Crypto News Global, Cryptocurrency

Terra LUNA 2.0 Airdrop Explained | ‘New LUNA Token’ Launch

LUNA 2.0

The crypto community at large has experienced an unexpected crypto market crash in the last couple of weeks, following the Terra LUNA fiasco. Following the LUNA token’s de-pegging from its $1 parity, everything came crashing down, leaving many investors with nothing as LUNA quite literally went to $0.

The Terra community has now voted and accepted a proposal for LUNA 2.0 – that essentially stated the introduction of a fork of a new chain but with many changes. The Official tweet from Terra stated: 

A Quick Round-Up

During the first week of May, on May 9, 2022, after a certain huge dump of the UST coins into the market by a whale, the algorithmic stablecoin that is built on top of the Terra ecosystem, lost its $1 peg. Due to the excess amount of UST tokens being available the FOMO among the crypto investors led them to sell off even more UST tokens and within a few days, the token was trading around $0.30; that is a solid 70% lower than its usual value!

The algorithm works in a way where if there is an excess of UST tokens that threatens the $1 peg, LUNA tokens are burned to keep the price at a constant $1 and vice versa. Now since the anonymous whale sold off a huge chunk of the UST tokens, there were more UST and Terra LUNA tokens in supply than there were traders to consume such a volume. The selling pressure, however, turned out to be tremendous, and UST never came close to its $1 peg.

Additional Read: Terra Luna Price Crash Explained

Which crypto exchanges will support Terra Network Airdrop? 

As soon as the news about the new Terra LUNA 2.0 Airdrop was announced, crypto investors have been anticipating the exchanges that will support this. Not to worry! We have compiled a list of exchanges where you can avail the new LUNA Tokens for you!

  • Binance
  • CoinDCX
  • Huobi
  • Kucoin
  • Bitrue
  • FTX
  • Bitfinex
  • GateIO
  • Bybit

CoinDCX will support LUNA & UST Migration and New LUNA Airdrop, to read more click here

How will the LUNA 2.0 Airdrop be distributed? 

As mentioned in the Terra website, the Terra Network Airdrop will be happening according to the following:

  • Community pool: 30%
    • Controlled by staked governance
    • 10% earmarked for developers
  • Pre-attack LUNA holders: 35%
    • All bonded / unbonding Luna, minus TFL at “Pre-attack” snapshot; staking derivatives included
    • For wallets with < 10k Luna: 30% unlocked at genesis; 70% vested over 2 years with 6mnth cliff
    • For wallets with < 1M Luna: 1 year cliff, 2 year vesting thereafter
    • For wallets with > 1M Luna: 1 year cliff, 4 year vesting thereafter
  • Pre-attack aUST holders: 10%
    • 500K whale cap – covers up to 99.7% of all holders but only 26.72% of aUST
    • 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff
  • Post-attack LUNA holders: 10%
    • Staking derivatives included
    • 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff
  • Post-attack UST holders: 15%
    • 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff

Source: Terra

To convert LUNA Classic to INR visit – LUNC to INR Calculator

One of the most happening topics within the crypto ecosystem is circling the LUNA 2.0 token airdrop and the way it is going to be distributed to LUNC token holders. The above mentioned pointers are as Terra has mentioned in their blog, to sum it up in simple words:

  • Community pool will be receiving 30%
  • Pre-attack LUNA holders will receive 35%
  • Pre-attack aUST holders will be receiving 10%
  • Post-attack LUNA holders will get 10%
  • Post-attack UST holders will be receiving 15%.

Adding onto the airdropped tokens, the wallet of Terraform Labs (TFL) will be removed from the whitelist for the airdrop, as it is intend to make “Terra a fully community-owned chain.” Certain pre-determined set of criterias will set an initial unlock as well as a vesting schedule for the Terra ecosystem tokens.

Additional Read: LUNC Price Prediction Weekly

What is Pre Attack? 

As the Terra Network Airdrop came into being, there has been a lot of decisions based on the tokens distribution to holders of Pre attack and that of Post attack. So what does these term mean? Pre Attack in this scenario means any LUNA or UST holders or traders who had these tokens in their crypto wallet before the Terra network fiasco took place. 

What is Post Attack? 

Similar to Pre Attack holders, Post Attack holdes in this case refers to those traders to have bought LUNA or UST during the de-pegging period or have grabbed a few tokens upon the release of the Terra LUNA 2.0 Airdrop news. 

What is Terra 2.0?

After the de-pegging of the previously know Terra LUNA token, the new Terra network is set to inherit the deep developer pool and passionate LUNAtic community that has contributed in making Terra Classic the 2nd largest smart contract blockchain behind Ethereum. Not only are the community members migrating to the new chain, most of the popular Terra Classic projects will also be joining them in this transition. This includes:

  • Astroport
  • Prism
  • RandomEarth
  • Spectrum
  • Nebula
  • and many others

As mentioned in the blog that Terra CEO, Do Kwon shared, with the interoperability of Terra in mind, this LUNA ecosystem will be the gateway to the wider Cosmos ecosystem and beyond.

Read more: Terra 2.0

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Additional Read: LUNA vs LUNA Classic 

How Will the Terra LUNA 2.0 Airdrop Token distribution be Calculated? 

The new LUNA Tokens will be distributes based on various criteria. To understand the calculations behind each segmented distribution, here are the methods: 

Eligible aUST Supply

Formula = SUM(MIN(user’s aUST balance, 500k)) — TFL wallets UST Supply

Eligible UST Supply

Formula = UST Supply — TFL wallets UST Supply

Eligible LUNC Supply

Formula = LUNC Supply — TFL wallets LUNC Supply

Pre-attack aUST holders airdrop ratio

Formula = aUST allocation / Eligible Pre-attack aUST Supply

Pre-attack LUNC holders airdrop ratio

Formula = LUNA allocation / Eligible Pre-attack LUNC Supply

Post-attack LUNC holders airdrop ratio

Formula = LUNA allocation / Eligible Post-attack LUNC Supply

Post-attack UST holders airdrop ratio

Formula = LUNA allocation / Eligible Post-attack UST Supply

Final user allocation

Pre-attack aUST holders airdrop ratio x User pre-attack eligible aUST holdings

+ Pre-attack LUNC holders airdrop ratio x User pre-attack LUNC holding

+ Post-attack LUNC holders airdrop ratio x User post-attack LUNC holding

+ Post-attack UST holders airdrop ratio x User post-attack UST holding

Source: LUNA Airdrop Blog

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. In case you have any queries, write to [email protected].

The above information represent the independent views of Primestack Pte. Ltd, Neblio Technologies Pvt. Ltd, and/or their affiliate entities and are for informational & educational purposes only. The content, information or data provided above is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or shares, virtual digital assets/ crypto products or securities, or to participate in any investment or trading strategy. Any statement or communication made above shall not be treated as a legal, financial, investment or tax advice by the reader. The calculations, data, risk-return formulations, performance or market capitalization indicators captured above are based on the independent data sourcing including collation of public information and/or analysis performed by analysts, advisors or employees of Primestack Pte. Ltd/ Neblio Technologies Pvt. Ltd and/or their affiliate companies and/or any third party. Past performance is not indicative of any future results. The reader(s) are hereby advised to consult their financial/ legal/ tax advisor(s) before making any investment.


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