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Terra Luna Airdrop 2.0
Index
Terra Luna Airdrop, the old chain will carry the name Terra Classic, with the token changing to Luna Classic (LUNC), and they named the new chain Terra, with LUNA tokens sent to the wallets of those affected by the incident.
The final version of the new Terra Core was released in preparation for the launch of the new chain on May 27. The code also successfully passed an audit by SCV Security. Importantly, LUNA will be flown to stakers and holders of the old LUNA token, residual UST holders, and essential Terra Classic app developers.
Full details on token distribution can be found in the proposed governance.
Terra Luna Airdrop 2.0
Interestingly, the community pool will receive 30 percent of the new LUNA tokens in an effort to initiate and continue the further development of dapp on the network. This should also increase the number of user wallets and the volume of exchanges through LUNA.
Terra states that holders should be aware that, due to technical constraints, it is not possible to include all UST and LUNA holdings on Terra and other chains in the snapshots mentioned. The following is a list of activities that may not be included:
- UST or LUNA bridged off Terra
- Users with bridged UST or LUNA who wish to be included in the post-attack snapshot must return to Terra before the snapshot is taken
- UST or LUNA on Terra protocols that cannot be easily identified.
- All protocols listed on DeFi Llama here will be covered and some others known
- UST or LUNA on CW3 multi-sig contracts.
- Most UST and LUNA on CW3 multi-sig contracts will be covered, but there may be borderline cases.
Terra Luna Price
Many people were hurt financially when Terra UST and LUNA unraveled in recent weeks. This airdrop is the resurrection of Terra, while doing much to compensate UST or LUNA holders, will not see them whole or even closed. It is critical to understand what will happen when the new LUNA token arrives and what airdrop recipients should expect from the asset in the near term. First, the total supply of new LUNAs is 1 billion.
When eligible wallets receive their tokens, they will already be staked, with holders applying to cancel them, which takes 21 days. Specifically, for the first 21 days, the only liquid LUNA on the market will be the 300 million from the developers’ allocation. For pre-attack LUNA, only addresses that had less than 10,000 LUNAs will get genesis unlocking. This means that only 6.45 percent of pre-attack LUNA is eligible for unlocking.
Simply put, Terra 2.0 will be 100% built, owned and used by the community for the first year. If the whales decided to unload LUNA after one year, they would only sell it at a low rate to the community and those who believe in 2.0
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