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. Ltd. Your weekly wrap of Web3 news and trends. LUNA/BUSD and UST/BUSD spot trading pairs will be suspended and all pending spot orders will be cancelled on 2022-05-26 at 15:00 (UTC). Read more to find out! 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). One Luna holder argued the idea of destroying supply of the cryptocurrency to a similar plan by investors in the Shiba Inu meme coin. Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. Heres what you need to know. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . Easiest way to earn passive income through staking, INSTA 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. . Step 1: Create network and account. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. 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.. Minting $100 . 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. 2 444 655,28 LUNA. Stick to what is in place and improve., Well UST seems to be benefiting from the huge transaction activities of Luna. The burn needs to happen on-chain (EDIT: Safemoon somehow can). 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. Earn attractive annual interest through lending, Easiest way to earn passive income through staking, https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837, 1. Kwon has officially put forth a governance proposal for community members to vote on his idea to ditch the UST stablecoin and create a new blockchain Terra 2.0. at Terra Classic block height of 7,790,000. ; March 2020: Akash will implement Solana's smart contracts for provisioning and settlement on its cloud services. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Can someone please thoroughly explain the percentages of luna 2.0 token distribution? 2. Commit to returning funds if product has not been launched in 1 year. It saw the token closing 2022 at $1.04. 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. The algorithm works in a way where if there is an excess of UST tokens that threatens the $1 peg, LUNA tokens are burned to keep the price at a constant $1 and vice versa. In an official blog post, Terra explained the distribution of Luna tokens to existing users in the following manner. You can also mint LUNA with Terra stablecoins. Details concerning the token distribution . The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. 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 above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words: Community pool will be receiving 30%. Shortly after, it started falling and dumped all the way to around $4 before stabilizing at $6. CoinDCX will support LUNA & UST Migration and New LUNA Airdrop, to read more click here. 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. The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TB54KGT" height="0" width="0" style="display:none;visibility:hidden"></iframe> 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. Polygon (MATIC) has been on a tear lately, but the bears have started to take control and drive the price down. Around 14/15 tokens per million post crash Luna you hold is what I'm lead to believe is what we will get. . 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 . 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 . More details will be announced separately. - 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. Today it reached a high of $1.76, and now sits at $1.73. All rights reserved by Primestack Pte. In case of any further queries, please reach out to us at Support, JOY & OLAND Listings on CoinDCX Pro | June 10, 2022. The closer the curve to the straight line, the less the Gini coefficient. 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. What is Terra 2.0? So using your example it's 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). Twitter "The distribution . Terra (LUNA) is currently ranked in the 12th position on CoinMarketCap in terms of market capitalization, which stands at $13,621,149,804, at the time of writing. The eligibility criteria and distribution details will follow in a separate announcement. Follow. Measures the prevalence of top balances comparing to whole population. The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). You may obtain access to such products and services on the Crypto.com App. 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. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. People using terms like Equity and Debt need to be mindful of SECs reach. As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. The Terra ecosystem and its community are worth preserving. @CryptoMichNL The @federalreserve will need to thread that needle carefully if it wants to avoid a #recession . Token Graph. At Genesis, 30% of the LUNA airdrop will be immediately available to Pre-Attack users with wallets that had less than 10k LUNA (including staking derivatives) or deposited UST in Anchor, and Post-Attack users with any quantity of LUNA (including staking derivatives), UST, or both.. It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. Fastest FIAT On Ramp Off Ramp Product. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from December 2022 onwards. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. Closing thoughts. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from June 2023 onwards. Snapshot is scheduled to begin on 27th May for all holders. 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. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. Reddit and its partners use cookies and similar technologies to provide you with a better experience. . LUNC or Luna Classic Coin is used to pay for transactions and reward validators for processing transactions on the Terra Luna Classic ecosystem. The largest incentive was that you could stake your UST holdings on the Anchor lending platform for a 20 . 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. Not to worry! 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. Emergency allocation (0.5% of total supply): immediately after network launch to provide for runway while they build out product. (and then resubmitting this proposal again in 12 months . By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Liquidity providers (LPs) on Terraswap. 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. 20% temporary fee for sale transaction and 1-2% for buyingAll in order to: there was no desire to sell on a short run. What are Crypto Bridges & Popular Crypto Bridges. This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. 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. 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." 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 . 10% earmarked for developers. Post-attack UST holders - 15%. Instagram 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). Ltd, and/or their affiliate entities and are for informational & educational purposes only. A new Terra blockchain is set to go live on mainet Friday.

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