Upcoming Events

Following the attack on the Terra network which saw the price of Luna fall drastically, the Terra team has come up with a revival plan. The Terra network team has created version 2 of the Luna token on a different Terra ecosystem known as LUNA 2. The old Terra token and network are still active; the old Terra ecosystem is now called Terra Classic and the old token, LUNA Classic (LUNC).  

Different hodlers across all exchanges were affected by the sharp drop in the value of the old LUNA token, to compensate hodlers for their loss; Terra ecosystem has decided to airdrop the new token to former hodlers. The amount to be allocated to LUNA (old) hodlers will be determined by the quantity held in any crypto exchange and when hodlers bought the token (Pre-attack or Post-attack).

As with many exchanges that have supported the revival plan of the Terra ecosystem, Crypto.com has also openly shown its support for the network. As such, Crypto.com will also carry out the airdrop plan and also resume trading of both LUNA Classic and LUNA2 on its exchange.

How Crypto.com will handle LUNA 2 airdrop on its platform

Hodlers of the LUNA (old) token on the crypto.com App and exchange who held the token at the time of the snapshot will receive the airdrop of LUNA 2. However, based on the quantity of the old token you hodl and when you bought the token, the quantity of the new token you will receive and the time you will receive the airdrop will vary.

For Crypto.com App users, the snapshot included all outstanding LUNA (old) balances in your Crypto wallet and Crypto Earn. For Crypto.com Exchange customers, the snapshot included all LUNA (old) hodlings and the net total of the credit line.

However, crypto.com holds the right to cancel or amend the airdrop rules at any time. Also, the platform will not be held accountable for any changes to the distribution plan governed by the Terra Network concerning the airdrop.

LUNA (old) Hodlers Pre-attack

For hodlers who have the LUNA (old) token Pre-attack, they will receive 1.034735071 LUNA2 per every 1 LUNA (old) token they hodl. 

LUNA (Old) Hodlers with less than 10k token

For Hodlers with less than 10k LUNA (old) token, 30% LUNA2 of the total amount of LUNC they hodl has been airdropped to their crypto.com Crypto wallet since 1st June 2022. The remaining 70% of the airdrop will be spread over 24 months starting from December 2022.

LUNA (Old) Hodlers with Greater than 10k and lesser than 1Million token

The distribution of the LUNA2 token to Crypto.com hodlers of the LUNA (old) token with more than 10k but lesser than 1 million tokens will commence on June 2023. The airdrop will be spread over 24 months. So, crypto.com hodlers in this category will not receive this airdrop till 2023.

LUNA (Old) Hodlers with less than 10k token

For Hodlers with over 1M LUNA (old) token, the airdrop of the new LUNA token (LUNA2) token will start by June 2023. The distribution will be spread over 48 months.

LUNA (old) Hodlers Post-attack

Crypto.com users who bought LUNA (old) tokens after the attack on the network will receive 0.000015307927 LUNA2 tokens per LUNA (old). Unlike with pre-attack hodlers, regardless of the quantity of LUNA (old) post-attack hodlers have, the distribution of the new token will occur at the same time.

Crypto.com distributed 30% of the total amount of LUNA (old) tokens held by 1st June 2022. The remaining 70% will be spread over 24 months and the distribution will start by December 2022.

Where will you find your Luna2 airdrop on crypto.com

Crypto.com app and exchange users will find their LUNA2 token in their crypto wallet.

While the airdrop and the revival plan by Terra ecosystem give a glimpse of hope to hodlers, it still doesn’t account for the loss made by most hodlers presently. Crypto.com will resume trading, deposits, and withdrawal of LUNC on its app and exchange. Also, the platform will list the new LUNA token (LUNA2) on both the exchange and app with trading, deposits, and withdrawal feature enabled.

However, there is no specified date for the listing of LUNA2 and resumption of trading features of both LUNA2 and LUNC on the Crypto.com platform.

Comments are closed.