The Luna token (i.e.) LUNA Terra network is now renamed as LUNC Classic . The LUNC supports Terra Airdrop.
Furthermore , Bitcoiva crypto exchange India 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
| Category | Assets Holdings | Snapshot Date | Recovery Type | Assets Distributed | Distribution Plan |
| Pre Attack | LUNA (old) | 07/05/2022 | 1 ≥ 1M LUNA (old) Holding in wallet | LUNA (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 |
Terra 2.0 (LUNA) Airdrop Details:
Further, We will distribute Terra 2.0 (LUNA) to all eligible LUNC users based on the ratio of:
- Pre-Attack 1 LUNA = 1.034735071 LUNA
- Post-Attack 1 LUNC = 0.000015307927 LUNA
Risk warning: Cryptocurrency trading in India is subject to high market risk likely. Please, be cautious while making your trades. Therefore, Our cryptocurrency exchange India 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 cryptocurrency 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 the 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 reason without prior notice indeed.
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