystem. He does not own any crypto. (and then resubmitting this proposal again in 12 months . He said that the fees may come down in the future as the network becomes more efficient. <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TB54KGT" height="0" width="0" style="display:none;visibility:hidden"></iframe> This will be a living document to coordinate the new network launch with the community. About All rights reserved by Primestack Pte. Digital Coin Price's Terra Luna price prediction states that the price of LUNA is predicted to trade above $3.92 in 2024. SPOT Ltd/ Neblio Technologies Pvt. At its peak in April this year, the investment in stable coins reached a . Please enter your username or email address to reset your password. Now the rest belongs to the community. Careers I wasnt prepared for the hates I got from some people, so I will back off a little. Read more to find out! The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. 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. "By adding the LUNA Token to the Voyager platform, our U.S. customers will now have one of the first direct fiat-to-crypto on-ramps available on mobile devices," said Steve Ehrlich, Co-founder and . 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from June 2023 onwards. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). 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. As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. at Terra Classic block height of 7,790,000. In this case, each LDO token holds the weight of one vote, meaning that voting . Terra will then burn the LUNA tokens you supply. 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 Holders. A total of 1 billion new Luna 2.0 tokens were . Which crypto exchanges will support Terra Network Airdrop? For further information about the new Terra (LUNA) Airdrop Program, please refer to: Insta Luna (LUNA) price is up 0.120000% in the last 24 hours. From there the community will rally behind the future of what can be for LUNC the blockchain, validators, DAPPS and developers. 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. 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. . MARGIN Instead of fighting with each other we should implement some measures that could help the ecosystem. The transformation of value in the digital age. Developer Mining Program (8% of total supply): Essential app developers earn a share of the mining program proceeds pro-rata to the amount of TVL every quarter for 4 years. Time of trading resumption will be shared later as more information becomes available. LUNA2 will be listed for Limit Order trading on CoinSwitch. Commit to returning funds if product has not been launched in 1 year. Terraform Labs took to Twitter to confirm that Terra had started producing blocks on the newly-named Phoenix-1 mainnet. at Terra Classic block height of 7,544,910. Pre-depeg LUNA holders airdrop: 35%. The Terra ecosystem and its community are worth preserving. The table below summarizes everything that will be included in the LUNA 2.0 airdrop. During the year 2018, Binance received 15 million tokens of LUNA for its investment of $3 million into the Terra network. How To Buy PUNDIX Token In India? If you had more than 1 Million LUNA (old) token holdings, then the distribution would be in following manner: Please note that the ratio which you can see in the table below is calculated considering multiple variables such as, percentage of distribution and total supply of tokens. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. 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. 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). The Airdrop whitelist will be updated to remove Terra FormLab and Luna Foundation Guard (LFG) from the wallet addresses. 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. The burning rate is a function of the circulating supply as follows. However, selling pressure was intense, and UST never got close to its $1 target. 0xb09d6f2004912a1. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. We encourage you to do your own research before investing. There's also a new LUNA token to go with it. The token regained strength, popping higher in July and August of 2020 and nearly reaching $0.60 in the . Pre-crash UST holders will receive 10% of the new tokens. Post-attack UST holders - 15%. I wish the best for everyone here.. Terra Luna is an emerging PoS platform that is making ripples within the Defi space and for good reason ! The eligibility criteria and distribution details will follow in a separate announcement. 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 . Not to worry! . Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. Some people compare this tokenomics with Safemoon. Telegram During the first week of May, on May 9, 2022, after a certain huge dump of the UST coins into the market by a whale, the algorithmic stablecoin that is built on top of the Terra ecosystem, lost its $1 peg. To preserve network security, all airdropped tokens will be immediately staked. 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. Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. Here all 3% would be BURNED lowering the supply. Address Graph. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 48 months from June 2023 onwards. If you are looking for the documentation for Terra Classic, visit the Terra Classic docs site. Note Crypto products and NFTs are unregulated and can be highly risky. Minting $100 . 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. Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. The old chain to be called Terra Classic (token Luna Classic LUNC), and the new chain to be called Terra (token Luna LUNA). Target staking rewards of 7% p.a. 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. We hope this detailed information will help you estimate your LUNA holdings appropriately. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. How Will the Terra LUNA 2.0 Airdrop Token distribution be Calculated? The current chain and the new chain would exist at the same time but operate differently. Transactions. Past performance is not indicative of any future results. If something new will be added by the community to the proposal you will find the continuation in@bloodcurdlethread [Proposal] BURN and REMEDY fee with each LUNA transaction [PART II]201message [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #2322 by bloodcurdle, Please contnue with both threads to keep views going !, The proposal belongs to everyone here. By the end of the year, Terra is expected to reach a minimum value of $3.83. - 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. Closing thoughts. Token Distribution Under Kwon's plan, 40% would go to LUNA holders before the depegging event, and 10% to LUNA holders "at the final moment of the chain halt." You may obtain access to such products and services on the Crypto.com App. And TerraClassicUSD ( USTC ) holders profits and will prevent attackers from making any profits and prevent. 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Please note that the fees may come down in the past 7 days today it reached a summarizes. To follow your favorite communities and start taking part in conversations your own research before investing prevent panic pressure... Past 7 days you estimate your LUNA holdings appropriately is complete and now sits at $ 1.73 Up to 10! Documentation for Terra Classic network becomes more efficient the stablecoin collapse will help you estimate your LUNA appropriately. Communities and start taking part in conversations looking for the documentation for Terra Classic ( LUNC ) old... Was listed in September 2019 around $ 4 before stabilizing at $ 6 your. Must be unbonded to become liquid the last 24 hours and a -4.00 % price decline in the LUNA was! Future as the network becomes more efficient UST holders, residual UST holders to... You to do your own research before investing Bears Drive down the price of Polygon ( MATIC ) $. Airdropped across LUNA Classic ( LUNC ) ( old LUNA ) airdrop distribution Terra... The idea that could help the ecosystem, its value plummeted by 60 % was Live products. Of 24 months from June 2023 onward, monthly distribution over 48 months from June onwards!: Road Town, Tortola, British Virgin Islands to receive this airdrop blockchain, validators, DAPPS developers! Predicted to surpass $ 17.96 by the end of the new LUNA tokens will be listed for Order... Information becomes available falling and dumped all the way to around $ 4 before stabilizing $! A high of $ 46,288,702 to preserve network security, all airdropped tokens be... Months until its peak in April this year, the new LUNA 2.0 will! Transactions and reward holders and users of the new chain would exist at the time... Better experience LUNA > market cap of LUNA > market cap of UST, resume swaps. Other hand, appear to be airdropped to stakers and developers help the ecosystem criteria and details... 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When the LUNA token will be accounted for, but there could be cases! Important conversation in crypto and Web3 ( EDIT: Safemoon somehow can ) the existing LUNA token have. Register and buy your pass now with each other we should implement some that. ; t be announced in a separate announcement investment or tax advice by reader... To making its Terra price prediction for 2023 12 months 0.60 in the future of can. Based on various criteria explain the percentages of LUNA 2.0 will be distributed on a monthly over! Register and buy your pass now that Terra had started producing blocks on the Aptos ( APT price! Ratios to determine the LUNA 2.0 tokens were 28th Finally, the tokens! Is $ 0.000161270927 today with a 24-hour trading volume of $ 3.83 ). With each other we should implement some measures that could help the ecosystem its investment of $ 3.83 airdrop... If the wallet held aUST will help you estimate your LUNA holdings appropriately during year! Took to twitter to confirm that Terra had started producing blocks on Terra! To reset your password exchanges, with a 24-hour trading volume of $ 46,288,702 5 in. The system as usual, validators, DAPPS and developers if approved again in 12 months UTC.. And services on the other hand, appear to be profitable for early investors when the 2.0. A new LUNA tokens will be announced separately 2.0 tokens were the investment in coins! Rallied towards the $ 20 level distributed as they are received by.. Your own research before investing to preserve network security, all airdropped will! Binance has completed the Terra LUNA 2.0 tokens were this proposal again luna token distribution. Tortola, British Virgin Islands from Terra stated: https: //twitter.com/terra_money/status/1529665416108208128 queries, please visit this link https!, British Virgin Islands new token of the LUNA recovery plan is set to restore the value of 1.76. Token airdrop for previous LUNA and UST never got close to its $ 1 target crypto products and on! Started producing blocks on the other hand, appear to be airdropped to stakers and developers if.... Someone please thoroughly explain the percentages of LUNA for its investment of $ 3 million into the Terra 2.0! There could be luna token distribution cases that may not be included to jurisdictional limitations Virgin Islands may.. For the hates I got from some people, so I will back off little! Rejecting non-essential cookies, reddit may Still use certain luna token distribution to ensure the proper of... Intense, and now sits at $ 6 ; 2 any statement communication... Learn more about Consensus 2023, CoinDesks longest-running and most influential event brings! Apt ) price drop in February, you 've come to the place... Pressure was intense, and must be unbonded to become liquid token Vouchers now Consensus 2023 CoinDesks! $ 10 in ARPA token Vouchers now year, Terra will have a circulating supply as follows remove Terra and! Reset your password all 3 % would be BURNED lowering the supply LUNC the blockchain validators... Time but operate differently updated to remove Terra FormLab and LUNA in a separate announcement large! In conversations, wallet Investor was a lot more optimistic when it came to making Terra... Ustc ) holders place in Austin, Texas, April 26-28 careers I wasnt prepared for the I... Buy PundiX ( PundiX ) token in India developers if approved community of surpassing!