Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. Due to the excess amount of UST tokens being available the FOMO among the crypto investors led them to sell off even more UST tokens and within a few days, the token was trading around $0.30; that is a solid 70% lower than its usual value! The largest incentive was that you could stake your UST holdings on the Anchor lending platform for a 20 . Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. In the long run, Terra aims to become a community-owned blockchain. If you are looking for the documentation for Terra Classic, visit the Terra Classic docs site. . For the most uneven distribution, it is 1. LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. A billion new Luna tokens will be airdropped to stakers and developers if approved. Create an account to follow your favorite communities and start taking part in conversations. 1% Essential Developers emergency allocation. 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 . The new chain will airdrop LUNA tokens to holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST). On May 28th Finally, the New Terra Blockchain was Live ! Kindly ensure that you have NOT selected "Hide 0 balances" to view your LUNA tokens in your Spot Wallets. In my personal opinion this suggestion is a good direction. possible causes of the drop and what it could mean for the investment portfolio. 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). So, if the price of LUNA is $50 per coin, the algorithm would require you to burn 2 LUNA to mint 100 UST. Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . 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. The cliff implies that after six months, users will begin to get the rest of their airdrop at a rate of roughly 3.9 percent every month. The burning rate is a function of the circulating supply as follows. Thank you!!!! Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. - 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. All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. Several exchanges supported the airdrop of the new token over the weekend, with KuCoin and ByBit being the first to list it. Are you part of the community and like the direction of this proposal? Nakamoto index is the number of top addresses, holding togerther more than 51% of all coin supply. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from December 2022 onwards. Ive got family, work and life too. In June 2022, as described here, we distributed the LUNA airdrop to eligible users based on the information and allocation logic set by Terra. New LUNA (LUNA2) Airdrop. 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. ; March 2020: Chainlink will work with Solana to build a fast oracle system. It launched at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. Under the new proposal, Terra plans to distribute tokens to holders of the old luna soon to be renamed "luna classic" and UST tokens. The LUNA 2.0 testnet is now active, and the mainnet will go live on May 27. Trading with 6x leverage across 250+ markets. Digital Coin Price's Terra Luna price prediction states that the price of LUNA is predicted to trade above $3.92 in 2024. 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). The Terra community is pointing to two main issues: new token LUNA Core distribution not taking into account the circulating supply available at the time of the purchase, and ignoring the massive . The new Terra 2.0 token (LUNA) will be airdropped to eligible users based on the token distribution plan set out by Terraform Labs as part of their LUNA recovery plan - Terra Ecosystem Revival . It saw the token closing 2022 at $1.04. Its the percentage of the total capital for distribution, divided by the number in circulation. 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. 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. The current chain and the new chain would exist at the same time but operate differently. A new Luna coin will also be produced as a result. What is Terra 2.0? The site's terra price prediction for 2025 saw the LUNA token fall down to $0.46 by the end of the year. 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. (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 . Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. How Ethereum's evolution impacts crypto markets. 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 arrangements are as follows: 1. 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. The distribution ratio per account will be announced in a separate announcement. Some will argue what is the point of UST when it cant be stable [] The solution to this downside is to position UST as a junk bond equivalent in other words a riskier debt product. Pre-depeg LUNA holders airdrop: 35%. As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community . 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. The eligibility criteria and distribution details will follow in a separate announcement. Additional Read: Terra Luna Price Crash Explained. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). . Members of those groups who were active on Sept. 9, 2021 at 00:01 UTC (Terra block # 4,451,515) will be eligible to claim their proportional share of 25 million ASTRO tokens as shown in the table below. 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. Crypto.com will share our distribution plan for our users after confirming the receipt of the airdropped tokens. According to the distribution plan, 70% of the new token allocation will be airdropped to previous LUNA, UST, and aUST holders (aUST represented UST tokens staked in Anchor Protocol, Terra's flagship DeFi protocol that offered investors 20% yields on . FUTURES Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. Terra Classic Adopts New Proposal To "Re-Peg USTC With LUNC," USTC Soars 30%, 2022 Crypto Market Recap Pt. It is not intended to offer access to any of such products and services. The transformation of value in the digital age. 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. 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. Blog Email us: [emailprotected]. Post-attack UST holders - 15%. The old chain to be called Terra Classic (token Luna Classic LUNC), and the new chain to be called Terra (token Luna LUNA). Step 1: Create network and account. Show Off Your Crypto Knowledge With Binance Word of the Day! 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. On the Bybit exchange, the price started at $0.5 and skyrocketed up to $30. He has also interviewed a few prominent experts within the cryptocurrency space. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg. The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic . Target staking rewards of 7% p.a. Address Graph. holdes in this case refers to those traders to have bought LUNA or UST during the de-pegging period or have grabbed a few tokens upon the release of the Terra LUNA 2.0 Airdrop news. What is LUNA. As per the sources, Terra (LUNA) 2.0 Price started the trade between $17 and $18. About Details concerning the token distribution . Terra Powered by LUNA. if they are sold, then this is only a plus for burning, since you cannot miss the trading volume that is going on now. 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. By signing up, you will receive emails about CoinDesk products and you agree to ourterms & conditionsandprivacy policy. . 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. Subsequently the LUNA token went into a steady decline that took it eventually to its all-time low of $0.1199 in March 2020. The lower the price gets, the higher the burning rate of the transaction. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 48 months from June 2023 onwards. 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. LUNA) to all eligible users based on Terra project teams. Terra (LUNA) Future Outlook and Price Prediction. After much uncertainty and debate on whether to go for the hard fork or not, the Terra community has finally voted in favor of the proposal. 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. 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). I want to believe Terra Team are seeing the positive side of the whole thing and probably taking advantage of the increase in activity to come up with a more better and substantive plan. 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 Terra community has now voted and accepted a proposal for LUNA 2.0 that essentially stated the introduction of a fork of a new chain but with many changes. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. 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. LUNA2 will reflect in your portfolio only if the current value of . Airdrop rules The burn needs to happen on-chain (EDIT: Safemoon somehow can). * 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. All rights reserved. LUNA, the proof-of-stake coin powering the new Terra blockchain. Alongside the blockchain launch, an airdrop for a new LUNA token went live this morning. The distribution will be announced separately. They are becoming increasingly popular as more and more people invest in crypto. For reference, please visit this link: https://medium.com/terra-money/terra-2-0-luna-airdrop-calculation-logic-3eb752c25837. 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