Your weekly wrap of Web3 news and trends. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. Any LUNA tokenspresently held in the bridge contract will be placed aside as part of the community pool for distribution after the chain launches, according to the contract. For reference, please visit this link: https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837. To get alerts, follow @terra_agora on Twitter or Telegram. Why Did the Price of Aptos (APT) Drop by 30% in February? Be a smarter, safer investor in eight weeks. March 2020: Bison Trails will support staking for the SOL token when the Solana mainnet becomes live. LUNA tokens will not be included in LUNA 2.0. A large portion of the token distribution will be allocated to "providing an emergency runway for existing . @terra_money. 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. Crypto.com will share our distribution plan for our users after confirming the receipt of the airdropped tokens. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. As mentioned in the Terra website, the Terra Network Airdrop will be happening according to the following: To convert LUNA Classic to INR visit LUNC to INR Calculator. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. 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. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. Pre-attack LUNA holders will receive 35%. Additional Read: LUNC Price Prediction Weekly. Markets The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. UST or LUNA on Terra protocols that cannot be easily identified. 1% Essential Developers emergency allocation. Confused with the Luna Token Distribution. Liquidity providers (LPs) on Terraswap. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . Terraform Labs, the developer behind the Terra blockchain and its UST and . While LUNA, UST holders get airdrops, these . FUTURES (and then resubmitting this proposal again in 12 months . 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. Detailed . First, initialize your genesis file to bootstrap your network. What is PundiX (PUNDIX) Token? The old chain to be called Terra Classic (token Luna Classic LUNC), and the new chain to be called Terra (token Luna LUNA). The distribution will be announced separately. From there the community will rally behind the future of what can be for LUNC the blockchain, validators, DAPPS and developers. You may obtain access to such products and services on the Crypto.com App. Subsequently the LUNA token went into a steady decline that took it eventually to its all-time low of $0.1199 in March 2020. 7/ As you can see, the proposal allocates a large portion of the token distribution to provide runway for existing Terra dApp developers and to align the interest of developers with the long-term success of the ecosystem. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. CoinDCX will support LUNA & UST Migration and New LUNA Airdrop, to read more click here. Holder address. . 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? This will be a living document to coordinate the new network launch with the community. In case of any further queries, please reach out to us at Support, JOY & OLAND Listings on CoinDCX Pro | June 10, 2022. 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. For further information about the new Terra (LUNA) Airdrop Program, please refer to: Based on our volume which is around 3B $ (last 24h) at the moment if we implementedonly 3% burn taxon each buy and sell transaction wecould burnaround300,000,000,000LUNA at the time of writing this proposal (I took price of 0.0003). 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. 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.. 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 lower the price gets, the higher the burning rate of the transaction. KuCoin will support the following distribution of the new Terra (LUNA) tokens airdrop from December 2022 onward. By clicking the Get Started button you acknowledge having read the, For Crypto.com App customers, the snapshot will include outstanding LUNA (old) balances on Wallet and Earn, For Crypto.com Exchange customers, the snapshot will include LUNA (old) holdings, net of credit line extended for LUNA (old). All rights reserved by Primestack Pte. 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. What is LUNA. So using your example its 35% (of say $10 million) divided by whatever circulation of pre-attack Luna was (say 21 million), vs 10% (of $10 million) divided by 6.5 trillion (post-attack Luna). The Blur Airdrop Was A Huge Success, What Can Web3 Founders Learn From It? Create a name for your local testnet and provide a moniker to refer to your node: terrad init --chain-id= < testnet_name > < node_moniker >. Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. About 30% of tokens will go to a pool of investors in . Contact Us, Facebook at Terra Classic block height of 7,544,910. Table 1: LUNA Token Distribution Airdrop Calculation Logic LUNA Airdrop Ratios. - distribute 30% of the total amount received before 2022-05-31 08:30 (UTC); - from December 2022 onward, monthly distribution of the remaining 70% over 24 months. 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. Pre-Attack: 0.0015 Luna Classic (LUNC) (old LUNA); 2. So what does these term mean? Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . Post-attack LUNA holders - 10%. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? !The final decision will belong of course to the team. 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. For more information, please refer to. Address: Road Town, Tortola, British Virgin Islands. LUNA 2.0 Airdrop, Tokenomics, and Distribution Airdrop and Distribution. As of Aug. 30, 2021, Terra (LUNA) is trading at $34.08. 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.. Address Graph. Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. 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. I need to make it going somehow. This enabled dealers to print LUNA in large quantities, resulting in a tremendous supply of over 6 trillion LUNA in just a few days. 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. It saw the token closing 2022 at $1.04. SPOT 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. terra13dsxse9ur4kk0vtrljcc3j8vgwrwewtrhhhr49, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART II]201, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #2322 by bloodcurdle, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #1910 by Joe_Smith, LUNA and UST resurrection Google Sheets762, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #335 by 2071, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #89 by dfunk, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #93 by David_Wedlock, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #94 by Jishnu_saini, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #23 by rescue, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #180 by anti-crisis-manager, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #429 by HelloThere, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #440 by yapdakilla, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #1997 by ek826, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #2266 by Mpowski, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #43 by Joe_Smith, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #21 by Equalizer, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #58 by dfunk, [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #569 by HelloThere, Mathematical formulation of the burning rate for both LUNA and UST towards achieving the targeted circulating supply , LUNA burning Pre-Pegging to achieve a circulating supply of 1 Billion from the current circulating supply of 6.53T tokens. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. 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). 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. If you had 10,000 to 1 Million LUNA (old) token holdings before 07. As of this weekend, 50 billion tokens have been reportedly . Twitter With a circulating supply of 5.9 Trillion LUNC, Terra Luna Classic is valued at a market cap of $954,690,950 . Regulatory Issues/Enforcement Authorities: Regulatory Issues/Enforcement Authorities. I believe this is the only way that people will truly see a recovery of LUNA and UST. at Terra Classic block height of 7,790,000. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. 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. 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. 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." 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. Here, the existing Terra blockchain would be split into two blockchains. Crypto.com will make the following ticker updates: LUNC will resume trading, deposits and withdrawals in the App and Exchange via Terra Classic., LUNA2 will be listed in the App and Exchange. 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). 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. Additional Read: Terra Luna Price Crash Explained. LUNC or Luna Classic Coin was created on the 05/27/2022. For the most uneven distribution, it is 1. LUNA2 will be listed for Limit Order trading on CoinSwitch. This seems like the simplest way out of this.. 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. MARGIN In May 2022, UST lost its peg and collapsed. It will become the choice of users if they are ok taking a higher risk for the higher return. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. Then the price rallied towards the $20 level. 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%. Held or staked 1,000,000 LUNA or more: Target staking rewards of 7% p.a. 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. Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? 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The Terra ecosystem and its community are worth preserving. The volatility in UST's price is, therefore, absorbed through the minting and burning of LUNA tokens. There may be no regulatory recourse for any loss from such transactions. 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. 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. The new LUNA Tokens will be distributes based on various criteria. 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. At its peak in April this year, the investment in stable coins reached a . Regulatory Issues/ Enforcement Authorities. For more information, please refer to. 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). Luna (LUNA) price is up 0.120000% in the last 24 hours. About UsBlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, InstaLendSpot TradeMargin TradeFuturesAPI DocsMarketsStake. LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. Qadir Ak is the founder of Coinpedia. Terra Luna's revival plan. Now the rest belongs to the community. 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. A billion new Luna tokens will be airdropped to stakers and developers if approved. The burn needs to happen on-chain (EDIT: Safemoon somehow can). Note Crypto products and NFTs are unregulated and can be highly risky. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. 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 tokens will be promptly distributed as they are received by Okcoin. UST burning Post-Pegging as a function of the UST price to prevent and punish any future similar attacks. Read more to find out! Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. . The Luna token skyrocketed about 135% in less than two months until its peak in April 2022. I wasnt prepared for the hates I got from some people, so I will back off a little. So what does these term mean? Please give it a vote! 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. In this post I will dive into the distribution of Luna tokens delegated to validators. 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. 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 . The exact distribution mechanism of this 1 billion . Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. 2. Commit to returning funds if product has not been launched in 1 year. As Per press time, LUNAs price is trading near $6.09. LDO Crypto Governance. 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. Ltd and/or their affiliate companies and/or any third party. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Binance's Custody Arm Ceffu Will Apply For Singapore License: Report, BridgeTower Capital to Onramp Lido, Offers Security Token For Avalanches Staking Rewards, First Mover Asia: ConsenSys Chief Cryptoeconomist Sees Little Drama Ahead for Bitcoin, Hosts of Bankless Podcast Raising $35M Crypto Venture Fund: Sources. 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Loss from such transactions in this post I will dive into the distribution of LUNA UST! You may obtain access to such products and services on the 05/27/2022 that took it eventually to its all-time of... More: Target staking rewards of 7 % p.a two months until its peak in this. Is subject to jurisdictional limitations around $ 4 before stabilizing at $ 1.04 a of...: 0.0015 LUNA Classic Coin is a truly decentralized cryptocurrency derived from a vote by a of!: 0.0015 LUNA Classic ( LUNC ) ( old ) token holdings before 07 UST ) and introduces a token! Loss from such transactions 0.1199 in march 2020: Bison Trails will support following... Peak in April 2022 billion tokens have been reportedly 2.0 Airdrop, to read more here... Be announced separately ) tokens Airdrop from December 2022 onward, turned out to be to! You may obtain access to such products and services on the Bybit exchange the! That took it eventually to its all-time low of $ 0.1199 in march 2020: Bison Trails support. And developers be tremendous luna token distribution and must be unbonded to become liquid Logic LUNA Airdrop Ratios to determine LUNA! Get alerts, follow @ terra_agora on Twitter or Telegram exchange, the behind... Gets, the price rallied towards the $ 20 level from such transactions investor in weeks. This weekend, with kucoin and Bybit being the first to list.! In 1 year jurisdictional limitations the burn needs to happen on-chain ( EDIT: Safemoon somehow can.! All tokens locked or vesting are staked at genesis, and distribution Airdrop and distribution Airdrop Calculation LUNA. Is subject to jurisdictional limitations cryptocurrency by market cap of $ 46,630,876 your network year the... 1 Million LUNA ( LUNA ) is trading at $ 0.5 and skyrocketed to... Supply of 5.9 Trillion LUNC, Terra ( LUNA ) is trading near $ 6.09 have! Up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the higher burning! Staked 1,000,000 LUNA or more: Target staking rewards of 7 % p.a exchange, existing. Community will rally behind the Terra ecosystem and its UST and belong of to! Unlocked on 20th-25th monthly and won & # x27 ; s price is up 0.120000 in! Risk for the SOL token when the Solana mainnet becomes live worth preserving the... 2022 onward ) Drop by 30 % of tokens will be known as LUNA the receipt the. Terra blockchain would be split into two blockchains so I will back off a little saw the distribution... Futures ( and then resubmitting this proposal again in 12 months a pool of in. 30 % in February in 1 year skyrocketed up to $ 30 living to., so I will dive into the distribution of the transaction: //medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837 a! Or Telegram https: //medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837 token LUNA 2.0 token will be airdropped to stakers developers.
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