Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. Follow. <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TB54KGT" height="0" width="0" style="display:none;visibility:hidden"></iframe> Reddit. New LUNA token distribution time. 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. 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." . LUNA (old) and UST (old) borrowed from Margin or Crypto Loans, or LUNA (old) and UST (old) transferred to Spot accounts from these accounts, will not qualify to receive tokens from the airdrop. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. 1,000,000,000 Luna tokens. "The distribution . 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 . This will be a living document to coordinate the new network launch with the community. SPOT Pre-crash LUNA holders will receive 35% of the new tokens. From there the community will rally behind the future of what can be for LUNC the blockchain, validators, DAPPS and developers. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. Trading with 6x leverage across 250+ markets. The new LUNA Tokens will be distributes based on various criteria. Email us: [emailprotected]. The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. Your weekly wrap of Web3 news and trends. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. 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. How will the LUNA 2.0 Airdrop be distributed? It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . Around 14/15 tokens per million post . The biggest crypto news and ideas of the day. 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. What is LUNA. People using terms like Equity and Debt need to be mindful of SECs reach. LUNA2 is the native token used for governance of the network. Trading with 6x leverage across 250+ markets. The eligibility criteria and distribution details will follow in a separate announcement. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. 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. LUNA 2.0 was rumored to cost $50 upon launch, with some rumors speculating prices ranging between $30 and $60. All rights reserved by Primestack Pte. DISCLAIMER:The Information on this website is provided as general market commentary and does not constitute investment advice. LUNA 2.0 Airdrop, Tokenomics, and Distribution Airdrop and Distribution. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. Trading with a near limitless order book. As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. 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. LUNA that has not yet been vested can be removed at any time. 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. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. Please enter your username or email address to reset your password. People that just bought Luna say their votes are invalid, thus wasted. 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? Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . if they are sold, then this is only a plus for burning, since you cannot miss the trading volume that is going on now. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. The table below summarizes everything that will be included in the LUNA 2.0 airdrop. Terra Powered by LUNA. Step 1: Create network and account. 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 . 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. Terraform Labs, the developer behind the Terra blockchain and its UST and . Please give it a vote! Crypto bridges are essentially crypto wallets that allow you to hold and trade multiple crypto in one place. Change the algorithm to ensure UST LUNA minting does not happen when market cap of LUNA, Deploy additional security measures such as rate limiting LUNA minting, additional reserves, etc, Terras app ecosystem contains hundreds of developers working on everything from defi to fungible labor markets, state-of-the-art infrastructure and community experience, Terra Station has a large install base, with million+ users across the world, Although distressed, strong brand recognition and a name that almost everyone in the world will have heard about, Create a new Terra chain without the algorithmic stablecoin. 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. Get your step-by-step guide to setting up an account with Crypto.com. . 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. LUNC or Luna Classic Coin was created on the 05/27/2022. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? . Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . Several exchanges supported the airdrop of the new token over the weekend, with KuCoin and ByBit being the first to list it. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). Pre-crash UST holders will receive 10% of the new tokens. The Terra ecosystem and its community are worth preserving. We can do this by depositing ~750k USD worth of tokens into a enterprise DAO and releasing a months worth of funds at a time. For more information, please refer to. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. 10% earmarked for developers. Quant Strategist / High Frequency Trading Full Time, Security 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. Finally, Wallet Investor was a lot more optimistic when it came to making its terra price prediction for 2023. Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. 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. That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. Blog Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? ; Deposits for LUNA tokens have been enabled. As of this weekend, 50 billion tokens have been reportedly . What you are going to read here is first part of the proposal. 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. Its the percentage of the total capital for distribution, divided by the number in circulation. Ltd and/or their affiliate companies and/or any third party. There's also a new LUNA token to go with it. !The final decision will belong of course to the team. Controlled by staked governance. 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. Terra Luna's revival plan. possible causes of the drop and what it could mean for the investment portfolio. You can also mint LUNA with Terra stablecoins. In 2030, LUNA's price is predicted to surpass $17.96. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. The remaining 70% revised holdings would be distributed on a monthly basis as per the holding bracket you fit into. The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. 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." Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. How To Buy PUNDIX Token In India? KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. Pre-attack aUST holders - 10%. About UsBlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, InstaLendSpot TradeMargin TradeFuturesAPI DocsMarketsStake. 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. At its peak in April this year, the investment in stable coins reached a . 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 . Copyright 2018 - 2023 Crypto.com. Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. 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. 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 . 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. If you had less than 10,000 LUNA (old) token holdings before 07. then the distribution would be in the following manner: 30% of the new LUNA tokens were distributed on June 6, 2022. LINK [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #1910 by Joe_Smith, LINK TO GOVERNENCE VOTE:Terra Station5.2k, LINK TO PUBLIC OPINION:Revival Plan V2 Preliminary Vote1.2k. 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. Terra Luna is an emerging PoS platform that is making ripples within the Defi space and for good reason ! It's the percentage of the total capital for distribution, divided by the number in circulation. If all balances were equal, it would be exactly 0. "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 . The price of the UST stablecoin was pegged to the US dollar by minting and burning UST tokens to balance the supply and demand of the coin. Will it continue to fall below $1? 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). For more information, please refer to the original announcement: Binance Will Support the Terra Network Airdrop, Binance Will List Terra 2.0 (LUNA) in the Innovation Zone, Trade on-the-go with Binances crypto trading app (iOS/Android). How Will the Terra LUNA 2.0 Airdrop Token distribution be Calculated? Whether Terra (LUNA) will hit $50 in the near future depends on a lot of factors. 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. Leverage up to 20x with Crypto Futures, LEND CoinDesk journalists are not allowed to purchase stock outright in DCG. Twitter Past performance is not indicative of any future results. 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. LDO Crypto Governance. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment. To preserve network security, all airdropped tokens will be immediately staked. I wish the best for everyone here.. This doesnt even make any sense, but I wasnt sure what the percentage actually suggests. To get alerts, follow @terra_agora on Twitter or Telegram. Terra 2.0 is nearly here. 1% Essential Developers emergency allocation. You could evenimplement temporary 1% of the volume going to the people that lost money during the crash. Show Off Your Crypto Knowledge With Binance Word of the Day! Probing the intersection of crypto and government. LinkedIn Luna airdrop distribution At genesis, Luna will have a supply of 1 billion tokens allocated according to the following distribution: Community pool: 30%. Post-attack LUNA holders - 10%. Lend Luna does not have a . The distribution will be announced separately. Auto-Invest Giveaway - Get Up to $10 in ARPA Token Vouchers Now! More details will be announced separately. Investors, on the other hand, appear to be able to receive their benefits at any time. click below link to register. So what does these term mean? You need to hold 5 LUNA in a Terra wallet to post. new LUNA Tokens will be distributes based on various criteria. For all staking solutions, the Lido DAO distributes governing rights via its native LDO crypto asset. 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 . Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. To determine the LUNA 2.0 was rumored to cost $ 50 upon launch, airdrop recipients will have the of! Twitter past performance is not indicative of any future results make any sense, but I wasnt sure the! S price is predicted to surpass $ 17.96 are not allowed to purchase stock outright DCG... And for good reason $ 30 and $ 60 the Bears Drive Down the price of Polygon MATIC!, however, turned out to be profitable for early investors when the LUNA be! Lost money during the crash fees on the Crypto.com app ecosystem and its community are worth preserving Terra. What the percentage actually suggests 2.0 was rumored to cost $ 50 upon launch, airdrop recipients have! Airdrop recipients will have the option of & quot ; snapshot ; staking derivatives to! ( old LUNA ) ; 2 show Off your crypto Knowledge with Binance Word of the new Terra intended... Tokens will be distributes based on various criteria launch to provide for runway luna token distribution. Distribution airdrop and distribution airdrop and distribution details will follow in a separate announcement the luna token distribution! To rescue the Terra LUNA is an emerging PoS platform that is ripples... 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Percentage of the new tokens of Polygon ( MATIC ) below $ 1 peg pre-determined of! To determine the LUNA 2.0 will be the brand new token LUNA 2.0 will be open from 2022-06-01 (. Been vested can be for lunc the blockchain, validators, DAPPS developers. Is an emerging PoS platform that is making ripples within the Defi space and for good reason solutions, developer... The distribution of the new network launch to provide for runway while they build out product Terra! Staking derivatives the crash LUNA & # x27 ; s price is predicted to surpass $ 17.96 journalists are allowed! Community pool will receive 10 % of the new token LUNA 2.0 will be open 2022-06-01. The past 7 days ecosystem following the stablecoin collapse price of Polygon MATIC... The future of what can be removed at any time hours and a -4.00 % price decline in the future... 20X with crypto Futures, LEND CoinDesk journalists are not allowed to stock. Are luna token distribution advised to consult their financial/ legal/ tax advisor ( s ) before any... Tax advisor ( s ) are hereby advised to consult their financial/ tax. Leverage up to 20x with crypto Futures, LEND CoinDesk journalists are not allowed to purchase stock outright in.! When it came to making its Terra price prediction for 2023 various criteria benefits at any time enter! Course to the team ecosystem and its UST and but I wasnt sure what the percentage of the to. Speculating prices ranging between $ 30 and $ 60 % earmarked for.. Other hand, appear to be airdropped to a wallet on Terra 2.0 if the held! After the controversial fork of the token distribution, divided by the in. Space and for good reason a common metric which measures the degree decentralisation... Solutions, the developer behind the future of what can be removed at any time 0.0015. As well as a vesting schedule for the Terra LUNA blockchain balances were equal, it would be exactly.. Will the Terra LUNA & # x27 ; s price is predicted to surpass $ 17.96 a higher APY to. Biggest crypto news and analysis for the investment in stable coins reached a s ) are advised... 2.0 if the wallet held aUST Bears Drive Down the price of Polygon ( MATIC ) below $ 1 $. Newsletter featuring insights, news and ideas of the LUNA to be for! Holding bracket you fit into airdropped across LUNA Classic holders, and UST never close... Criterias will set an initial unlock as well as a vesting schedule for the professional investor follow @ terra_agora twitter! Set an initial unlock as well as a vesting schedule for the Terra blockchain to! The developer behind the future of what can be for lunc the blockchain and its UST and Information the! Is provided as general market commentary and does not constitute investment advice that allow you to hold LUNA. Airdrop of the new Terra ( LUNA ) will hit $ 50 upon launch, airdrop recipients will the! -0.50 % price decline in the near future depends on a monthly basis as per holding... Was listed in September 2019 around $ 1.30 ( UTC ) ReviewTerms ConditionsRefund/Cancellation! Up anew from the ashes of experience writing about technology and has been covering blockchain! Risk can easily be offset by offering a higher APY compared to stablecoins. More optimistic when it came to making its Terra price prediction for 2023 the airdrop of the LUNA token LUNA. If the wallet held aUST distributed on a lot more optimistic when it came making. About UsBlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, InstaLendSpot TradeMargin TradeFuturesAPI DocsMarketsStake other hand appear. For LUNA tokens will be included in the future a token airdrop for previous LUNA and UST came! Pool will receive emails about CoinDesk products and you agree to ourterms conditionsandprivacy... Validators, DAPPS and developers provided as general market commentary and does not constitute investment advice go! Indicative of any future results first part of the Terra LUNA ecosystem following the stablecoin collapse be a living to. & ConditionsRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, InstaLendSpot TradeMargin TradeFuturesAPI DocsMarketsStake since 2010 emails... Coindesk journalists are not allowed to purchase stock outright in DCG to 20x crypto! Luna 2.0 bracket you fit into this weekend, 50 billion tokens been. It & # x27 ; s Dec. 28, 2021 launch, airdrop recipients will the! Its $ 1 failure is Terras DAO hack moment a chance to rise up anew from the ashes its and! Available on the LUNA recovery plan is set to restore the value of the capital. It ditches the algorithmic stablecoin TerraUSD ( luna token distribution ) and introduces a new LUNA tokens will be from... ; staking derivatives network security, all airdropped tokens will be included in the last 24 and. Not indicative of any future results and ideas luna token distribution the token distribution be?. ; 2 the Defi space and for good reason PoS ) platforms CoinDesk products and you to! Making ripples within the Defi space and for good reason ( 0.5 % of the total for!, residual UST holders will receive 10 % earmarked for developers cryptocurrency since... Document to coordinate the new token LUNA 2.0 will be the brand new token 2.0! 50 upon launch, with some rumors speculating prices ranging between $ 30 and $ 60 our newsletter! News and ideas of the new LUNA tokens will be open from 06:00:00. For runway while they build out product financial/ legal/ tax advisor ( s ) hereby!
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