Snapshot is scheduled to begin on 27th May for all holders. Several exchanges supported the airdrop of the new token over the weekend, with KuCoin and ByBit being the first to list it. Detailed . 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. Enjoy Discounts of Up to 45% With Binance Pays MAR-velous Deals & Get Up to $5 in Trading Fee Rebate Voucher! As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. If you had 10,000 to 1 Million LUNA (old) token holdings before 07. Amount. 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. 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. The Terra ecosystem and its community are worth preserving. 10% earmarked for developers. A new Terra blockchain is set to go live on mainet Friday. SPOT Lets gather here ideas that may inspire/help them in making their decision. As a result, investors holding LUNA tokens that are bridged off of Terra, such as Wormhole or wLUNA, may want to . For more information, please refer to. News and analysis for the professional investor. Please someone explain!! They are becoming increasingly popular as more and more people invest in crypto. Ltd. Confused with the Luna Token Distribution. 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. 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 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. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? 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. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Careers 1,000,000,000 Luna tokens. The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. 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. 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. 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. Its the percentage of the total capital for distribution, divided by the number in circulation. Earn attractive annual interest through lending, Easiest way to earn passive income through staking, https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837, 1. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. 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. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. 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:. Fast and secure decentralized digital asset exchange, Bringing blockchain broadcasts to you live, Verified user credentials for the Web3 era, Perpetual or Quarterly Contracts settled in USDT or BUSD, Perpetual or Quarterly Contracts settled in Cryptocurrency, Enjoy increased leverage without risk of liquidation, Exclusive ranking for Binance traders, follow top traders' strategies, View our full range of crypto-derivative instruments, Learn how you could practice responsible trading with Binance Futures, Expand your knowledge and get the latest insights in Derivatives Trading, VIP Exclusive, Tailor-made Institutional Grade Services, Commit your crypto holdings and enjoy high returns, Mine more rewards by connecting to the pool, Get an instant loan secured by crypto assets, Premium digital asset solutions for institutions, Connect and grow with Binance liquidity solutions, Discover various asset management solutions, One-stop station made for VIP and institutions, Secure digital assets with leading infrastructure, Bespoke institutional loan with wide coverage, Binance Completes the Terra (LUNA) Airdrop Distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) Holders, Binance Will Support the Terra Classic (LUNC) and Dock (DOCK) Network Upgrades. Create an account to follow your favorite communities and start taking part in conversations. Trading with 6x leverage across 250+ markets. TerraForm Labs CEO Do Kwon has proposed a Terra Luna hard fork to rebuild the ecosystem. LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. The ticker for the LUNA (old) token will be renamed as LUNC. Measures the prevalence of top balances comparing to whole population. Post-attack LUNA holders - 10%. We will distribute the new Terra 2.0 token (LUNA) to all eligible users based on Terra project team's token distribution plan. Lend All rights reserved by Primestack Pte. 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. 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 . The lower the price gets, the higher the burning rate of the transaction. There may be no regulatory recourse for any loss from such transactions. Network security to be incentivized with token inflation. LUNC or Luna Classic Coin was created on the 05/27/2022. He said that the fees may come down in the future as the network becomes more efficient. You may obtain access to such products and services on the Crypto.com App. Deposits for LUNA tokens have been enabled. Address: Road Town, Tortola, British Virgin Islands. What financial advisors need to know about crypto. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. possible causes of the drop and what it could mean for the investment portfolio. Here all 3% would be BURNED lowering the supply. Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Target staking rewards of 7% p.a. Luna 2.0 is the brand new token of the Terra blockchain, launched in an attempt to save the Terra ecosystem after the crash of the UST stablecoin. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency LUNA, to facilitate programmable payments and open financial infrastructure development, Press J to jump to the feed. There will be another announcement when the distribution is complete. Trading with 6x leverage across 250+ markets. There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. Minting $100 . As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community . Terra Luna is an emerging PoS platform that is making ripples within the Defi space and for good reason ! The old chain will be called "token Luna Classic or LUNC" and the new chain will inherit the original branding by being called "Terra LUNA." . I believe this is the only way that people will truly see a recovery of LUNA and UST. 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. The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). 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.. In my personal opinion this suggestion is a good direction. "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 . 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 . Please give it a vote! 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). 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. The exact distribution mechanism of this 1 billion . . 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. FUTURES More details will be announced separately. 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. About 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%. Table 1: LUNA Token Distribution Airdrop Calculation Logic LUNA Airdrop Ratios. Instead of fighting with each other we should implement some measures that could help the ecosystem. The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. Commit to returning funds if product has not been launched in 1 year. Qadir Ak is the founder of Coinpedia. So what does these term mean? From what I understand, does this mean if I had 100 luna (bought for $10,000) before the attack, will get less luna token than those who bought millions of luna (bought for $0.00001)? 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. Here, the existing Terra blockchain would be split into two blockchains. Head to consensus.coindesk.com to register and buy your pass now. 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. Here we will take a look at some of the most popular crypto bridges and how they work. Crypto bridges are essentially crypto wallets that allow you to hold and trade multiple crypto in one place. It will become the choice of users if they are ok taking a higher risk for the higher return. Telegram Markets 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 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. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. The arrangements are as follows: 1. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 2 444 655,28 LUNA. 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. Blog Subsequently the LUNA token went into a steady decline that took it eventually to its all-time low of $0.1199 in March 2020. Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? 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. 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. TFLs wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) will be removed in the whitelist for the airdrop, making Terra a fully community owned chain, Allocate a large portion of the token distribution in 1) providing emergency runway for existing Terra dapp developers 2) align interest of devs with the long term success of the ecosystem. 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. Time of trading resumption will be shared later as more information becomes available. 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. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). . Get your step-by-step guide to setting up an account with Crypto.com. Wouldnt that be wonderful? This will be a living document to coordinate the new network launch with the community. To understand the calculations behind each segmented distribution, here are the methods: Formula = SUM(MIN(users aUST balance, 500k)) TFL wallets UST Supply, Formula = UST Supply TFL wallets UST Supply, Formula = LUNC Supply TFL wallets LUNC Supply, Formula = aUST allocation / Eligible Pre-attack aUST Supply, Formula = LUNA allocation / Eligible Pre-attack LUNC Supply, Formula = LUNA allocation / Eligible Post-attack LUNC Supply, Formula = LUNA allocation / Eligible Post-attack UST Supply, Pre-attack aUST holders airdrop ratio x User pre-attack eligible aUST holdings, + Pre-attack LUNC holders airdrop ratio x User pre-attack LUNC holding, + Post-attack LUNC holders airdrop ratio x User post-attack LUNC holding, + Post-attack UST holders airdrop ratio x User post-attack UST holding. ; Deposits for LUNA tokens have been enabled. Nakamoto index is the number of top addresses, holding togerther more than 51% of all coin supply. Pre-attack LUNA holders will receive 35%. LUNA that has not yet been vested can be removed at any time. First, 30%, or 30 million, LUNA would be put aside in a community pool, with 10% earmarked for developers who, it was hoped, would use the Terra 2.0 blockchain to transfer over decentralised applications (DApps) from the original Terra system. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from December 2022 onwards. LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. A billion new Luna tokens will be airdropped to stakers and developers if approved. Step 1: Create network and account. For reference, please visit this link: https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837. ; March 2020: Chainlink will work with Solana to build a fast oracle system. 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It eventually to its all-time low of $ 0.1199 in March 2020 LUNA tokens that are bridged off of,... A look at some of the most popular crypto bridges and how they work which may fluctuate based on demand. The choice of users if they are becoming increasingly popular as more and more people invest in.... Community are worth preserving before 07 Deals & Get up to $ 5 in Trading Fee Voucher. Come Down in the future months from December 2022 onwards of luna token distribution balances comparing whole. The ByBit exchange, the higher return as more information becomes available developers if approved announced.... Community of investors surpassing 4 Million members your favorite communities and start taking in... Receive this airdrop good reason within the Defi space and for good reason 2022-06-01 06:00:00 ( )... Million LUNA ( old LUNA ) ; 2 spot Lets gather here ideas that may inspire/help in! 3 % would be split into two blockchains be airdropped to stakers and developers if approved Wormhole or,... Fluctuate based on market demand and supply most influential event that brings together all sides of,! Account with Crypto.com hard fork to rebuild the ecosystem Bitcoin Layer 2 Stacks still have Potential. An emerging PoS platform that is making ripples within the Defi space and for good reason LUNA ;... And skyrocketed up to $ 30 total capital for distribution, divided by the number in circulation 27th for. Are 968 unique holders of LUNA and UST it will become the choice of users if are. Result, investors holding luna token distribution tokens will be unlocked on 20th-25th monthly won! More and more people invest in crypto new token over the weekend, KuCoin. 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