This design was meant to destroy the UST and restrict its supply which, in turn, should have boosted its value. The Luna token skyrocketed about 135% in less than two months until its peak in April 2022. 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. Airdrop rules As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. Please give it a vote! Lets take a look at the Gini Coefficient measures the inequality among address balances. 7/ As you can see, the proposal allocates a large portion of the token distribution to provide runway for existing Terra dApp developers and to align the interest of developers with the long-term success of the ecosystem. Note Crypto products and NFTs are unregulated and can be highly risky. Please find below the ratios in which 30% of the revised holdings have been distributed: Total eligible quantity (Airdrop): Quantity x Ratio (LUNC/USTC as per Pre/Post-Attack), Quantity which you get now (30%): Total eligible quantity x 30%, Still in doubt? The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. There's also a new LUNA token to go with it. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. 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. - from June 2023 onward, monthly distribution over 48 months. Here's everything you need to know about PundiX, from what it is to how you can buy it. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment. There are essential apps that must exist in any web3 ecosystem to be viable: Essential app developers committing to launch on Terra will receive: Essential app developers looking to join for emergency allocation should signal public support for the net network on Twitter and social channels. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. LinkedIn Following the previous announcement, Crypto.com is pleased to announce that the airdrop of the new Terra 2.0 token (LUNA2) has started and is expected to be completed by 1 Jun 2022 16:00 UTC.. Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. Don't have your own account? Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. 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 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. at Terra Classic block height of 7,790,000. - from June 2023 onward, monthly distribution over 24 months. 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. Markets 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. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. The lower the price gets, the higher the burning rate of the transaction. The new LUNA token will have a circulating supply of 1 billion tokens. I think having a algorithm in the protocol for mint / burn (for exchanging), as well as selling that responds dynamically to volume (rather than a hard coded value) for the Terra blockchain would help slow down to a reasonable pace those transactions that could create a run and quick loss of confidence, but allow quicker transactions in accordance with the speed the blockchain would allow for for tiny transactions. 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. Commit to returning funds if product has not been launched in 1 year. This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. "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 . TerraForm Labs CEO Do Kwon has proposed a Terra Luna hard fork to rebuild the ecosystem. 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). 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. 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. Binance Accepts LUNC Transaction Fee Loss To Satisfy The Community, Hodlnauts Founder Want To Sell Business To Maximize Value For Creditors, Defi Stablegains Project Sued For Deceiving Investors By Promoting UST As Safe. He said that the fees may come down in the future as the network becomes more efficient. Minting $100 . 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. There may be no regulatory recourse for any loss from such transactions. Post-attack UST holders - 15%. Head to consensus.coindesk.com to register and buy your pass now. (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. 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. The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. Press question mark to learn the rest of the keyboard shortcuts. Convert 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. How To Buy PUNDIX Token In India? . Earn attractive annual interest through lending, STAKE This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. Members of those groups who were active on Sept. 9, 2021 at 00:01 UTC (Terra block # 4,451,515) will be eligible to claim their proportional share of 25 million ASTRO tokens as shown in the table below. Which crypto exchanges will support Terra Network Airdrop? 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. LUNA, the proof-of-stake coin powering the new Terra blockchain. . Please enter your username or email address to reset your password. 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.. I believe this is the only way that people will truly see a recovery of LUNA and UST. There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. New LUNA token distribution time. LUNA) to all eligible users based on Terra project teams. UST burning Post-Pegging as a function of the UST price to prevent and punish any future similar attacks. LUNA2 will reflect in your portfolio only if the current value of . New LUNA (LUNA2) Airdrop. LUNA tokens will not be included in LUNA 2.0. I need to make it going somehow. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. A billion new Luna tokens will be airdropped to stakers and developers if approved. Terra Luna's revival plan. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. Users will earn staking rewards on their vesting LUNA starting from the point at which it is staked, and can claim these rewards at any point., Regarding vested LUNA, if a user would like liquid LUNA as soon as their cliff hits, theyll need to undelegate their staked, vested LUNA at least 21 days before the first day of their cliff. Table 4 of the Medium postings, however, says that bridging LUNA will be distributed at a later date.. The biggest crypto news and ideas of the day. Now the rest belongs to the community. For more information, please refer to. 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. The target was determined as per the available collateral of 25000 BTC valued at $750m at the current market price. You need to hold 5 LUNA in a Terra wallet to post. SPOT . By the end of the year, Terra is expected to reach a minimum value of $3.83. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. Create an account to follow your favorite communities and start taking part in conversations. Ive got family, work and life too. March 2020: Bison Trails will support staking for the SOL token when the Solana mainnet becomes live. For further information about the new Terra (LUNA) Airdrop Program, please refer to: It wont be like Safemoon, because in its case all transaction fee volume is distributed between holders (fat get fatter and only part of it is burned). A new Terra blockchain is set to go live on mainet Friday. The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA) . Read more to find out! Wouldnt that be wonderful? Then you everyone made amazing contribution to the proposalIve done what I could and never expected such a big reach. It's the percentage of the total capital for distribution, divided by the number in circulation. The table below summarizes everything that will be included in the LUNA 2.0 airdrop. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. Details concerning the token distribution . Transactions. Ltd/ Neblio Technologies Pvt. 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. 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. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. 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. 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