Currently there is a lot of commotion about the Terra 2 genesis $LUNA airdrop. The biggest airdrop in the history of cryptocurrency, that tries to compensate rekt Terra and UST holders. We give a short summary of current events regarding this infamous airdrop.
The Terra 2 genesis airdrop is expected to go live on May 28th, 2022 at around 06:00 AM UTC.
The day Terra 2 launches its new blockchain. Meaning Terra Classic will not be forked but a totally new blockchain will be launched, starting from block zero.
How much will you get airdropped?
Holders will receive the following amount of LUNA for compensation, according to their holdings.
- Pre-attack (b)LUNA)-p = 1 / 1
- Pre-attack UST on Anchor = 1 / 0.0267
- Post-attack LUNA = 1 / 0.000015
- Post-attack UST = 1 / 0.016
What is the airdrop allocation?
- Pre-attack LUNA holders: 35%
- Pre-attack aUST holders: 10%
- Post-attack LUNA holders: 10%
- Post-attack UST holders: 15%
When will the post-attack snapshot happen?
The snapshot for the airdrop happens today on 26th May 06:30 PM CEST (block: 7,790,000).
Where will you get your Terra 2.0 airdrop?
Users will get their token on the same addresses they had under control on Terra Classic. If your address is eligible for the Terra 2 airdrop, your LUNA will automatically appear here.
Meaning your Terra 2 and Terra classic holdings will be both accessible. Because you have the same address on Terra 2. If you have LUNA or UST on an exchange you should send it to an address you control.
What will happen to the price of the newly dropped tokens?
As the snapshot approaches, we will see what the market really thinks about the new LUNA price.
The genesis unlock will be liquid, so immediately sellable. But you will not be able to dump all of your airdropped tokens.
Where 30% of the airdrop will be immediately transferable and 70% will be locked. The duration of the locked and bonded LUNA will be spread out over 2 years and you will be able to unlock your first batch after 6 months.
Hereafter the unlocking process will happen slowly block by block. This airdrop will be bonded, meaning you can redelegate, vote and even earn staking rewards with it.
