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How the LUNA 2.0 airdrop will be dispersed on May 27

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Information, consisting of examples, has been launched concerning the LUNA 2.0 airdrop arranged to occurred on May 27, 2022

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Updated: May 26, 2022 at 1: 33 pm

How the LUNA 2.0 airdrop will be distributed on May 27

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Terraform Labs has actually launched info relating to the LUNA 2.0 airdrop set up for May 27, 2022.

The present LUNA token will be relabelled LUNC, while the brand-new LUNA 2.0 token will presume the ticker LUNA. Holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST) will be airdropped LUNA tokens from the brand-new chain.

LUNA Airdrop

The testnet is presently live for LUNA 2.0, and the mainnet will be triggered on May27 When the mainnet goes live, the airdrop will start. According to a Terraform Labs confirmed Medium post, you will be qualified for the airdrop if:

At the Pre-Attack picture, hold:

  • LUNA (consisting of staking derivatives)
  • Less than 500 k aUST (UST transferred in Anchor)

And/or at the Post-Attack photo, hold:

  • LUNA (consisting of staking derivatives)
  • UST

The picture timings utilized in the above requirements are revealed listed below:

luna snapshot times
Source: Medium

When will the airdrop occur?

The genesis block of LUNA 2.0 will take place on May 27, 2022, at which time 30% of the LUNA airdrop will be released, with the staying 70% to be released over 2 years with a six-month cliff. The cliff indicates users will begin to get the rest of their airdrop after 6-months at around 3.9% each month.

” At Genesis, 30% of the LUNA airdrop will be instantly offered to Pre-Attack users with wallets that had less than 10 k LUNA (consisting of staking derivatives) or transferred UST in Anchor, and Post-Attack users with any amount of LUNA (consisting of staking derivatives), UST, or both.”

All airdropped tokens will be instantly staked to “maintain network security.” Non-vested LUNA can be eliminated at any point. Vested LUNA will be staked according to the above schedule. It does appear that financiers will still be able to declare their benefits at any point.

” Users will make staking benefits on their vesting LUNA beginning with the point at which it is staked, and can declare these benefits at any point.”

Regarding vested LUNA, “if a user would like liquid LUNA as quickly as their cliff strikes, they’ll require to undelegate their staked, vested LUNA a minimum of 21 days prior to the very first day of their cliff.” Details in Table 4 of the Medium posts recommends that bridged LUNA will be “dispersed at a later date.”

LUNA tokens that will not be consisted of in LUNA 2.0

Any LUNA presently kept in the bridge agreement will be reserved “as part of the neighborhood swimming pool for circulation after the chain launches.”

Therefore, it might be sensible for financiers who hold LUNA bridged off of Terra, such as Wormhole or wLUNA, might want to transform into LUNA tokens prior to the photo.

The Medium post details the following situations where the airdrop will not be readily available.

UST or LUNA bridged off of Terra

  • Users with bridged UST or LUNA who wish to be consisted of in the Post-Attack picture requirement to bridge back to Terra prior to the picture is taken.

UST or LUNA on Terra procedures that can not be quickly determined

  • All procedures noted on DeFi Llama here will be covered, in addition to a couple of others that are understood.

UST or LUNA on CW3 multi-sig agreements

  • Most UST and LUNA in CW3 multi-sig agreements will be represented, however there might be edge cases that might not be consisted of.

Supported tokens, exchanges, and chains

The listed below table offers a thorough breakdown of what will be consisted of in the LUNA 2.0 airdrop. Financiers who held LUNA prior to the photo or hold through the May 26 photo will get airdrops on Binance, Huobi, Bybit, Bitrue, Bitfinex, Kraken, FTX, Gate.io, OKX, and Bitget.

Other exchanges might likewise support the airdrop however are not presently verified by Terraform Labs. Swissborg just recently alerted its users that they are working on dispersing the LUNA 2.0 airdrop to users even though it does not list LUNC.

Swissborg notes UST as a token and will likely get a LUNA 2.0 airdrop on behalf of its users. The technical intricacy of resolving this concern is one dealing with lots of exchanges around the globe.

luna 2.0 support
Source: Medium

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