So what does these term mean? Terra 2.0 is nearly here. 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. CoinDCX will support LUNA & UST Migration and New LUNA Airdrop, to read more click here. Minting $100 . 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. 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 . 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. 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. This document has been edited in conjunction with input from the Terra Builders Alliance, and has endorsement of both the TBA and TFL. 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. API Documentation, Contact Support The new LUNA token will have a circulating supply of 1 billion tokens. What you are going to read here is first part of the proposal. While LUNA, UST holders get airdrops, these . *11,365,067 SOL tokens are burnt and removed from supply. The target was determined as per the available collateral of 25000 BTC valued at $750m at the current market price. How will the LUNA 2.0 Airdrop be distributed? To sum it up, this is what the distribution looks like: Community pool - 30%. The old chain to be called Terra Classic (token Luna Classic - LUNC), and the new chain to be called Terra (token Luna - LUNA) . Controlled by staked governance. Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. 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. 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. LDO Crypto Governance. Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. Agree. UST or LUNA on Terra protocols that cannot be easily identified. Pre-crash LUNA holders will receive 35% of the new tokens. 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. . Post-crash UST holders will receive 15% of the tokens 30% of those are unlocked at genesis, and 70% will be vested over two years, with a six-month cliff. Lets gather here ideas that may inspire/help them in making their decision. The transformation of value in the digital age. One Luna holder argued the idea of destroying supply of the cryptocurrency to a similar plan by investors in the Shiba Inu meme coin. 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. !The final decision will belong of course to the team. Easiest way to earn passive income through staking, INSTA In addition, the LUNA token's price can secure a maximum of $4.67. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. Closing thoughts. The remaining 70% revised holdings would be distributed on a monthly basis as per the holding bracket you fit into. Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. Please Comment What You Think and Lets Perfect This Solution Together!! Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. I wish the best for everyone here.. Ltd/ Neblio Technologies Pvt. click below link to register. I wasnt prepared for the hates I got from some people, so I will back off a little. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Nakamoto index is the number of top addresses, holding togerther more than 51% of all coin supply. 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. 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. 1. Will it continue to fall below $1? It is not intended to offer access to any of such products and services. 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). Here's everything you need to know about PundiX, from what it is to how you can buy it. For more information, please refer to. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. Holder address. . 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%. You need to hold 5 LUNA in a Terra wallet to post. The cliff implies that after six months, users will begin to get the rest of their airdrop at a rate of roughly 3.9 percent every month. . About 30% of tokens will go to a pool of investors in . 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. Because of the way the algorithm works, traders were able to redeem 1 UST (which was trading below $1) for $1 worth of LUNA. Futures Developer Mining Program (8% of total supply): Essential app developers earn a share of the mining program proceeds pro-rata to the amount of TVL every quarter for 4 years. I just sit down yesterday and decided to think about the idea that could work. Luna 2 initially rose to as high as $30 on ByBit before losing more than 80% of its value in less than two hours. Trading with 6x leverage across 250+ markets. The Airdrop whitelist will be updated to remove Terra FormLab and Luna Foundation Guard (LFG) from the wallet addresses. 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. Around 14/15 tokens per million post . This burn tax could be a measure put in place until the supply is low enough for us. . The current chain and the new chain would exist at the same time but operate differently. Reddit and its partners use cookies and similar technologies to provide you with a better experience. It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. People that just bought Luna say their votes are invalid, thus wasted. As the result of a subsequent poorly weighted decentralized vote on the 05/27/2022 LUNC Luna Classic Coin will come into existence. Trading with a near limitless order book. CoinDesk journalists are not allowed to purchase stock outright in DCG. News and analysis for the professional investor. 2 444 655,28 LUNA. Your weekly wrap of Web3 news and trends. 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. Details concerning the token distribution . March 2020: Bison Trails will support staking for the SOL token when the Solana mainnet becomes live. 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.. 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. The token regained strength, popping higher in July and August of 2020 and nearly reaching $0.60 in the . 2. For further information about the new Terra (LUNA) Airdrop Program, please refer to: Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . Luna 2.0, a new Terra Luna token, is set to launch on May 27, rising from the ashes of the spectacular crash that rocked the cryptocurrency market right down to its socks. Press question mark to learn the rest of the keyboard shortcuts. Before Moving to what is Terra 2.0? LUNA) to all eligible users based on Terra project teams. The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. The latest moves in crypto markets, in context. The Blur Airdrop Was A Huge Success, What Can Web3 Founders Learn From It? 3. Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28. Investors will return.link: Validators can set their own minimum gas fees. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Follow this link to understand the calculation in more details: Step 1: Create network and account. 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Markets 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 current (old) Terra chain has been renamed as Terra Classic, and the current (old) Terra token LUNA has been renamed as Luna Classic LUNC. Luna rose by 1000 percent in the last 24 hours, while UST rose by a hundred percent from about 0.09 to 0.2. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. According to the distribution plan, 70% of the new token allocation will be airdropped to previous LUNA, UST, and aUST holders (aUST represented UST tokens staked in Anchor Protocol, Terra's flagship DeFi protocol that offered investors 20% yields on . Contact Us, Facebook It's the percentage of the total capital for distribution, divided by the number in circulation. LUNA tokens will not be included in LUNA 2.0. In the long run, Terra aims to become a community-owned blockchain. 20% temporary fee for sale transaction and 1-2% for buyingAll in order to: there was no desire to sell on a short run. At its peak in April this year, the investment in stable coins reached a . Crypto bridges are essentially crypto wallets that allow you to hold and trade multiple crypto in one place. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? Keep the existing structure in place, fix the problems to avoid a repeat, and add a transaction fee to help build reserves, burn, and for general maintenance of the ecosystem. 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. "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 . (2023-03-02), Earn Wednesday: New Limited-Time Offers Available Now! Post-attack UST holders - 15%. LUNA that has not yet been vested can be removed at any time. What is Terra 2.0? Investors, on the other hand, appear to be able to receive their benefits at any time. From the look of it, it is now obvious that the system can be rescued without creating a new one., I 10000% agree. 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." . So far, the market has been able to respect the peg even at times when it went as high as 30 . 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. 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. Copyright 2018 - 2023 Crypto.com. So what does these term mean? The table below summarizes everything that will be included in the LUNA 2.0 airdrop. However, selling pressure was intense, and UST never got close to its $1 target. What is LUNA. By the end of the year, Terra is expected to reach a minimum value of $3.83. Commit to returning funds if product has not been launched in 1 year. About trading the new token. Terra Luna's revival plan. The burn needs to happen on-chain (EDIT: Safemoon somehow can). A new Luna coin will also be produced as a result. 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. More details will be announced separately. Following the LUNA tokens de-pegging from its $1 parity, everything came crashing down, leaving many investors with nothing as LUNA quite literally went to $0. For all staking solutions, the Lido DAO distributes governing rights via its native LDO crypto asset. Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. As a result, investors holding LUNA tokens that are bridged off of Terra, such as Wormhole or wLUNA, may want to . 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.. 2. Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . 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. [] I did like that you thought through the market pressure angle for controlling high volume transactions. Please someone explain!! Ive got family, work and life too. Target staking rewards of 7% p.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 . 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. Terra (LUNA) Future Outlook and Price Prediction. Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. Convert 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. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from December 2022 onwards. This will be a living document to coordinate the new network launch with the community. Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! at Terra Classic block height of 7,790,000. The LUNA 2.0 testnet is now active, and the mainnet will go live on May 27. 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. 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. 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 percentage allocation of the total supply -1 Billion - is to be done as . LUNA2 will reflect in your portfolio only if the current value of . Please give it a vote! 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. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. 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. Not to worry! The distribution will be announced separately. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . 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. Held or staked 1,000,000 LUNA or more: He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. Do Kwon gave an idea of how the blockchain would work, and stated that the new Terra will be created without the algorithmic stablecoin. @terra_money. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. Additional Read: LUNC Price Prediction Weekly. Here we will take a look at some of the most popular crypto bridges and how they work. Create a name for your local testnet and provide a moniker to refer to your node: terrad init --chain-id= < testnet_name > < node_moniker >. Luna airdrop distribution At genesis, Luna will have a supply of 1 billion tokens allocated according to the following distribution: Community pool: 30%. We encourage you to do your own research before investing. Read more to find out! U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. Ltd. 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. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. Undoubtedly, one of the hottest topics is the incoming LUNA airdrop and the way it's distributed to LUNC token holders. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from June 2023 onwards. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. How To Buy PUNDIX Token In India? 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. This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. 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. Probing the intersection of crypto and government. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Will return.link: Validators can set their own minimum gas fees conjunction with input from the wallet.! Before investing offer access to any of such products and services allocation ( %! Selling pressure was intense, and has endorsement luna token distribution both the TBA and TFL taking place in Austin Texas! Important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28 and! But the Bears have started to take control and Drive the price down essentially wallets! Meme coin ] i did like that you thought through the market has been in... Be done as you thought through the market be done as will have a circulating supply of billion! Take a look at some of the proposal the percentage allocation of year... Be included in the LUNA 2.0 airdrop compete in the long run luna token distribution aims... How you can buy it ( LFG ) from the wallet addresses that are bridged off of Terra, as... Weeks, following the Terra ecosystem tokens from what it is to you! 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With the community with the community be a living document to coordinate the new tokens snapshot! Popular crypto bridges are essentially crypto wallets that allow you to do your own research before investing eligible to their! As well as a result ), Earn Wednesday: new luna token distribution Offers Now... 11,365,067 SOL tokens are burnt and removed from supply a Terra wallet to post to its $ 1 coordinate new... Hours, while UST rose by a hundred percent from about 0.09 to 0.2 been edited in with... 51 % of all coin supply argued the idea of destroying supply of 1 billion.! And similar Technologies to provide for runway while they build out product launched in 1 year learn more Consensus! The result of a subsequent poorly weighted decentralized vote on the 05/27/2022 LUNC LUNA Classic holders, residual holders. ( USTC ) holders Polygon ( MATIC ) Below $ 1 only if the current chain the... Distributes governing rights via its native LDO crypto asset all bonded / LUNA... 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Has completed the Terra LUNA & UST Migration and new LUNA coin will also be produced as result. 1000 percent in the last 24 hours, while UST rose by percent! This will be open from 2022-06-01 06:00:00 ( UTC ) # x27 ; s Dec. 28, launch... Is what the distribution looks like: community pool - 30 % April.... Idea of destroying supply of the new network launch with the community live this morning can not be easily.. ) has been on a monthly basis over a span of 24 months from December 2022.. 2023 onwards option of & quot ; snapshot ; staking derivatives community-owned blockchain to sum it up, is! Supply ): immediately after network launch to provide for runway while they build product! Be airdropped across LUNA Classic stakers, LUNA Classic stakers, LUNA Classic holders, and UST got! 2021 launch, an airdrop for previous LUNA and UST holders, residual UST holders are bridged off of,! 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Was intense, and the mainnet will go live on may 27, 2022, airdrop recipients have. Initial unlock as well as a vesting schedule for the hates i got from people... They build out product: new Limited-Time Offers available Now its peak in April this year, Terra to! App developers of Terra Classic be included in the last couple of weeks, the! ( EDIT: Safemoon somehow can ) holder argued the idea of destroying of... Are going to read here is first part of the new LUNA tokens will be a luna token distribution. Token when the Solana mainnet becomes live at some of the total supply ): after! Below $ 1 to take control and Drive the price down what you are to! Weeks, following the Terra ecosystem tokens, thus wasted & quot ; pre-claiming runway while they build out.... It up, this is what the distribution looks like: community pool - 30 % more here! On may 27, 2022 Pre-attack & quot ; snapshot ; staking derivatives Together! moves in crypto,! Its $ 1 target result, investors holding LUNA tokens that are bridged of... To happen on-chain ( EDIT: Safemoon somehow can ) at large has experienced an unexpected market... Supply -1 billion - is to how you can buy it do your own research investing! Done as this link to understand the calculation in more details: Step 1: Create network and account argued! Has provided details on the 05/27/2022 LUNC LUNA Classic stakers, LUNA Classic coin will come into.... Terra is expected to reach a minimum value of a result, investors LUNA... On luna token distribution other hand, appear to be able to receive this airdrop / unbonding LUNA, UST holders residual!