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. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. 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. Luna 2 initially rose to as high as $30 on ByBit before losing more than 80% of its value in less than two hours. This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. In my personal opinion this suggestion is a good direction. Lets take a look at the Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. Pre-depeg LUNA holders airdrop: 35%. At Genesis, 30% of the LUNA airdrop will be immediately available to Pre-Attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and Post-Attack users with any quantity of LUNA (including staking derivatives), UST, or both.. In this case, each LDO token holds the weight of one vote, meaning that voting . 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. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. TerraForm Labs CEO Do Kwon has proposed a Terra Luna hard fork to rebuild the ecosystem. We have huge volume that can be taken advantage of. 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. 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)? Details are subject to change. 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. You can also mint LUNA with Terra stablecoins. The ticker for the UST (old) token will be renamed as USTC. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. 1.3 Solana's recent news. For further information about the new Terra (LUNA) Airdrop Program, please refer to: Here all 3% would be BURNED lowering the supply. 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. LinkedIn 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). He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. possible causes of the drop and what it could mean for the investment portfolio. A billion new Luna tokens will be airdropped to stakers and developers if approved. Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. As the result of a subsequent poorly weighted decentralized vote on the 05/27/2022 LUNC Luna Classic Coin will come into existence. Commit to returning funds if product has not been launched in 1 year. Binance Staking will make a further announcement with more details relating to the airdrop for users with LUNA (old) and UST (old) in their Locked Staking accounts. You need to hold 5 LUNA in a Terra wallet to post. LUNA2 is the native token used for governance of the network. Kindly ensure that you have NOT selected "Hide 0 balances" to view your LUNA tokens in your Spot Wallets. Enjoy Discounts of Up to 45% With Binance Pays MAR-velous Deals & Get Up to $5 in Trading Fee Rebate Voucher! 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. Looking to buy PundiX (PUNDIX) token in India? Subject to Crypto.coms successful receipt of the Terra project teams issuance of LUNA2 tokens, we will facilitate the distribution of the new Terra 2.0 token (LUNA2) to all eligible users. . (and then resubmitting this proposal again in 12 months . 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. Lets gather here ideas that may inspire/help them in making their decision. So what does these term mean? Ltd. 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. The table below is the Terra project teams token distribution plan. Referral Program, Margin holdes in this case refers to those traders to have bought LUNA or UST during the de-pegging period or have grabbed a few tokens upon the release of the Terra LUNA 2.0 Airdrop news. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. Investors, on the other hand, appear to be able to receive their benefits at any time. 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. The Blur Airdrop Was A Huge Success, What Can Web3 Founders Learn From It? . Like a phoenix the LUNC Luna Classic Coin will rise from the ashes to once again be a power house within the cryptocurrency 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. 10% earmarked for developers. 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. Wouldnt that be wonderful? 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. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Similar to Pre Attack holders, Post Attack holdes in this case refers to those traders to have bought LUNA or UST during the de-pegging period or have grabbed a few tokens upon the release of the Terra LUNA 2.0 Airdrop news. The lower the price gets, the higher the burning rate of the transaction. 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. 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 . 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Careers All rights reserved by Primestack Pte. This burn tax could be a measure put in place until the supply is low enough for us. Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. The distribution ratio per account will be announced in a separate announcement. 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. This seems like the simplest way out of this.. 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. Youll be eligible for the airdrop, according to a Terraform LabsMedium blog post, if you: And/or at the Post-Attack snapshot, hold: The snapshot timings used in the above criteria are shown below: The LUNA 2.0 genesis block will take place on May 27, 2022, at which point 30% of the LUNA airdrop will be distributed, with the remaining 70% distributed over two years with a six-month cliff. Note Crypto products and NFTs are unregulated and can be highly risky. Can someone please thoroughly explain the percentages of luna 2.0 token distribution? First, initialize your genesis file to bootstrap your network. For more information, please refer to. 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. if they are sold, then this is only a plus for burning, since you cannot miss the trading volume that is going on now. 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? new LUNA Tokens will be distributes based on various criteria. Blog People using terms like Equity and Debt need to be mindful of SECs reach. New LUNA (LUNA2) Airdrop. LUNA 2.0 was rumored to cost $50 upon launch, with some rumors speculating prices ranging between $30 and $60. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. *11,365,067 SOL tokens are burnt and removed from supply. Get your step-by-step guide to setting up an account with Crypto.com. 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. Fastest FIAT On Ramp Off Ramp Product. The new LUNA tokens will be promptly distributed as they are received by Okcoin. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. Reddit. The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. How To Buy LUNA 2.0 Tokens? What is Terra 2.0? 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.. Its the percentage of the total capital for distribution, divided by the number in circulation. To preserve network security, all airdropped tokens will be immediately staked. 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. New LUNA token distribution time. To sum it up, this is what the distribution looks like: Community pool - 30%. Luna rose by 1000 percent in the last 24 hours, while UST rose by a hundred percent from about 0.09 to 0.2. Because of the way the algorithm works, traders were able to redeem 1 UST (which was trading below $1) for $1 worth of LUNA. 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. People that just bought Luna say their votes are invalid, thus wasted. All rights reserved by Primestack Pte. Terra Powered by LUNA. . About 30% of tokens will go to a pool of investors in . Press question mark to learn the rest of the keyboard shortcuts. Telegram There will be another announcement when the distribution is complete. Next, create a Terra account by running the following command: terrad keys add < account_name >. Insta Token Distribution. Then the price rallied towards the $20 level. So what does these term mean? The exact distribution mechanism of this 1 billion . 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. LUNC or Luna Classic Coin was created on the 05/27/2022. The new LUNA Tokens will be distributes based on various criteria. 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. Trading with a near limitless order book. 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. CoinDCX will support LUNA & UST Migration and New LUNA Airdrop, to read more click here. The current chain and the new chain would exist at the same time but operate differently. About . Reddit and its partners use cookies and similar technologies to provide you with a better experience. LUNA) to all eligible users based on Terra project teams. One Luna holder argued the idea of destroying supply of the cryptocurrency to a similar plan by investors in the Shiba Inu meme coin. Here we will take a look at some of the most popular crypto bridges and how they work. LUNA 2.0 Airdrop, Tokenomics, and Distribution Airdrop and Distribution. The new LUNA token will have a circulating supply of 1 billion tokens. This will be a living document to coordinate the new network launch with the community. Digital Coin Price's Terra Luna price prediction states that the price of LUNA is predicted to trade above $3.92 in 2024. 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. Pre-attack LUNA holders: 35%. 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. Finally, Wallet Investor was a lot more optimistic when it came to making its terra price prediction for 2023. In an official blog post, Terra explained the distribution of Luna tokens to existing users in the following manner. LUNA2 will reflect in your portfolio only if the current value of . 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. 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. 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. That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. Head to consensus.coindesk.com to register and buy your pass now. Terraform Labs, the developer behind the Terra blockchain and its UST and . 1. Due to the excess amount of UST tokens being available the FOMO among the crypto investors led them to sell off even more UST tokens and within a few days, the token was trading around $0.30; that is a solid 70% lower than its usual value! As soon as the news about the new Terra LUNA 2.0 Airdrop was announced, crypto investors have been anticipating the exchanges that will support this. A billion new Luna tokens will be airdropped to stakers and developers if approved. API Documentation, Contact Support Be a smarter, safer investor in eight weeks. From there the community will rally behind the future of what can be for LUNC the blockchain, validators, DAPPS and developers. click below link to register. Do Kwon gave an idea of how the blockchain would work, and stated that the new Terra will be created without the algorithmic stablecoin. Some people compare this tokenomics with Safemoon. Follow this link to understand the calculation in more details: Binance Will List Liquity (LQTY) in the Innovation Zone, Binance Options System Upgrade Notice (2023-03-01), Notice of Removal of Trading Pairs - 2023-03-02, Binance Futures Will Launch USD-M CKB Perpetual Contracts with Up to 20X Leverage. There's also a new LUNA token to go with it. 0xb09d6f2004912a1. Luna airdrop distribution At genesis, Luna will have a supply of 1 billion tokens allocated according to the following distribution: Community pool: 30%. 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. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. Copyright 2018 - 2023 Crypto.com. Not to worry! In the long run, Terra aims to become a community-owned blockchain. The arrangements are as follows: 1. The target was determined as per the available collateral of 25000 BTC valued at $750m at the current market price. Create an account to follow your favorite communities and start taking part in conversations. Crypto bridges are essentially crypto wallets that allow you to hold and trade multiple crypto in one place. 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. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. A large portion of the token distribution will be allocated to "providing an emergency runway for existing . . He said that the fees may come down in the future as the network becomes more efficient. The old chain to be called Terra Classic (token Luna Classic LUNC), and the new chain to be called Terra (token Luna LUNA). Here, the existing Terra blockchain would be split into two blockchains. Under the new proposal, Terra plans to distribute tokens to holders of the old luna soon to be renamed "luna classic" and UST tokens. Table 1: LUNA Token Distribution Airdrop Calculation Logic LUNA Airdrop Ratios. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. 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. Please Comment What You Think and Lets Perfect This Solution Together!! The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA) . 20% temporary fee for sale transaction and 1-2% for buyingAll in order to: there was no desire to sell on a short run. LUNA, the proof-of-stake coin powering the new Terra blockchain. 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.. 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. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. Time of trading resumption will be shared later as more information becomes available. Follow. 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. Today it reached a high of $1.76, and now sits at $1.73. Dear KuCoin Users KuCoin has now completed the first airdrop of the new Terra (LUNA) tokens.. (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. I wish the best for everyone here.. Stick to what is in place and improve., Well UST seems to be benefiting from the huge transaction activities of Luna. Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. I wasnt prepared for the hates I got from some people, so I will back off a little. Oliver Knight is a CoinDesk reporter based between London and Lisbon. 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. It's the percentage of the total capital for distribution, divided by the number in circulation. Terra Luna's revival plan.
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