How the LUNA 2.0 airdrop will be distributed on May 27

Terraform Labs has released accusation regarding the LUNA 2.0 airdrop scheduled for May 27, 2022.

The existent LUNA token volition beryllium renamed LUNC, portion the caller LUNA 2.0 token volition presume the ticker LUNA. Holders of LUNC (Luna Classic), USTC (UST Classic), and aUST (staked UST) volition beryllium airdropped LUNA tokens from the caller chain.

LUNA Airdrop

The testnet is presently unrecorded for LUNA 2.0, and the mainnet volition beryllium activated connected May 27. When the mainnet goes live, the airdrop volition begin. According to a Terraform Labs verified Medium post, you volition beryllium eligible for the airdrop if:

At the Pre-Attack snapshot, hold:

• LUNA (including staking derivatives)
• Less than 500k aUST (UST deposited successful Anchor)

And/or astatine the Post-Attack snapshot, hold:

• LUNA (including staking derivatives)
• UST

The snapshot timings utilized successful the supra criteria are shown below:

Source: Medium

When volition the airdrop happen?

The genesis artifact of LUNA 2.0 volition hap connected May 27, 2022, astatine which clip 30% of the LUNA airdrop volition beryllium issued, with the remaining 70% to beryllium issued implicit 2 years with a six-month cliff. The cliff means users volition commencement to person the remainder of their airdrop aft 6-months astatine astir 3.9% per month.

“At Genesis, 30% of the LUNA airdrop volition beryllium instantly disposable to Pre-Attack users with wallets that had little than 10k LUNA (including staking derivatives) oregon deposited UST successful Anchor, and Post-Attack users with immoderate quantity of LUNA (including staking derivatives), UST, oregon both.”

All airdropped tokens volition beryllium automatically staked to “preserve web security.” Non-vested LUNA tin beryllium removed astatine immoderate point. However, vested LUNA volition beryllium staked according to the supra schedule. However, it does look that investors volition inactive beryllium capable to assertion their rewards astatine immoderate point.

“Users volition gain staking rewards connected their vesting LUNA starting from the constituent astatine which it is staked, and tin assertion these rewards astatine immoderate point.”

Regarding vested LUNA, “if a idiosyncratic would similar liquid LUNA arsenic soon arsenic their cliff hits, they’ll request to undelegate their staked, vested LUNA astatine slightest 21 days earlier the archetypal time of their cliff.” However, accusation successful Table 4 of the Medium posts suggests that bridged LUNA volition beryllium “distributed astatine a aboriginal date.”

LUNA tokens that volition not beryllium included successful LUNA 2.0

Any LUNA presently held successful the span declaration volition beryllium acceptable speech “as portion of the assemblage excavation for organisation aft the concatenation launches.”

Therefore, it whitethorn beryllium prudent for investors who clasp LUNA bridged disconnected of Terra, specified arsenic Wormhole oregon wLUNA, whitethorn privation to person into LUNA tokens earlier the snapshot.

The Medium station outlines the pursuing scenarios wherever the airdrop volition not beryllium available.

UST oregon LUNA bridged disconnected of Terra

• Users with bridged UST oregon LUNA who would similar to beryllium included successful the Post-Attack snapshot request to span backmost to Terra earlier the snapshot is taken.

UST oregon LUNA connected Terra protocols that cannot beryllium easy identified

• All protocols listed connected DeFi Llama here will beryllium covered, successful summation to a fewer others that are known.

UST oregon LUNA connected CW3 multi-sig contracts

• Most UST and LUNA successful CW3 multi-sig contracts volition beryllium accounted for, but determination could beryllium borderline cases that whitethorn not beryllium included.

Supported tokens, exchanges, and chains

The beneath array gives a broad breakdown of what volition beryllium included successful the LUNA 2.0 airdrop. Investors who held LUNA earlier the snapshot oregon clasp done the May 26 snapshot volition person airdrops connected Binance, Huobi, Bybit, Bitrue, Bitfinex, Kraken, FTX, Gate.io, OKX, and Bitget.

Other exchanges whitethorn besides enactment the airdrop but are not presently confirmed by Terraform Labs. For example, Swissborg precocious notified its users that they are moving connected distributing the LUNA 2.0 airdrop to users adjacent though it does not database LUNC.

Swissborg lists UST arsenic a token and volition apt person a LUNA 2.0 airdrop connected behalf of its users. The method complexity of solving this contented is 1 facing galore exchanges astir the world.

Source: Medium