Voting Ended at LUNA! Who Will Benefit From Airdrop? When Will Snapshots Be Taken?

Terra founder Do Kwon’s plan to rescue Luna has been accepted by the community.

Now the eyes are on the snapshot for the new net to be released.

As you know, according to the approved recovery plan, a new network called Terra will be established and this network’s new token “LUNA” will be airdropped to old network owners.

Related News: New Rescue Plan from Luna! “The Airdrop Is Coming”

“The Terra blockchain will fork into the new chain without the algorithmic stablecoin. The old chain will be named Terra Classic token LUNA Classic (LUNC), and the new chain will be named Terra token LUNA.

The new Luna will be airdropped to LUNC holders and UST holders.”

While the token supply of the new blockchain is expected to be around 116 million, the details of the airdrop are also revealed.

First of all, the airdrop will be based on a snapshot from the network. The first image was taken on May 7 and will be taken into account in distribution.

The distribution will take place at certain periods so that the price of the newly released token does not immediately dump.

Investors holding more than 10,000 LUNA before the collapse of UST will receive 30% of the tokens they are entitled to initially. The remaining 70% will be distributed to the beneficiaries within two years. Those in this category will start receiving new tokens after 6 months.

Wallets holding more than 1 million LUNA and UST will have to wait 1 year to receive the new tokens they deserve. At the end of this period, tokens will be distributed to them over a 4-year period.

1 to 1 airdrop for LUNAs held before May 7th. However, there will be an airdrop of 0.0000015 to 1 for tokens received after the collapse.

The new snapshot of wallets for Terra 2.0 is 7,790,000. will be taken on the block. Terra developers stated that this is expected to happen on May 26 at 19.20 CEST.

Terra developers stated that Terra 2.0 is not a fork and no data from the existing chain will be migrated to the new one, Terra 2.0 will be a completely new project.

Terra CEO stated that screenshots will be taken within the LUNAs on the exchanges, but there was no support statement from the exchanges on this issue. For this reason, it is stated that investors who want to take advantage of the airdrop should not take risks and keep the LUNAs on the network, not on the exchanges.

The rest of the news is on Bitcoinsistemi.com.

source site-5