Tokenize Exchange is Supporting Terra 2.0 — LUNA Airdrop
According to Terra’s official plan, Terra conducted Version 2 of the Revival Plan on May 16th. During this migration LUNA will be formally renamed to LUNC (Luna Classic) and UST to USTC. The balances of LUNC and USTC will be equal to those of LUNA and UST respectively before the migration.
The Terra 2.0 — LUNA Airdrop will occur at 4PM SGT , Friday 24th June 2022.
Users who have UST and LUNA balances on Tokenize Xchange during the snapshot time will be eligible to receive the new LUNA airdrop, subject to certain adjustments. Details including timing, implementation and amount will be announced separately.
- The Terra team will be launching a new chain, Terra 2.0
- Your Terra address will remain the same on both chains, except on LUNA Classic your LUNA will now be LUNC
- And on the new LUNA 2.0 chain you’re going to be airdropped LUNA 2.0 tokens based on what you held in your wallet “pre-attack” and “post-attack”
- Pre-Attack — means if you held LUNA or UST just before the depeg occurred on May 7th.
- Post-Attack — means if you hold LUNA or UST at block 7,790,000.
So here’s the breakdown of how the LUNA 2.0 tokens will be issued to people who held LUNA and UST Pre-Attack:
- 30% — of the tokens will go to a community pool to fund future development and whatever else we vote to spend it on.
- 35% — will go to Pre-Attack LUNA holders, but there’s a vesting schedule, meaning you won’t get it all right away.
- If you had less than 10k LUNA at the time of the attack, 30% of your LUNA 2.0 tokens will be immediately liquid and the rest will vest over 2 years with a 6 month cliff.
- A 6 month cliff means you won’t get any of your remaining 70% for 6 months, but after 6 months you can claim 6 months all at once and then the rest will trickle in over the next 1.5 years little by little every block. If you had more than 10k LUNA there’s a 1 year cliff.
- 10% — will go to Pre-Attack aUST holders with a 500K “whale cap”.
- This means that if you had less than 500k UST in Anchor, you’ll get your proportional amount of the 10%
- If you had 500k UST or more in Anchor, you’ll get the maximum capped amount.
- Regardless of how much you had, only 30% of your LUNA 2.0 tokens will be liquid at launch and the rest will vest over 2 years with a 6 month cliff.
Now for Post-Attack — this is for people still holding LUNA and UST at the time Luna 2.0 launches:
- 10% — will go to Post-Attack LUNA holders.
- 15% — will go to Post-Attack UST holders.
- For both of these, you’ll have 30% liquid immediately with the remaining 70% vested over 2 years with a 6 month cliff.
The airdrop ratios based on Terra team’s guidelines:
- Pre-Attack: 1 LUNC = 1.034735071 LUNA2
- Post-Attack: 1 LUNC = 0.000015307927 LUNA2
Qualified users will only receive the LUNA airdrop when the total qualifying airdrop amount is more than 1 LUNA.
- For Tokenize Xchange customers, the snapshot will include outstanding LUNA (old) balances in Wallet.
- The snapshot will not include outstanding LUNA (old) balances in Crypto Earn.
- Tokenize Xchange reserves the right to cancel or amend the airdrop rules at our sole discretion and shall not be liable should there be any changes made on the distribution plan governed by the Terra Network in relation to the airdrop.
- Trading digital assets confers high risk due to large price fluctuations. Before trading, please ensure that you have a full understanding of all the risks associated with investing in digital assets. It is your responsibility to understand the implications of the LUNA and UST migration and new LUNA airdrop. Tokenize Xchange is not liable for any losses.
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