Large Terra (Luna) New LUNA tokens were distributed to investors after the old LUNA chain (now called LUNC) was abandoned on May 26 following its collapse.
“Token Unlocked for Legacy Network (LUNC) Users With Terra (LUNA) in Their Wallet”
As part of the transition to the LUNA ecosystem, new LUNA coins have been airdropped to holders of LUNA, UST (now called USTC), and aUST, based on the two snapshots outlined in the Terra Ecosystem Revitalization Plan.
This airdrop altcoins Some of them are expected to be unlocked on November 24.
As a way to stabilize the entire Terra community, Do Kwon and his team came up with the solution to airdrop their native staking token, LUNA, to all users holding LUNA coins both pre-attack and post-attack.
The amount of LUNA an individual would be eligible to receive was determined by the types of tokens users held on the Terra Classic chain, the length of time they held these tokens (based on Pre-Attack and Post-Attack snapshots), and the number of tokens held.
1/ On November 24th, 2022, based on the Genesis $LUNA airdrop schedules the community voted on in May, vesting $LUNA will begin to vest at 6am UTC ⌛
A quick 🧵👇
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) November 23, 2022
According to Terra’s official Twitter statement, LUNA tokens that are in vesting mode will begin to be deposited into user wallets at 09:00 on November 24, in accordance with the Genesis LUNA airdrop timelines voted on by the community in May of this year.
The developers described the process as follows:
“As all LUNAs airdropped in the Vesting program are staked on Terra’s Genesis, they must be released (“undelegated”) from the platform for 21 days to become liquid.”
Tokens “undelegated” from the platform will remain locked for 21 days.
*Not investment advice.
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