Bitcoiva Crypto Exchange Will Support The Terra Network Airdrop

Network

The Luna token (i.e.) LUNA Terra network is now renamed as LUNC Classic . The LUNC supports Terra Airdrop.

Furthermore , Bitcoiva exchange will support LUNC Terra Network Airdrop. The LUNC execute from 7th June onwards.

New LUNA Airdrop:

Above all, We will distribute the new Terra 2.0 token (LUNA) to all eligible users based on project team’s token distribution plan. Accordingly the distribution ratio per account mentioned below:

Detailed Airdrop Rules

CategoryAssets HoldingsSnapshot DateRecovery TypeAssets DistributedDistribution Plan
Pre AttackLUNA (old) 07/05/20221 ≥ 1M LUNA (old) Holding in walletLUNA (new)– distribute 100% of the total amount   Ex : 1000 LUNA(old)  = 1034 .73 LUNA(new)
Post Attack                LUNA (old)                26/05/2022                Retail users                LUNC (new)– distribute 30% of the total amount Ex : 10000000 LUNC = 45.92 LUNA   – From December 2022 onwards, monthly distribution of the remaining 70% of every 6 months for 2 years.   Ex : 10000000 LUNC = 107.155 LUNA
Network
Network

Terra 2.0 (LUNA) Airdrop Details:

Further, We will distribute Terra 2.0 (LUNA) to all eligible LUNC users based on the ratio of:

  1. Pre-Attack 1 LUNA = 1.034735071 LUNA
  2. Post-Attack 1 LUNC = 0.000015307927 LUNA

Risk warning: Cryptocurrency trading is subject to high market risk likely. Please, be cautious while make your trades. Therefore ,Our Exchange is not responsible for your trading losses.

A QUICK RECAP


The algorithmic stablecoin that is based on the Terra ecosystem lost its $1 peg during the first week of May in 2022 on May 9, following a specific enormous dump of UST coins into the market by a whale. The FOMO among the cryptocurrency investors caused them to sell even more UST tokens because there were too many of them available. Within a few days, the token was trading at roughly $0.30, which is a significant 70% below its regular value!

The mechanism is set up such that LUNA tokens are burnt to maintain the price at $1 regardless of the amount of UST tokens that threaten the $1 peg. There were more UST and Terra LUNA tokens available than there were traders to use, as the anonymous whale had sold off a significant portion of the UST tokens. However, due to the intense selling pressure, UST never even came close to reaching its $1 peg.

WHAT FORM WILL THE LUNA 2.0 AIRDROP TAKE?


According to the Terra website, the Terra Network Airdrop will take place as follows:

.Neighborhood pool: 30%

. Staked governance controls

. 10% set aside for developers.

. And Holders of pre-attack LUNA: 35%

. All bonded and unbonded Luna, excluding TFL at the “Pre-attack” snapshot; derivatives used for staking are also included.

. 30% of the Luna tokens were unlocked at inception, and 70% of them were invested over two years with a six-month cliff.

. Moreover, For wallets containing less than 1 million Luna: 1 year cliff; 2 year vesting

.For wallets with more than 1 million Luna: 1 year cliff, then 4 years of vesting

.10% of aUST holdings prior to attack

.Up to 99.7% of all holders are covered by the 500K whale cap, however just 26.72% of AUSTs are.

.30% of the total equity was unlocked upon launch, with the remaining 70% vesting over the following two years with a six-month grace period.

.Holders of LUNA after an attack: 10%

. Additionally ,derivatives for stake included

. 30% were unlocked at genesis, and 70% were vested over the next two years with a six-month cliff.

. UST holders after the attack: 15%

. 30% were unlocked at genesis, and 70% were vested over the next two years with a six-month cliff.

THANK YOU, HAPPY TRADING

Note: Above all, Bitcoiva reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice indeed.

Visit us on: www.bitcoiva.com

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