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Tuesday, February 6, 2024

LUNA2.0 is lastly reside, airdrop underway

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The LUNA revival plan has lastly been realized as the primary block of the brand new LUNA blockchain is underway. LUNA now exists in two varieties, LUNA Traditional (LUNC) and LUNA 2.0 (LUNA).

The TerraUSD stablecoin has not been migrated over to LUNA 2.0, which means that LUNA’s solely goal now’s on-chain governance.

Over 70% of LUNA provide is both locked in staking, group pool, or for future developer allocation. The distribution of latest LUNA tokens is thru a worldwide airdrop to all traders who held LUNA or UST on Could 7 or Could 26, when the 2 snapshots had been taken.

Tokens are being allotted in keeping with the proposal, with the bulk going to each the group pool and pre-attack LUNA holders.

Following the ultimate snapshot on Could 26, the value of UST dropped from simply $0.11 to as little as $0.02. On condition that UST has misplaced its peg to the greenback with no obvious method again, its use case and LUNC are unknown. LUNA 2.0, nevertheless, has been adopted by many of the main protocols within the Terra ecosystem. Due to this fact, there’s a actual hope that LUNA might rebuild its market cap sooner or later.

Some traders could have to attend to obtain their airdrop as centralized exchanges deal with distributing all tokens to particular person customers.

All eyes shall be on how the brand new tokens commerce over the weekend as round 30% of airdropped tokens shall be free to commerce from day one.

Posted In: Terra, ICOs, Tokens


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