The airdrop day has arrived for the project, formerly known as Terra Luna and new name Terra Luna Classic. So what is the newly released Lunc coin? What will be the value of Lunc coin after swap transactions? Investors are still pessimistic, although they are waiting for the Lunc coin.
The collapse that Terra has experienced in the past weeks has left its mark on the crypto money markets. According to the latest information, it has been learned that Terra Luna will switch to blockchain. In this context, details about the coin are being investigated with interest. So, what is the Lunc coin? When and where will the Terra Luna Classic Lunc token be traded? Here are those who are curious.
A New Project with Lunc Coin
The latest developments in Terra have affected the cryptocurrency markets. Especially the decline that started in almost all units caused great shock. Now, there is talk about Terra Luna transition to blockchain.
TerraForm Labs founder Do Kwon Lunc said in a statement about the coin, “In its current form, the Terra chain will revert to a new chain without algorithmic stablecoins called “Terra” (token Luna – $LUNA), and the old chain “Terra Classic” (token Luna Classic – $LUNC). “Both chains will be together.” used the phrases.
“The new $LUNA will be airdropped to $LUNC shareholders, holders, remaining UST holders, and core app developers. Additionally, TFL’s wallet will be removed from the airdrop, making Terra a wholly community-owned chain,” Kwon said. used the phrases.
Lunc coin will now appear as the new favorite of Terra Luna lovers. The project will continue for a long time and investors will be instilled with confidence. In addition, the claims that Lunc coin’s price information will be below the estimates are also unfounded at the moment.
WHEN AND WHERE WILL THE TERRA LUNA CLASSIC LUNC TOKEN TRADE?
The Binance team shared that they are working closely with the Terra team for Terra 2.0. The new tokens will be airdropped back to investors. Binance, the world’s largest crypto exchange by trading volume, recently announced that it is working with the Terra team to rescue the ailing network. Earlier today, it was reported that the Terra community has approved the reconfiguration of Terra Blockchain, which will airdrop LUNA 2.0 tokens to affected LUNA investors.
- Trading for the LUNA/BUSD trading pair will be suspended on 26/05/2022 and all pending orders will be cancelled.
- The name of the LUNA (old) token will be changed to LUNC.
- LUNC trading will start again. The start date of the transaction will be shared with another announcement.
- Binance will support the New LUNA Airdrop and details will be shared in another announcement.
Binance will support Terra’s new tokens LUNC and USTC
According to an announcement made by Binance today, legacy Terra ecosystem tokens, including LUNA and UST, will be renamed LUNAClassic (LUNC) and UST Classic (USTC), respectively.
The world’s largest cryptocurrency exchange has announced that, in addition to the renaming of the Terra ecosystem tokens, the project’s new tokens will support the token airdrop to all eligible users and will be distributed according to Terra’s distribution schedule. The development was also announced on Twitter by Wu Blockchain, a popular cryptocurrency media outlet:
BINANCE WILL SUPPORT THE REBRANDING OF THE TERRA NETWORK UNDER THE NAME TERRA CLASSIC AND ITS AIRDROP. BINANCE WILL GIVE TERRA 2.0 (NEW TOKENS) TO ALL SUITABLE USERS ACCORDING TO THE TERRA PROJECT TEAM’S TOKEN DISTRIBUTION PLAN. OLD TOKENS WILL BE RENAMED TO LUNC AND USTC.
On May 30, 2022, LUNC/BUSD and USTC/BUSD will open for spot trading, and deposits and withdrawals of LUNC and USTC tokens will continue.
Binance will distribute the Terra 2.0 LUNA (new tokens) to all eligible users according to the Terra project team’s token distribution plan. The specific distribution rate will be announced separately.
Lock UST (old token) on Blockchain and it will get AnchorUST (aUST) as certificate. Therefore, users participating in the UST (Old Token) locking via the Binance Stake platform will be eligible and included in this airdrop plan.
The pre-attack snapshot includes: spot account, leveraged account, Binance treasury account, betting account and LUNA (former token) in the currency margin contract account, but not the U-margin contract account. Post attack snapshot contains LUNA (old token) and UST (old token) on spot account.
Leveraged accounts, credit accounts, and LUNA (legacy tokens) transferred from these accounts to spot accounts, UST (legacy tokens) will not be covered by the airdrop. Special airdrop distribution details will be announced separately for users participating in the LUNA (legacy token) and UST (legacy token) staking lockdown.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.