In the last few days, the price value of Terra LUNA dropped almost 99.99% from the highest peak value of $125 to $0.00018. After the huge loss faced by the people, the founder of Terra LUNA presented the idea of releasing a new version of Terra LUNA with the tag of Terra LUNA 2.0.  Terra core code for the new chain has already been released by Terra and Terra LUNA 2.0 will be released on 27 May 2022.

Suncrypto is in complete support of the migration and airdrop of the Terra LUNA. And currently, all the LUNA trading is suspended for the time being and all these ticker changes for the LUNA will be supported by Suncrypto. Once the changes are complete the LUNC (LUNA Classic) trading market will be opened. The date scheduled for starting the LUNC (LUNA Classic) trading from our platform will be 30 May 2022. 

Things that you should know about the LUNA migration

Some changes were made and there is some regulation that you need to know about. 

 

  • According to the governance proposal 1623, the newly created chain will continue the name Terra.
  • LUNA 2.0 is presented as a brand new token that will replace the existing Terra LUNA version, not to mention that the old version will still coexist with a new one. 
  • Terra Classic (token Luna Classic – LUNC) will be the name of the previous chain, and Terra (token LUNA- LUNA) term will be used for the new chain. This new Terra chain will be without the algorithmic stablecoin.
  • LUNA 2.0 will be airdropped at the new Terra chain launch to all the previous Terra holders and the supply is decided to be 1 million. 
  • The airdrop will be seen as:
  1. For the Pre attack LUNA holders, it will be 35%
  2. For the Post attack LUNA holders, it will be 10%
  3. For the pre-attack UST holders, it will be 10%
  4. For the post-attack UST holders, it will be 15%
  5. 30% for the community pool, and 10% for the developers which will be controlled by LUNA stakes.
  • The market swaps will be disabled for the original COSMOS chain and the balances will remain the same.
  • The LUNA will become the Terra classic and all the Terra stablecoins will become Terra Classic stablecoins as in UST, KRT, EUT will becomeUSTC, KRTC, EUTC, etc. The mining token of the new chain will be LUNA.

Once the airdrop tokens are received from our partner exchanges the eligible users will get their tokens. As there is a current token airdrop restriction the time, and token distribution amount might vary. 


To get more updates and information related to this Terra LUNA 2.0 keep in touch with Suncrypto.