If something new will be added by the community to the proposal you will find the continuation in@bloodcurdlethread [Proposal] BURN and REMEDY fee with each LUNA transaction [PART II]201message [Proposal] BURN and REMEDY fee with each LUNA transaction [PART I] #2322 by bloodcurdle, Please contnue with both threads to keep views going !, The proposal belongs to everyone here. I believe this is the only way that people will truly see a recovery of LUNA and UST. Following the previous announcement, Crypto.com is pleased to announce that the airdrop of the new Terra 2.0 token (LUNA2) has started and is expected to be completed by 1 Jun 2022 16:00 UTC.. MARGIN However, selling pressure was intense, and UST never got close to its $1 target. LUNA) to all eligible users based on Terra project teams. Below are the airdrop ratios to determine the LUNA to be airdropped to a wallet on Terra 2.0 if the wallet held aUST . For the most uneven distribution, it is 1. Pre Attack in this scenario means any LUNA or UST holders or traders who had these tokens in their crypto wallet before the Terra network fiasco took place. LUNA that has not yet been vested can be removed at any time. 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. Heres what you need to know. Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. There are essential apps that must exist in any web3 ecosystem to be viable: Essential app developers committing to launch on Terra will receive: Essential app developers looking to join for emergency allocation should signal public support for the net network on Twitter and social channels. 70% of the new LUNA tokens will be distributed on a monthly basis over a span of 24 months from June 2023 onwards. The risk can easily be offset by offering a higher APY compared to other stablecoins to compete in the market. There may be no regulatory recourse for any loss from such transactions. We will distribute the new Terra 2.0 token (LUNA) to all eligible users based on Terra project team's token distribution plan. Needless to say, such rapid supply growth in such a short period of time, with no ability to absorb it, resulted in the unavoidable LUNAs price plummeted to $0. Please give it a vote! As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. *11,365,067 SOL tokens are burnt and removed from supply. This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. In this post I will dive into the distribution of Luna tokens delegated to validators. Trade What is PundiX (PUNDIX) Token? To preserve network security, all airdropped tokens will be immediately staked. As soon as the news about the new Terra LUNA 2.0 Airdrop was announced, crypto investors have been anticipating the exchanges that will support this. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? Target staking rewards of 7% p.a. 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. The volatility in UST's price is, therefore, absorbed through the minting and burning of LUNA tokens. . @CryptoMichNL The @federalreserve will need to thread that needle carefully if it wants to avoid a #recession . The latest moves in crypto markets, in context. At the time of writing, luna 2 was trading at $8.18, with a self . 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. 4% Essential developers (1 year cliff, 4 year vesting thereafter, granted after launch traction) 35% All bonded / unbonded Luna, minus TFL at "Pre-attack" snapshot Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions. 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. . Luna 2 initially rose to as high as $30 on ByBit before losing more than 80% of its value in less than two hours. The eligibility criteria and distribution details will follow in a separate announcement. This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. The above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words: Adding onto the airdropped tokens, the wallet of Terraform Labs (TFL) will be removed from the whitelist for the airdrop, as it is intend to make Terra a fully community-owned chain. Certain pre-determined set of criterias will set an initial unlock as well as a vesting schedule for the Terra ecosystem tokens. Kindly note: All corporate actions at CoinDCX would be in sync with the issuers distribution and the same has been followed for the Terra and UST Airdrop. The new LUNA Tokens will be distributes based on various criteria. Investors will return.link: Validators can set their own minimum gas fees. This document has been edited in conjunction with input from the Terra Builders Alliance, and has endorsement of both the TBA and TFL. 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. As Per press time, LUNAs price is trading near $6.09. News and analysis for the professional investor. Follow this link to understand the calculation in more details: Auto-Invest Giveaway - Get Up to $10 in ARPA Token Vouchers Now! ; Deposits for LUNA tokens have been enabled. By signing up, you will receive emails about CoinDesk product updates, events and marketing and you agree to our, Binance's Custody Arm Ceffu Will Apply For Singapore License: Report, BridgeTower Capital to Onramp Lido, Offers Security Token For Avalanches Staking Rewards, First Mover Asia: ConsenSys Chief Cryptoeconomist Sees Little Drama Ahead for Bitcoin, Hosts of Bankless Podcast Raising $35M Crypto Venture Fund: Sources. 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. TerraForm Labs CEO Do Kwon has proposed a Terra Luna hard fork to rebuild the ecosystem. . LDO Crypto Governance. 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. It ditches the algorithmic stablecoin TerraUSD (UST) and introduces a new token LUNA 2.0. 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). Which crypto exchanges will support Terra Network Airdrop? Snapshot is scheduled to begin on 27th May for all holders. 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." * 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. in this scenario means any LUNA or UST holders or traders who had these tokens in their crypto wallet before the Terra network fiasco took place. In the long run, Terra aims to become a community-owned blockchain. The airdrop will start when the mainnet becomes operational. Coinpedia - Trusted Crypto Agency for News, Information, Exchange, PR, Blockchain Events, Crypto Wallet and Else related to Decentralized World. Before Astroport's Dec. 28, 2021 launch, airdrop recipients will have the option of "pre-claiming . Step 1: Create network and account. Eligibility criteria for holders to receive new LUNA tokens in the following manner: For example, if you have 1000 LUNA tokens before the hack, you will receive 1100 new tokens; however, if you purchased LUNA tokens after the hack, you will only receive 0.015 new tokens. Welcome to the official documentation for Terra, a decentralized, open-source blockchain which hosts a vibrant ecosystem of decentralized applications (dApps) and offers cutting-edge developer tools. The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. Luna does not have a . If all balances were equal, it would be exactly 0. Trading with 6x leverage across 250+ markets. 2. The distribution will be announced separately. Join CoinCu Telegram to keep track of news:https://t.me/coincunews, Follow CoinCu Youtube Channel| Follow CoinCu Facebook page, 2021 COINCU Financial Group Inc. The algorithmic stablecoin UST, which is built on top of the Terra protocol and is a driving force behind its entire ecosystem, lost its peg on May 9th. The volume will play on us. First, initialize your genesis file to bootstrap your network. Similar to Pre Attack holders, Post Attack 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. Lets gather here ideas that may inspire/help them in making their decision. The ratio is considered on a Per LUNA/UST basis, hence you simply need to multiply the quantity of old holding balance with the ratio mentioned in order to get the total quantity that you are eligible to receive from this airdrop. Liquidity providers (LPs) on Terraswap. new LUNA Tokens will be distributes based on various criteria. Terra Luna's revival plan. Anything else smells like financial fraud. The largest incentive was that you could stake your UST holdings on the Anchor lending platform for a 20 . All bonded / unbonding Luna, minus TFL at "Pre-attack" snapshot; staking derivatives . 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. 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. Dear KuCoin Users KuCoin has now completed the first airdrop of the new Terra (LUNA) tokens.. U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. We have huge volume that can be taken advantage of. About 30% of tokens will go to a pool of investors in . What you are going to read here is first part of the proposal. Users with bridged UST or LUNA who would like to be included in the Post-Attack snapshot need to bridge back to Terra before the snapshot is taken. Post-attack LUNA holders - 10%. Ltd, Neblio Technologies Pvt. - from June 2023 onward, monthly distribution over 24 months. SPOT He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. LUNA 2.0 was rumored to cost $50 upon launch, with some rumors speculating prices ranging between $30 and $60. 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 . As a result, investors holding LUNA tokens that are bridged off of Terra, such as Wormhole or wLUNA, may want to convert to LUNA tokens before the snapshot. At its peak in April this year, the investment in stable coins reached a . Mech and "Alpha Prestige - Fusionist" NFT Collections, Binance Pool Launches Presale of Cloud Mining Products, Learn & Earn: Receive Free Crypto by Completing Courses & Quizzes! 2: Market Environment Analysis, Do Kwon Surprise Could Boost LUNC, USTC, and LUNA, Binance Burned 11 Billion LUNC To Fulfill Its Promise To Revive Terra Classic. 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 . . You need to hold 5 LUNA in a Terra wallet to post. As the result of a subsequent poorly weighted decentralized vote on the 05/27/2022 LUNC Luna Classic Coin will come into existence. . Why Did the Price of Aptos (APT) Drop by 30% in February? The old chain will be called "token Luna Classic or LUNC" and the new chain will inherit the original branding by being called "Terra LUNA." . Trading with 6x leverage across 250+ markets. Here we will take a look at some of the most popular crypto bridges and how they work. How To Buy LUNA 2.0 Tokens? Nakamoto index is the number of top addresses, holding togerther more than 51% of all coin supply. Terra will then burn the LUNA tokens you supply. FUTURES Ltd and/or their affiliate companies and/or any third party. <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-TB54KGT" height="0" width="0" style="display:none;visibility:hidden"></iframe> Head to consensus.coindesk.com to register and buy your pass now. A total of 1 billion new Luna 2.0 tokens were . 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 . 1.3 Solana's recent news. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. 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)? 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). 2 444 655,28 LUNA. Convert The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. If you had less than 10,000 LUNA (old) token holdings before 07:30 AM (IST) on May 8, 2022, then the distribution would be in the following manner: 2. 3. Qadir Ak is the founder of Coinpedia. 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. 90%, 99%, 99.9% indexes are how many addresses together hold 90%, 99%, 99.9% of total supply respectively. Past performance is not indicative of any future results. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). 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. Additional Read: LUNC Price Prediction Weekly. 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 . I think recovery is going to be a mid term to longer road, than a shorter one, and in some ways the longer road will allow for a healthier return. Create a name for your local testnet and provide a moniker to refer to your node: terrad init --chain-id= < testnet_name > < node_moniker >. 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 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. 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. Ethereum founder Vitalik Buterin recently spoke about the high transaction fees on the Ethereum network. Details are subject to change. This doesnt even make any sense, but I wasnt sure what the percentage actually suggests. 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. (2023-03-02), Earn Wednesday: New Limited-Time Offers Available Now! The Luna token skyrocketed about 135% in less than two months until its peak in April 2022. Terraform Labs has provided details on the LUNA 2.0 airdrop, which will take place on May 27, 2022. Pre-depeg LUNA holders airdrop: 35%. Commit to returning funds if product has not been launched in 1 year. The LUNA 2.0 testnet is now active, and the mainnet will go live on May 27. I just sit down yesterday and decided to think about the idea that could work. The distribution ratio per account will be announced in a separate announcement. Please enter your username or email address to reset your password. A billion new Luna tokens will be airdropped to stakers and developers if approved. 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 above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words: Community pool will be receiving 30%. If you are looking for the documentation for Terra Classic, visit the Terra Classic docs site. Now the rest belongs to the community. What financial advisors need to know about crypto. Amount. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. Will the Bears Drive Down the Price of Polygon (MATIC) Below $1? Allocate a large portion of the token distribution in 1) providing emergency runway for existing Terra dapp developers 2) align interest of devs with the long term success of the ecosystem . The Airdrop whitelist will be updated to remove Terra FormLab and Luna Foundation Guard (LFG) from the wallet addresses. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. This seems like the simplest way out of this.. Gini Coefficient measures the inequality among address balances. As a community-owned network, Terra will have its native staking token, LUNA, airdropped to its community . $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. LUNA2 will be listed for Limit Order trading on CoinSwitch. 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. 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%. 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. 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. This design was meant to destroy the UST and restrict its supply which, in turn, should have boosted its value. Several exchanges supported the airdrop of the new token over the weekend, with KuCoin and ByBit being the first to list it. Terra Powered by LUNA. Fastest FIAT On Ramp Off Ramp Product. 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. Frequently Asked Questions (FAQ) 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 current chain and the new chain would exist at the same time but operate differently. Then, there would be 35%, or 35 million LUNA dropped to people who had held the original coin, with a . For more information, please refer to the original announcement: Binance Will Support the Terra Network Airdrop, Binance Will List Terra 2.0 (LUNA) in the Innovation Zone, Trade on-the-go with Binances crypto trading app (iOS/Android). Whether Terra (LUNA) will hit $50 in the near future depends on a lot of factors. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. While LUNA, UST holders get airdrops, these . New LUNA (LUNA2) Airdrop. Post-crash LUNA holders will receive 10% of the new tokens, including staking derivatives 30% of the tokens will be unlocked at genesis, with the remaining 70% vested over two years, with a six-month cliff. Commit to returning funds if product has not yet been vested can be taken advantage.. Commit to returning funds if product has not been launched in 1 year validators can their. S Dec. 28, 2021 launch, with KuCoin and ByBit being the first to list it if are... 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