The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). As of Aug. 30, 2021, Terra (LUNA) is trading at $34.08. 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 . 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. Post-crash LUNA holders will receive 10% of the new tokens, including staking derivatives 30% of the tokens will be unlocked at genesis, with the remaining 70% vested over two years, with a six-month cliff. 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. Please enter your username or email address to reset your password. Now the rest belongs to the community. A new Terra blockchain is set to go live on mainet Friday. Time of trading resumption will be shared later as more information becomes available. Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! A large portion of the token distribution will be allocated to "providing an emergency runway for existing . Pre-crash UST holders will receive 10% of the new tokens. 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). 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. LUNC or Luna Classic Coin was created on the 05/27/2022. 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 . In an official blog post, Terra explained the distribution of Luna tokens to existing users in the following manner. 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. Markets Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. I wish the best for everyone here.. It is not intended to offer access to any of such products and services. Pre-crash LUNA holders will receive 35% of the new tokens. 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. 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. Ltd, and/or their affiliate entities and are for informational & educational purposes only. Confused with the Luna Token Distribution. As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. 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. 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. Quant Strategist / High Frequency Trading Full Time, Security What you are going to read here is first part of the proposal. About 30% of tokens will go to a pool of investors in . Any LUNA tokens presently 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. 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. Amount. The site's terra price prediction for 2025 saw the LUNA token fall down to $0.46 by the end of the year. In 2030, LUNA's price is predicted to surpass $17.96. Subject to Crypto.com's successful receipt of the Terra project team's issuance of LUNA2 tokens, we will facilitate the distribution of the new Terra 2.0 token (LUNA2) to all eligible users. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. 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 new LUNA tokens will be promptly distributed as they are received by Okcoin. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. Pre-attack aUST holders - 10%. 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. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. Trading with a near limitless order book. Small vs Higher Fee (Opinion in contrary to 3rd point here)ultimately the goal is to encourage folks to keep using Luna instead of higher taxes, just keep building more products and services to encourage it. . Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. Crypto bridges are essentially crypto wallets that allow you to hold and trade multiple crypto in one place. *11,365,067 SOL tokens are burnt and removed from supply. 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. Here all 3% would be BURNED lowering the supply. Luna Holders. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. Hopefully do kwon and his@teamwill figure something out that will work for everyone, especially those who lost a lot of money and their savings. Trading with a near limitless order book. LUNC or Luna Classic Coin is used to pay for transactions and reward validators for processing transactions on the Terra Luna Classic ecosystem. 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. Details concerning the token distribution . Please someone explain!! . There will be another announcement when the distribution is complete. 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%. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. Futures 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). We hope this detailed information will help you estimate your LUNA holdings appropriately. 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. As mentioned in the Terra website, the Terra Network Airdrop will be happening according to the following: To convert LUNA Classic to INR visit LUNC to INR Calculator. Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. Terra 2.0 is nearly here. Developer Alignment Program (1.5% of total supply): Protocol teams that were live in Terra Classic divide this allocation weighted by the last 30 day TVL from Pre-attack snapshot 1 year cliff, 3 year vesting thereafter. . It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. What is LUNA. This seems like the simplest way out of this.. Luna rose by 1000 percent in the last 24 hours, while UST rose by a hundred percent from about 0.09 to 0.2. 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. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. Further mechanics could be put in place to reduce the risk such as reserves, burns, amount of luna that can be minted per x time, etc but under no circumstance should Luna be minted when market cap of luna goes below the market cap of UST. Follow this link to understand the calculation in more details: Investors will return.link: Validators can set their own minimum gas fees. The arrangements are as follows: 1. Because of the way the algorithm works, traders were able to redeem 1 UST (which was trading below $1) for $1 worth of LUNA. Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. You may obtain access to such products and services on the Crypto.com App. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? . (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. In short, theyre going to keep Layer 1 technology while avoiding the stablecoin method that caused the LUNA death spiral. Deposits for LUNA tokens have been enabled. LUNA 2.0 Airdrop, Tokenomics, and Distribution Airdrop and Distribution. 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. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. If you had 10,000 to 1 Million LUNA (old) token holdings before 07:30 AM (IST) on May 8, 2022, then the distribution would be in the following manner: 30% of the new LUNA tokens were distributed on June 6, 2022. All rights reserved by Primestack Pte. Here, the existing Terra blockchain would be split into two blockchains. Please dont vote if you havent staked LUNA. Ltd. About UsBlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsAML PolicyRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, FAQsRaise a Support TicketCoin Listing Request, BlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsRefund/Cancellation PolicyRefer OthersSecurityBug-Bounty, Intro to Margin TradingIntro to Futures TradingIntro to Staking, Customer Support: [emailprotected]Team: [emailprotected]Press: [emailprotected]Regulatory Issues/ Enforcement Authorities: [emailprotected]FAQsRaise a Support Ticket. LUNA2 airdrop. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . KuCoin has finished the first distribution of the new Terra (LUNA) tokens to Luna Classic (LUNC) (old LUNA) and Terra Classic USD (USTC) (old UST) holders at the ratio below:. I just sit down yesterday and decided to think about the idea that could work. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. 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. The biggest crypto news and ideas of the day. 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. How Ethereum's evolution impacts crypto markets. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. Whether Terra (LUNA) will hit $50 in the near future depends on a lot of factors. No lockup. I wasnt prepared for the hates I got from some people, so I will back off a little. This burn tax could be a measure put in place until the supply is low enough for us. LongForecast 's terra crypto price prediction held a bearish view on the future of LUNA. The new LUNA token will have a circulating supply of 1 billion tokens. The price of Terra Luna Classic (LUNC) is $0.000161270927 today with a 24-hour trading volume of $46,288,702. At its peak in April this year, the investment in stable coins reached a . - 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. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. Its the percentage of the total capital for distribution, divided by the number in circulation. The distribution ratio per account will be announced in a separate announcement. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. What is Terra 2.0? 1.3 Solana's recent news. 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