How would that be implemented on exchange (CEXs) like binance, kucoin,etc?Answer 1 , Limit UST to LUNA conversion to certain circumstances (only possible when market cap of LUNA > number of UST, limited amount of LUNA minting per time to small percentage of market cap). 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. Like a phoenix the LUNC Luna Classic Coin will rise from the ashes to once again be a power house within the cryptocurrency ecosystem. The transformation of value in the digital age. Liquidity providers (LPs) on Terraswap. *11,365,067 SOL tokens are burnt and removed from supply. Keep the existing structure in place, fix the problems to avoid a repeat, and add a transaction fee to help build reserves, burn, and for general maintenance of the ecosystem. Heres what you need to know. There are 968 unique holders of Luna now on total amount 6 000 000,00 LUNA. A large portion of the token distribution will be allocated to "providing an emergency runway for existing . To understand the calculations behind each segmented distribution, here are the methods: Formula = SUM(MIN(users aUST balance, 500k)) TFL wallets UST Supply, Formula = UST Supply TFL wallets UST Supply, Formula = LUNC Supply TFL wallets LUNC Supply, Formula = aUST allocation / Eligible Pre-attack aUST Supply, Formula = LUNA allocation / Eligible Pre-attack LUNC Supply, Formula = LUNA allocation / Eligible Post-attack LUNC Supply, Formula = LUNA allocation / Eligible Post-attack UST Supply, Pre-attack aUST holders airdrop ratio x User pre-attack eligible aUST holdings, + Pre-attack LUNC holders airdrop ratio x User pre-attack LUNC holding, + Post-attack LUNC holders airdrop ratio x User post-attack LUNC holding, + Post-attack UST holders airdrop ratio x User post-attack UST holding. https://info.coindcx.com/announcement/lisiting-delisting/luna-airdrop-holdings-calculation/. In this case, each LDO token holds the weight of one vote, meaning that voting . The remaining 70% revised holdings would be distributed on a monthly basis as per the holding bracket you fit into. In my personal opinion this suggestion is a good direction. Previously, Terra only burned a portion of the tokens provided, but with the introduction of the Columbus-5 update, 100% is burned. 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. 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. Once market cap of LUNA > market cap of UST, resume on-chain swaps and the system as usual. Community pool will receive 30% of the token distribution, with 10% earmarked for developers. At its peak in April this year, the investment in stable coins reached a . 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. Ltd and/or their affiliate companies and/or any third party. 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. 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. We hope this detailed information will help you estimate your LUNA holdings appropriately. Further mechanics could be put in place to reduce the risk such as reserves, burns, amount of luna that can be minted per x time, etc but under no circumstance should Luna be minted when market cap of luna goes below the market cap of UST. This process limits a bLUNA holders' exposure to the LUNA token, helping to ensure that the value of their staking rewards remains stable. DISCLAIMER:The Information on this website is provided as general market commentary and does not constitute investment advice. 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). . Ltd, and/or their affiliate entities and are for informational & educational purposes only. The following distributions will be unlocked on 20th-25th monthly and won't be announced separately. Please someone explain!! Additional Read: Terra Luna Price Crash Explained. Around 14/15 tokens per million post crash Luna you hold is what I'm lead to believe is what we will get. The biggest crypto news and ideas of the day. Trading with 6x leverage across 250+ markets. 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. 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,. $UST peg failure is Terras DAO hack moment a chance to rise up anew from the ashes. [] I did like that you thought through the market pressure angle for controlling high volume transactions. The lower the price gets, the higher the burning rate of the transaction. The table below is the Terra project teams token distribution plan. Terra's newly minted luna token (LUNA) rallied by 39.41% on Tuesday after the token was listed on cryptocurrency exchange Binance. Terraform Labs took to Twitter to confirm that Terra had started producing blocks on the newly-named Phoenix-1 mainnet. In case of any further queries, please reach out to us at Support, JOY & OLAND Listings on CoinDCX Pro | June 10, 2022. 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)? Markets 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. Binance Accepts LUNC Transaction Fee Loss To Satisfy The Community, Hodlnauts Founder Want To Sell Business To Maximize Value For Creditors, Defi Stablegains Project Sued For Deceiving Investors By Promoting UST As Safe. Terra 2.0 is nearly here. Luna is currently trading on 24 exchanges, with a 24hr trade volume of $46,630,876. Futures 3. Do Kwon gave an idea of how the blockchain would work, and stated that the new Terra will be created without the algorithmic stablecoin. There's also a new LUNA token to go with it. Stick to what is in place and improve., Well UST seems to be benefiting from the huge transaction activities of Luna. Ltd, Neblio Technologies Pvt. The arrangements are as follows: 1. Don't have your own account? This simple solution can avoid the mess (current and future) altogether.When market cap of LUNA becomes less than UST, UST will depeg. The ticker for the UST (old) token will be renamed as USTC. Agree. 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. . This seems like the simplest way out of this.. Your weekly wrap of Web3 news and trends. 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: 3. Pre-depeg LUNA holders airdrop: 35%. 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. Email us: [emailprotected]. You can also mint LUNA with Terra stablecoins. Learn more about Consensus 2023, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. The number of tokens that eligible users may receive in the airdrop will depend on the quantity of LUNC tokens held at a specific time (based on the pre-attack and post-attack snapshot timings). He said that the fees may come down in the future as the network becomes more efficient. As the details around the LUNA2 airdrop are finalized, we will share further information about what steps we will be taking. For all staking solutions, the Lido DAO distributes governing rights via its native LDO crypto asset. This design was meant to destroy the UST and restrict its supply which, in turn, should have boosted its value. Please enter your username or email address to reset your password. The Luna recovery plan is set to restore the value of the Luna token and reward holders and users of the Luna token. 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 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 content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Oliver Knight is a CoinDesk reporter based between London and Lisbon. As per the Terra Luna Foundation (Issuers of LUNA and UST Tokens), you would have received 30% of the revised holdings by now. No lockup. The distribution of tokens to validators is a common metric which measures the degree of decentralisation of many Proof-of-Stake (PoS) platforms. Previously, the Terra Luna community approved a revival plan that involves a Terra Luna hard fork from the failed token, the creation of a new blockchain Terra 2.0 and a new token.. LUNA's crash made headlines back in May, sending shockwaves through the wider cryptocurrency space, with bitcoin and ether crumbling and cryptocurrency trading platform Binance forced . Binance has completed the Terra (LUNA) airdrop distribution to Terra Classic (LUNC) and TerraClassicUSD (USTC) holders. (and then resubmitting this proposal again in 12 months . 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. Why Does Bitcoin Layer 2 Stacks Still Have Outstanding Potential In The Future? 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 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. The target was determined as per the available collateral of 25000 BTC valued at $750m at the current market price. This includes: As mentioned in the blog that Terra CEO, Do Kwon shared, with the interoperability of Terra in mind, this LUNA ecosystem will be the gateway to the wider Cosmos ecosystem and beyond. The distribution will be announced separately. 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. If you had more than 1 Million LUNA (old) token holdings, then the distribution would be in following manner: Please note that the ratio which you can see in the table below is calculated considering multiple variables such as, percentage of distribution and total supply of tokens. TFLs wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6) will be removed in the whitelist for the airdrop, making Terra a fully community owned chain, 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. Withdrawals for LUNA tokens will be open from 2022-06-01 06:00:00 (UTC). 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. If you are looking for the documentation for Terra Classic, visit the Terra Classic docs site. The distribution ratio per account will be announced in a separate announcement. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases that may not be included. 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. The existing LUNA token will be called LUNC, while the new LUNA 2.0 token will be known as LUNA. If you had 10,000 to 1 Million LUNA (old) token holdings before 07. LUNC or Luna Classic Coin was created on the 05/27/2022. Can someone please thoroughly explain the percentages of luna 2.0 token distribution? Press question mark to learn the rest of the keyboard shortcuts. 1% Essential Developers emergency allocation. As per the sources, Terra (LUNA) 2.0 Price started the trade between $17 and $18. They are becoming increasingly popular as more and more people invest in crypto. 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. All rights reserved by Primestack Pte. 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. The percentage allocation of the total supply -1 Billion - is to be done as . @CryptoMichNL The @federalreserve will need to thread that needle carefully if it wants to avoid a #recession . ; Deposits for LUNA tokens have been enabled. ( USTC ) holders 17 and $ 18 UST ( old ) will. 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My personal opinion this suggestion is a good direction we hope this detailed information help... Is provided as general market commentary and does not constitute investment advice any third party governing rights its! Token and reward holders and users of the keyboard shortcuts if you had 10,000 to million! Controlling high volume transactions newly-named Phoenix-1 mainnet be unlocked on 20th-25th monthly and won #... A phoenix the LUNC LUNA Classic Coin was created on the newly-named mainnet! Together all sides of crypto, blockchain and Web3 the documentation for Terra Classic docs.! Details around the LUNA2 airdrop are finalized, we will share further information what! Oliver Knight is a common metric which measures the degree of decentralisation of many (! Stable coins reached a ; s also a new LUNA token to with. Took to Twitter to confirm that Terra had started producing blocks on the 05/27/2022 separate. 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