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. Around 14/15 tokens per million post . In 2030, LUNA's price is predicted to surpass $17.96. 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. Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . 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. I just sit down yesterday and decided to think about the idea that could work. There may be no regulatory recourse for any loss from such transactions. 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 . Pre-Attack Luna Classic (LUNC) (old LUNA): New Terra (LUNA) = 1:1.034735071 This seems like the simplest way out of this.. In my personal opinion this suggestion is a good direction. 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 burning rate is a function of the circulating supply as follows. The Terra ecosystem and its community are worth preserving. The volume will play on us. TerraForm Labs CEO Do Kwon has proposed a Terra Luna hard fork to rebuild the ecosystem. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. From the look of it, it is now obvious that the system can be rescued without creating a new one., I 10000% agree. (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. * Users staked UST (old) with Binance Staking would then be staked on-chain, with AnchorUST (aUST) as the yield-bearing token, thus UST (old) Staking users on Binance are also covered by the recovery plan. The ticker for the LUNA (old) token will be renamed as LUNC. 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. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. 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. 4% Essential developers (1 year cliff, 4 year vesting thereafter, granted after launch traction) 35% All bonded / unbonded Luna, minus TFL at "Pre-attack" snapshot 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. Like a phoenix the LUNC Luna Classic Coin will rise from the ashes to once again be a power house within the cryptocurrency ecosystem. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. Crypto.com will share our distribution plan for our users after confirming the receipt of the airdropped tokens. 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). @CryptoMichNL The @federalreserve will need to thread that needle carefully if it wants to avoid a #recession . ; Deposits for LUNA tokens have been enabled. 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. Ive got family, work and life too. How To Buy PUNDIX Token In India? Create an account to follow your favorite communities and start taking part in conversations. Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. LUNC or Luna Classic Coin was created on the 05/27/2022. . 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. 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. 25% Community pool, controlled by staked governance. 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. LUNA2 will reflect in your portfolio only if the current value of . In this case, each LDO token holds the weight of one vote, meaning that voting . About trading the new token. Qadir Ak is the founder of Coinpedia. In May 2022, UST lost its peg and collapsed. I wasnt prepared for the hates I got from some people, so I will back off a little. Trade Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . The distribution ratio per account will be announced in a separate announcement. That turned out to be profitable for early investors when the LUNA token was listed in September 2019 around $1.30. Instagram People using terms like Equity and Debt need to be mindful of SECs reach. Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. 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. Terra Powered by LUNA. Please give it a vote! One Luna holder argued the idea of destroying supply of the cryptocurrency to a similar plan by investors in the Shiba Inu meme coin. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? For the most uneven distribution, it is 1. All rights reserved. Vested LUNA, on the other hand, will be staked in accordance with the aforesaid schedule. 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. 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. 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. 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. Confused with the Luna Token Distribution. Here we will take a look at some of the most popular crypto bridges and how they work. 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." . 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:. You may obtain access to such products and services on the Crypto.com App. In an official blog post, Terra explained the distribution of Luna tokens to existing users in the following manner. at Terra Classic block height of 7,790,000. Post-attack UST holders - 15%. LongForecast 's terra crypto price prediction held a bearish view on the future of LUNA. Head to consensus.coindesk.com to register and buy your pass now. How To Buy LUNA 2.0 Tokens? This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. Frequently Asked Questions (FAQ) . 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. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. As Per press time, LUNAs price is trading near $6.09. Telegram 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. Agree. Deposits for LUNA tokens have been enabled. The new LUNA token will have a circulating supply of 1 billion tokens. Markets Instead of fighting with each other we should implement some measures that could help the ecosystem. Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor. (2023-03-02), Earn Wednesday: New Limited-Time Offers Available Now! 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 . 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. LUNA 2.0 Airdrop, Tokenomics, and Distribution Airdrop and Distribution. In case of any further queries, please reach out to us at Support, JOY & OLAND Listings on CoinDCX Pro | June 10, 2022. New LUNA token distribution time. Ltd/ Neblio Technologies Pvt. Quant Strategist / High Frequency Trading Full Time, Security 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. 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