- Terra, a cryptocurrency project that shook the crypto market with its collapse, will send 2.5 million LUNA to exchanges for instant sale, these funds are expected to be sold to support projects in Terra 2.0.
A recent proposal offers millions to finance Terra 2.0 projects. LUNA token to sell terragave the green light to .
Development on Terra 2.0 is still ongoing and projects originally on the original Terra Terra 2.0It has been moved to . However, the new chain has faced several issues, starting with the faulty LUNA airdrop following its launch.
As we reported on Koinfinans.com, in order to prevent developers from giving up on the blockchain network, Terra has come up with an intriguing package to fund their venture. This item was also included in the proposal for the creation of Terra 2.0.
offer confirmation
To release funds recently identified to support developers on the new blockchain, the community Offer 446 An offer known as Offer hosted and watched on Terra Station with over 88 percent support accepted.
As a result of this approval, it is now Builder Emergency Allocation (Builder Emergency Allocation) is ready to be published. Also in a recent tweet, LUNCDAO announced that 2.5 million LUNA tokens will be released to support 52 outstanding projects on Terra 2.0. Funds can be sold on exchanges to support the developing team’s spending with immediate effect.
the $LUNA Builder Emergency Allocation multisig just started distributing funds to 52 projects on Terra 2
That’s 5M $LUNAwith 50% unlocked immediately
This means that 2,500,000 $LUNA hitting the market now and may potentially be sold immediately on CEXs to fund team costs
— 🕊️🔥 𝕃𝕌ℕℂ 𝔻𝔸𝕆 🔥🕊️ (@LUNCDAO) June 17, 2022
These 2.5 million LUNAs mentioned are 50 percent of the first 5 million LUNAs that will be allocated for this purpose. According to CMC data at the time of writing LUNA token It is trading at around $2.24, and with this 2.5 million LUNA sale to be made, the financing figure is expected to reach around $5.6 million. Relevant wallets can be tracked here.
What about LUNC?
Meanwhile, the Terra community, especially users holding the crashed LUNC, are expressing their displeasure, claiming that Do Kwon and TFL have left LUNC. This claim doesn’t seem like a misnomer given the team’s efforts to develop Terra 2.0 as opposed to the silent treatment given to UST and LUNC.
Do Kwon took to Twitter a few days ago to debunk the rumors that TFL was leaving LUNC, and promised to communicate more with the community.
As previously reported by KoinFinans, Terra Whistleblower, known for informing the community about Terra events, had warned investors. of Luna Classic (LUNC) The news source says it doesn’t matter how much you get burned, that the cryptocurrency will never reach $0.01 stated.
The news source supporting his claim for several reasons, FatMan said that LUNC’s on-chain volume is exhausted, there is no demand for the token as there is no product to force the chain, and there is no use case to support LUNC, adding that most of the systems and protocols previously associated with it. He mentioned that he moved to the new LUNA in Terra 2.0, saying that it was not possible to reach $ 0.01.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.