3 Things Related to Luna Classic to Terra Luna 2.0
After experiencing LUNA prices continue to decline, Terra CEO Do Kwon released a new version of the Terra blockchain, “Terra 2.0” with the new LUNA token on Saturday, May 28, 2022, 06.00 UTC (13.00 WIB).
Previously, to understand these conditions, you can understand what Luna Classic (LUNC) is.
Luna Classic (LUNC) is the native token of the old Terra Luna network after fork into the new Terra chain. This token comes after the recent collapse of the UST/Luna crypto asset.
Besides that Luna 2.0 was launched so that Luna could rise after the price had dropped significantly, Terra 2.0 or 2.0 are tokens provided with new packaging to be able to revive the Terra Luna ecosystem after the collapse of the UST stable coin.
Furthermore, one of the largest cryptocurrency exchanges in the world, Binance, is seen to be airdropping and listing Terra 2.0 in the Innovation Zone, as quoted on the official Binance website. Airdrop Terra 2.0 (LUNA) will be distributed to all eligible LUNC and/or USTC users based on the ratio:
Pre-Attack 1 UST = 0.01827712143 LUNA
Pre-Attack 1 LUNC = 1.034735071 LUNA
Post Attack 1 USTC = 0.02354800084 LUNA
Post Attack 1 LUNC = 0.000015307927 LUNA
In addition, Binance provided information on Monday that it would launch a perpetual contract with the Luna Classic (LUNC) token so that the price of the token could rise sharply.
This hinted at support for LUNC after the launch of Terra 2.0 when seeing the new LUNA launched last week. LUNC has skyrocketed more than 90% in the last 24 hours and is trading at an average price of $0.000150.
Here are things related to Luna Classic to Terra Luna 2.0
- Support for Terra Luna
Terra LUNA Airdrop has received support from many crypto exchange platforms and service provisions, one of which Binance which is the largest crypto exchange in the world has announced the list of new Luna tokens. In a recent development, Binance futures revealed that they will be launching 1000 LUNC on margin BUSD perpetual contracts with up to 20x leverage. The edition will be released tomorrow, May 31, 2022, at 2:45 p.m. (UTC).
Furthermore, the LUNC token whose price has fallen drastically has experienced a surge of more than 185% in its 24-hour trading volume with a value of 256 million. Meanwhile LUNA Classic still has a total capital of around $990 million. - Binance Starts Airdrop By Listing Terra 2.0
Quoted from its official website, Binance will register Terra 2.0 (Luna) in the Innovation Zone and will open trading for LUNA/USDT and LUNA/BUSD on Tuesday 31 May 2022 at 06:00 (UTC) or 13.00 WIB.
Deposits and withdrawals for Luna will open on 2022–05–31 04:30 (UTC)
Airdrop Terra 2.0 (LUNA) details will be distributed to all eligible LUNC and/or USTC users based on the ratio:
Pre-Attack 1 UST = 0.01827712143 LUNA
Pre-Attack 1 LUNC = 1.034735071 LUNA
Post Attack 1 USTC = 0.02354800084 LUNA
Post Attack 1 LUNC = 0.00001507927 LUNA
Previously the Innovation Zone was a dedicated trading zone where users could trade new tokens which may have increased volatility and incur higher risk than other tokens.
Before being able to trade in the Innovation Zone all users are required to visit the web version of the Innovation Zone trading page to carefully read Binance’s terms of use and fill out a questionnaire as part of the Initial disclaimer.
In addition, Binance advises LUNA owners to understand the risks involved by conducting independent research before making a decision to trade tokens. If unsure of the decision to be made, LUNA owners are advised to refrain from trading. - Development of Luna Classic to Luna 2.0
After the launch of the new Terra on Friday 27 May 2022, Terraform Labs CEO Do Kwon explained that Luna 2.0 is widely supported by many crypto exchanges such as Gate.io, Bitfinec, FTX, Huobi and Bitrue.
The new Terra chain without algorithmic stablecoins and creating a new blockchain linked to the Luna token, we can see the difference with Terra Classic ($LUNC tokens) and the new chain will be called Terra ($Luna tokens).
The Terra 2.0 (LUNA) logo has a different logo with Terra Classic (LUNC), regarding the logo there is a very strong difference considering that Terra 2.0 no longer carries the UST stablecoin which failed miserably, while LUNC retains its old logo with a circle in blue and orange colors.
On the other hand, Terra 2.0 (LUNA) has a thick yellow circle wrapped in flames with a yellow-orange gradient.
