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  • Writer's pictureSieracki Milosz

Binance support the Terra network airdrop Best cryptocurrencies exchange

Binance support the new Terra network airdrop and rename current Terra network as Terra Classic network.

Binance will rename the current Terra network as Terra Classic network and support the Terra network airdrop. LUNA LUNC

The LUNA LUNC and UST tokens of the Terra Classic network will henceforth be referred to in this announcement as LUNA (old) and UST (old). Further details are shown in the timeline below

  • LUNA (old) and UST (old) Trading Suspension:

  • LUNA (old) and UST (old) deposits and withdrawals will be suspended on 2022-05-26 at 14:00 (UTC).

  • LUNA/BUSD and UST/BUSD spot trading pairs will be suspended and all pending spot orders will be cancelled on 2022-05-26 at 15:00 (UTC).

  • LUNA (old) and UST (old) Ticker Change to LUNC and USTC Respectively:

  • The ticker for the LUNA (old) token will be renamed as LUNC.

  • The ticker for the UST (old) token will be renamed as USTC.

  • LUNC and USTC Trading Resumption:

  • Trading will open for LUNC/BUSD and USTC/BUSD spot trading pairs on 2022-05-30 at 09:30 (UTC).

  • LUNC and USTC deposits and withdrawals will resume on 2022-05-30 at 09:45 (UTC).

Exchange Crypto Binance distribute the new Terra 2.0 token (LUNA) to all eligible users based on Terra project team’s token distribution plan. The distribution ratio per account will be announced in a separate announcement.

Detailed Airdrop Rules of new LUNC

LUNA (old) AnchorUST (aUST) From December 2022 onward, monthly distribution of the remaining 70% over 24 months. 10k  LUNA (old) holding 1M LUNA (new) - from June 2023 onward, monthly distribution over 24 months. 1M LUNA (old) holding	LUNA (new) from June 2023 onward, monthly distribution over 48 months. LUNA (old) and UST (old) Staking users	LUNA (new)

Please note:

  • The pre-attack snapshots will include: LUNA balances (old) on Spot Accounts, Margin Accounts, Savings Accounts, Wagering Accounts, and Futures Accounts with Monetary Deposit, but excluding USDT Futures Accounts.

  • Post-attack snapshots will include: LUNA (old) and UST (old) balances on Spot accounts.

  • LUNA (old) and UST (old) borrowed from a margin or crypto loan or LUNA (old) and UST (old) transferred to Spot accounts from these accounts will not be eligible to receive tokens from the dump.

  • Binance Staking will post another announcement with more airdrop details for LUNA (old) and UST (old) users on their Locked Staking accounts.

  • U.S. individuals, sanctioned entities and countries are not eligible to receive this discharge

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Milosz Sieracki

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