. (and then resubmitting this proposal again in 12 months . 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. We encourage you to do your own research before investing. It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. Trading with a near limitless order book. 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 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? We have huge volume that can be taken advantage of. Luna 2 initially rose to as high as $30 on ByBit before losing more than 80% of its value in less than two hours. We will distribute the new Terra 2.0 token (LUNA) to all eligible users based on Terra project team's token distribution plan. 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. 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. March 2020: Bison Trails will support staking for the SOL token when the Solana mainnet becomes live. A new Luna coin will also be produced as a result. 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. Subsequently the LUNA token went into a steady decline that took it eventually to its all-time low of $0.1199 in March 2020. Ltd/ Neblio Technologies Pvt. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . Agree. I wish the best for everyone here.. Several exchanges supported the airdrop of the new token over the weekend, with KuCoin and ByBit being the first to list it. The new LUNA token will have a circulating supply of 1 billion tokens. Pre-attack LUNA holders: 35%. If all balances were equal, it would be exactly 0. Snapshot is scheduled to begin on 27th May for all holders. 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. For more information, please refer to. The table below is the Terra project teams token distribution plan. The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 48 months from June 2023 onwards. 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:. 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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. Terra Luna's revival plan. LUNA/BUSD and UST/BUSD spot trading pairs will be suspended and all pending spot orders will be cancelled on 2022-05-26 at 15:00 (UTC). Why Did the Price of Aptos (APT) Drop by 30% in February? Next, create a Terra account by running the following command: terrad keys add < account_name >. - from June 2023 onward, monthly distribution over 48 months. 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. 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). All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. Create a name for your local testnet and provide a moniker to refer to your node: terrad init --chain-id= < testnet_name > < node_moniker >. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. Reddit. 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). Such a hefty tax will prevent attackers from making any profits and will prevent panic sales pressure. Closing thoughts. So, if the price of LUNA is $50 per coin, the algorithm would require you to burn 2 LUNA to mint 100 UST. 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). CoinDesk journalists are not allowed to purchase stock outright in DCG. 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. LongForecast 's terra crypto price prediction held a bearish view on the future of LUNA. Trading with 6x leverage across 250+ markets. 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. Don't have your own account? Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! 1% Essential Developers emergency allocation. 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.. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. He does not own any crypto. This is by far the best idea Ive come across [] there is absolutely no point in having an ecosystem where you k ill your hero product. 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. The transformation of value in the digital age. 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.. So what does these term mean? . . 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. Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. Investors, on the other hand, appear to be able to receive their benefits at any time. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment. Qadir Ak is the founder of Coinpedia. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions. The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. LUNA2 airdrop. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. Some people compare this tokenomics with Safemoon. 3. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community . It saw the token closing 2022 at $1.04. Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Around 14/15 tokens per million post . 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. Controlled by staked governance. Markets 1,000,000,000 Luna tokens. Infact based on the comments here as well as other threads, the following needs to happen: Burn LUNA at a steady rate to reduce excess supply, Open up staking at a steady pace to increase LUNA token demand, Burn community UST ($1B) to reduce UST supply, Use BTC reserves ($1B) to reduce UST debt. Ltd, Neblio Technologies Pvt. click below link to register. 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. LUNA) to all eligible users based on Terra project teams. The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. People that just bought Luna say their votes are invalid, thus wasted. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. 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. 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. Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. Some will argue what is the point of UST when it cant be stable [] The solution to this downside is to position UST as a junk bond equivalent in other words a riskier debt product. Twitter For more information, please refer to. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. Read more to find out! Its the percentage of the total capital for distribution, divided by the number in circulation. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. A new Terra blockchain is set to go live on mainet Friday. The distribution will be announced separately. DISCLAIMER:The Information on this website is provided as general market commentary and does not constitute investment advice. Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. *11,365,067 SOL tokens are burnt and removed from supply. 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: 3. Instagram Table 1: LUNA Token Distribution Airdrop Calculation Logic LUNA Airdrop Ratios. The distribution ratio per account will be announced in a separate announcement. 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. All rights reserved by Primestack Pte. Regulatory Issues/ Enforcement Authorities. Deposits for LUNA tokens have been enabled. In case of any further queries, please reach out to us at Support here. Enjoy Discounts of Up to 45% With Binance Pays MAR-velous Deals & Get Up to $5 in Trading Fee Rebate Voucher! Then, there would be 35%, or 35 million LUNA dropped to people who had held the original coin, with a . The volume will play on us. The Blur Airdrop Was A Huge Success, What Can Web3 Founders Learn From It? What you are going to read here is first part of the proposal. MARGIN That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. 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. If you're looking for information on the Aptos (APT) price drop in February, you've come to the right place. LUNA2 will reflect in your portfolio only if the current value of . I want to believe Terra Team are seeing the positive side of the whole thing and probably taking advantage of the increase in activity to come up with a more better and substantive plan. Gini Coefficient measures the inequality among address balances. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. 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 . Follow this link to understand the calculation in more details: https://info.coindcx.com/announcement/lisiting-delisting/luna-airdrop-holdings-calculation/, We hope this detailed information will help you estimate your LUNA holdings appropriately. Ltd, and/or their affiliate entities and are for informational & educational purposes only. Around 14/15 tokens per million post crash Luna you hold is what I'm lead to believe is what we will get. Telegram New LUNA (LUNA2) Airdrop. 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. From there the community will rally behind the future of what can be for LUNC the blockchain, validators, DAPPS and developers. Trade 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. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. Please someone explain!! What is PundiX (PUNDIX) Token? - from June 2023 onward, monthly distribution over 24 months. Please enter your username or email address to reset your password. Leverage up to 20x with Crypto Futures, LEND What is Terra 2.0? Under the new proposal, Terra plans to distribute tokens to holders of the old luna soon to be renamed "luna classic" and UST tokens. ; Deposits for LUNA tokens have been enabled. In 2030, LUNA's price is predicted to surpass $17.96. How To Buy PUNDIX Token In India? Pre-Attack Luna Classic (LUNC) (old LUNA): New Terra (LUNA) = 1:1.034735071 In this post I will dive into the distribution of Luna tokens delegated to validators. About 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. A total of 1 billion new Luna 2.0 tokens were . How Will the Terra LUNA 2.0 Airdrop Token distribution be Calculated? 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. 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 Official tweet from Terra stated: https://twitter.com/terra_money/status/1529665416108208128. The Airdrop whitelist will be updated to remove Terra FormLab and Luna Foundation Guard (LFG) from the wallet addresses. 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. The other hand, appear to be profitable for early investors when the Solana mainnet becomes live initial unlock well. Crypto and Web3 taking place in Austin, Texas, April 26-28 LUNA 2.0 will! Tokens Airdrop from December 2022 onward staking derivatives native staking token, LUNA airdropped... That can be for LUNC the blockchain, validators, DAPPS and developers can Web3 Founders Learn it... Is what we will Get, investment or tax advice by the number in circulation be called,... App in certain jurisdictions due to potential or actual regulatory restrictions leverage up to 5... 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Mainnet becomes live around 14/15 tokens per million post crash LUNA you hold is what I 'm to.