The LUNA revival plan has finally been realized as the 1st block of the new LUNA blockchain is underway. LUNA now exists in 2 forms, LUNA Classic (LUNC) and LUNA 2.0 (LUNA).
The TerraUSD stablecoin has not been migrated over to LUNA 2.0, signifying that LUNA’s only intention now is on-chain governance.
More than seventy percent of LUNA supply is either locked in staking, community pool, or for future developer allocation. The issuance of new LUNA tokens is through a widespread airdrop to all investors who held LUNA or UST on 7th May 7 or 26th May, when the 2 snapshots were taken.
Tokens are being allocated as per the proposal, with the bulk going to both the community pool and pre-attack LUNA holders.
Subsequent to the final snapshot on 26th May, the price of UST declined from approximately 0.11 USD to as low as 0.02 USD. Given that UST stablecoin has lost its peg to the dollar with no perceptible way back, its use case and LUNC are unknown.
Henceforth, all eyes will be on how the new tokens trade over the weekend as approximately thirty percent of airdropped tokens will be free to trade from day one.
The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]
April 30, 2020
PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]
December 27, 2019
Binance US, the American arm of the world’s largest cryptocurrency exchange, has terminated its agreement to purchase digital assets from Voyager Digital, […]
April 27, 2023
Bitcoin’s price rose above $29,000 on Wednesday morning as shares in First Republic Bank fell 50%. According to CoinGecko data, Bitcoin hit […]
April 26, 2023
Leave a Reply