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). LUNA2 will reflect in your portfolio only if the current value of . LUNC or Luna Classic Coin is a truly decentralized cryptocurrency derived from a vote by a community of investors surpassing 4 million members. From what I understand, does this mean if I had 100 luna (bought for $10,000) before the attack, will get less luna token than those who bought millions of luna (bought for $0.00001)? 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. Terraform Labs took to Twitter to confirm that Terra had started producing blocks on the newly-named Phoenix-1 mainnet. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Trade FUTURES 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). Fueled by a passionate community and deep developer talent pool, the Terra blockchain is built to enable the next generation of Web3 products and services. Pre-Attack Luna Classic (LUNC) (old LUNA): New Terra (LUNA) = 1:1.034735071 Reddit. While UST has been the central narrative of Terras growth story over the last year, the distribution of UST has led to the development of one of the strongest developer ecosystems in crypto. New LUNA (LUNA2) Airdrop. All bonded / unbonding Luna, minus TFL at Pre-attack snapshot; staking derivatives included, For wallets with < 1M Luna: 1 year cliff, 2 year vesting thereafter, For wallets with > 1M Luna: 1 year cliff, 4 year vesting thereafter, 500K whale cap covers up to 99.7% of all holders but only 26.72% of aUST, 15% unlocked at genesis; 85% vested over 2 years thereafter with 6 month cliff, Pre-attack snapshot to be taken at at Terra Classic block 7544910 (2022.05.07 23:00:04+08:00), Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00), Chain upgrade to commence in a few hours after the Launch snapshot, Snapshots can change depending on development readiness, Luna eligibility includes Luna, bonded Luna, unbonding Luna, and staking derivatives, TFL (previously maintained mantle, station, finder, Terra Core) to prepare core public infrastructure, wallets, genfile, release binary for the launch, Validators (to volunteer) to declare gentx and coordinate launch shortly after the launch snapshot, Community leaders looking to provide oversight over the essential dev program should form a multisig to oversee the essential dev allocation & act as a steering committee for the new chain, 05/21 Terra Core release is cut, network launch instructions made available for validators, 05/25 Essential app developer registration completed, 05/27 Genesis file created from final launch snapshot. . We have compiled a list of exchanges where you can avail the new LUNA Tokens for you! Closing thoughts. The token regained strength, popping higher in July and August of 2020 and nearly reaching $0.60 in the . 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. New LUNA token distribution time. 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. We have huge volume that can be taken advantage of. Ltd and/or their affiliate companies and/or any third party. Get your step-by-step guide to setting up an account with Crypto.com. This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. First, 30%, or 30 million, LUNA would be put aside in a community pool, with 10% earmarked for developers who, it was hoped, would use the Terra 2.0 blockchain to transfer over decentralised applications (DApps) from the original Terra system. 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 . 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. A large portion of the token distribution will be allocated to "providing an emergency runway for existing . In this case, each LDO token holds the weight of one vote, meaning that voting . Lets gather here ideas that may inspire/help them in making their decision. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. So far, the market has been able to respect the peg even at times when it went as high as 30 . The distribution will be announced separately. Here, the existing Terra blockchain would be split into two blockchains. In case you have any queries, write to[emailprotected]. Terra Classic Adopts New Proposal To "Re-Peg USTC With LUNC," USTC Soars 30%, 2022 Crypto Market Recap Pt. To understand the calculations behind each segmented distribution, here are the methods: SUM(MIN(users aUST balance, 500k)) TFL wallets UST Supply, aUST allocation / Eligible Pre-attack aUST Supply, LUNA allocation / Eligible Pre-attack LUNC Supply, LUNA allocation / Eligible Post-attack LUNC Supply, LUNA allocation / Eligible Post-attack UST Supply. Additional Read: LUNC Price Prediction Weekly. The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. 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 . Ltd. About UsBlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsAML PolicyRefund/Cancellation PolicyRefer OthersListing/Delisting PolicySecurityBug-Bounty, FAQsRaise a Support TicketCoin Listing Request, BlogPoliciesFee StructureCareersYear in ReviewTerms & ConditionsRefund/Cancellation PolicyRefer OthersSecurityBug-Bounty, Intro to Margin TradingIntro to Futures TradingIntro to Staking, Customer Support: [emailprotected]Team: [emailprotected]Press: [emailprotected]Regulatory Issues/ Enforcement Authorities: [emailprotected]FAQsRaise a Support Ticket. Luna 2.0, a new Terra Luna token, is set to launch on May 27, rising from the ashes of the spectacular crash that rocked the cryptocurrency market right down to its socks. The biggest loser of the bunch has been luna, which collapsed from $85 early in the month to a fraction of a penny now. Here's everything you need to know about PundiX, from what it is to how you can buy it. A billion new Luna tokens will be airdropped to stakers and developers if approved. Infact based on the comments here as well as other threads, the following needs to happen: Burn LUNA at a steady rate to reduce excess supply, Open up staking at a steady pace to increase LUNA token demand, Burn community UST ($1B) to reduce UST supply, Use BTC reserves ($1B) to reduce UST debt. Past performance is not indicative of any future results. In May 2022, UST lost its peg and collapsed. The table below summarizes everything that will be included in the LUNA 2.0 airdrop. Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. Binance Will List Liquity (LQTY) in the Innovation Zone, Binance Options System Upgrade Notice (2023-03-01), Notice of Removal of Trading Pairs - 2023-03-02, Binance Futures Will Launch USD-M CKB Perpetual Contracts with Up to 20X Leverage. At the time of writing, luna 2 was trading at $8.18, with a self-reported circulating supply of 210 million, giving it a market capitalization of $1.8 billion, according to, The token was launched on a new blockchain dubbed Terra 2 following the, Investors that held UST or luna before the depeg, as well as those who purchased either asset following the depeg, were, The old luna token, which is trading at $0.0002, has been, The revival plan, although passed by Terras network validators, was pushed live even as results from a preliminary online poll on a, Some 92% of over 6,220 voters on a previously held online poll voted against the change, with the most popular responses calling for no fork,. LUNC or Luna Classic Coin is the cryptocurrency used to power the Terra Luna Blockchain after the controversial fork of the Terra Luna Blockchain. I think having a algorithm in the protocol for mint / burn (for exchanging), as well as selling that responds dynamically to volume (rather than a hard coded value) for the Terra blockchain would help slow down to a reasonable pace those transactions that could create a run and quick loss of confidence, but allow quicker transactions in accordance with the speed the blockchain would allow for for tiny transactions. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. new LUNA Tokens will be distributes based on various criteria. Luna rose by 1000 percent in the last 24 hours, while UST rose by a hundred percent from about 0.09 to 0.2. Meanwhile, just hours after the new tokens introduction, its value plummeted by 60%. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. The price of the UST stablecoin was pegged to the US dollar by minting and burning UST tokens to balance the supply and demand of the coin. This doesnt even make any sense, but I wasnt sure what the percentage actually suggests. LUNA2 airdrop. All rights reserved. All rights reserved by Primestack Pte. By clicking the Get Started button you acknowledge having read the, For Crypto.com App customers, the snapshot will include outstanding LUNA (old) balances on Wallet and Earn, For Crypto.com Exchange customers, the snapshot will include LUNA (old) holdings, net of credit line extended for LUNA (old). Crypto.com will share our distribution plan for our users after confirming the receipt of the airdropped tokens. Frequently Asked Questions (FAQ) 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%. Subject to Crypto.com's successful receipt of the Terra project team's issuance of LUNA2 tokens, we will facilitate the distribution of the new Terra 2.0 token (LUNA2) to all eligible users. So what does these term mean? Pre-crash UST holders will receive 10% of the new tokens. Held or staked 1,000,000 LUNA or more: There's also a new LUNA token to go with it. Heres what you need to know. In an official blog post, Terra explained the distribution of Luna tokens to existing users in the following manner. What is PundiX (PUNDIX) Token? DISCLAIMER:The Information on this website is provided as general market commentary and does not constitute investment advice. The UST stablecoin algorithm created trillions of LUNA tokens, fell into a hyperinflationary spiral, and reduced the value of the original LUNA token by 99%. The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. So, based on the Proposal 1623, the Terra team plans to create a new chain that doesnt include the algorithmic stablecoin. . Subject to Crypto.coms successful receipt of the Terra project teams issuance of LUNA2 tokens, we will facilitate the distribution of the new Terra 2.0 token (LUNA2) to all eligible users. It utilizes a basket of fiat-pegged stablecoins, algorithmically stabilized by its reserve currency LUNA, to facilitate programmable payments and open financial infrastructure development, Press J to jump to the feed. While LUNA, UST holders get airdrops, these . You can also mint LUNA with Terra stablecoins. Luna Holders. A total of 1 billion new Luna 2.0 tokens were . If you had 10,000 to 1 Million LUNA (old) token holdings before 07:30 AM (IST) on May 8, 2022, then the distribution would be in the following manner: 30% of the new LUNA tokens were distributed on June 6, 2022. 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:. at Terra Classic block height of 7,544,910. The new LUNA token will have a circulating supply of 1 billion tokens. Trading with 6x leverage across 250+ markets. Email us: [emailprotected]. Terra will then burn the LUNA tokens you supply. 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. Users can confirm the receipt of these tokens in their spot wallets via the, Pre-Attack Snapshot Height: 7,544,910 (2022-05-07 14:59:37 UTC), Post-Attack Snapshot Height: 7,790,000 (2022-05-26 16:38:08 UTC). Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. Don't have your own account? Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). Pre-attack aUST holders - 10%. Follow this link to understand the calculation in more details: The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. - from June 2023 onward, monthly distribution over 48 months. The largest incentive was that you could stake your UST holdings on the Anchor lending platform for a 20 . You may obtain access to such products and services on the Crypto.com App. Trading, deposits and withdrawals will be enabled at the same time.. Wouldnt that be wonderful? Crash in the LUNA 2.0 tokens were would be split into two blockchains distribution plan for our users after the. August of 2020 and nearly reaching $ 0.60 in the last 24 hours, UST. 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