At least 6 brokers announce LUNA 2.0 distribution support today – Money Times

See how to receive the airdrop of the new LUNA token. (Image: Crypto Times)

at least another six crypto exchanges announced on Thursday (26) support for the launch of the new Terra network, and confirmed the trading of the new LUNA 2.0 token – among them Bitifinex, KuCoin, BitPreço, Binance, FTX and Gate.io.

The day before, three other brokers had already announced the tool.

Some exchanges, such as Binance, will keep trading the old tokens even after the new ones are released. KuCoin also followed this path, and decided to relist the old tokens on its platform.

Gate.io has announced that it will follow a similar relisting protocol, but only after the new tokens are distributed.

Other exchanges such as Crypto.com and FTX will suspend and delist old tokens. In the case of FTX, the broker announced that it will keep only the new ones that will be distributed through its platforms and permanently delist the old ones.

After the network recovery plan was officially approved on Wednesday (25), some crypto exchanges had already informed that would support the “airdrop” (distribution) of tokens from the new version of the network.

How will the airdrop be done?

The tokens of the network that collapsed will be renamed “Classics”, that is, “Luna Classic” and “UST Classic”, while the new ones will be called LUNA, or even LUNA2.

The distribution of new tokens for affected investors has been officially fixed as:

  • Those who had pre-collapse LUNA- 1 LUNAC : ~1.1 LUNA
  • Those who had pre-collapse UST – 1 LUNAC : 0.033 LUNA
  • Who held post-collapse LUNA – 1 LUNAC : 0.000015 LUNA
  • Who held post-collapse UST – 1 LUNAC : 0.013 LUNA

The official launch of the Terra 2.0 network will take place this Friday (27), as announced by Do Kwon, creator of the project.

Binance will list LUNA 2.0

Binance confirmed this Thursday (26) that it will make the new tokens available on its platform, and help with the distribution, or airdrop, of Luna 2.0.

“Terra Network Airdrop will be distributed on Binance . The new Terra 2.0 token, $LUNA, will be distributed to eligible users based on the project’s distribution plan. The distribution ratio per account will be announced separately.”

Binance announced this morning how it would apply to its platform the changes suggested in the proposal of Do Kwon, the creator of Luna.

On the exchange, withdrawals and deposits from Luna and UST have been suspended from 11:00 am (GMT) in preparation for the update. At noon today, trading of both currencies with the BUST pair has also stopped.

Starting tomorrow, the old version of Luna and UST will be identified as LUNC and USTC on the platform and will remain available for trading even after the launch of the new version of the network, starting next Monday (20).

Crypto.com Ends Luna Classic Trading

Crypto.com says in a statement that “in support of the new LUNA token ‘airdrop’, the Crypto.com App and Exchange will temporarily suspend $LUNA trading and deposits/withdrawals via Terra on May 26 at 12:00 UTC until further notice.”

It was unclear whether the exchange will provide the distribution of the new token, it was only disclosed that the team has been monitoring the Earth Ecosystem Revival Plan 2 and is in contact with the Terra team.

“We will provide updates once plans are confirmed. The safety and security of our users is our first priority.”

In addition to the new tokens, KuCoin will relist the “Classic”

Exchange KuCoin also commented on the launch. According to a statement, in addition to relisting the tokens from the old network that collapsed, they will list the new ones and help with distribution to users.

“We are working closely with the Terra team to support the migration and ‘airdrop’ of $LUNA and $UST tokens. Please wait for our additional announcement on the resumption of $LUNC trading [Luna Classic] $USTC [UST Classic] and the listing of the new LUNA token”.

As announced, the re-listing of the “Classic” tokens on the platform will take place this Thursday (26), at 17:00 UTC (international time).

BitPrice

The national exchange BitPreço announced that it will support the new currency and will also redistribute the airdrop to users who have LUNA on the platform.

According to Ney Pimenta, CEO of the company, “Many users are counting on the airdrop to reduce their losses, so we believe BitPreço’s support is important in this regard”.

gate.io

Exchange Gate.io shared on its website the announcement that it will support the launch of the new token, in addition to ending the trading of the “Classics”. Check out the full ad:

“To support ticker change and ‘airdrop’, Gate.io will close the current LUNA and UST market before May 26 at 08:00 UTC. Below are more details:

1) Gate.io has suspended LUNA margin lending and lending services,and perpetual contracts are in reduction-only mode. Before May 26 at 8:00 am (UTC), Gate.io will close any other LUNA and UST lending, borrowing or margin services. LUNA and UST deposits and withdrawals will be suspended before May 26, 08:00 AM (UTC).

2) Starting May 26, 8:00 AM (UTC), Gate.io will take LUNA and UST trading (spot, margin, quantitative and perpetual contract) offline and cancel any and all open orders. And automatically liquidate any open position and outstanding loan, remove any remaining liquidity from the liquidity mining pool.

3) From May 26 at 8:00 am (UTC), Gate.io will take the LUNA 3S offline and redeem the LUNA3S based on the net asset value when the market closes.

4) Gate.io will change the ticker from LUNA to LUNC and UST to USTC. When we complete the change, we will open the LUNC and USTC spot trading markets.

5) When Gate.io receives the ‘airdrop’ tokens, we will distribute all of them to eligible users. However, due to airdrop restrictions, Gate.io snapshot time, token distribution amount and time can be adjusted accordingly. Gate.io snapshot timing is not determined at this time, follow us and stay updated.”

Bitfinex

The exchange that shares the same CTO with Tether (USDT), also announced support for the new Terra network.

According to the announcement, deposits and withdrawals for Terra (LUNA), TerraUSD (TERRAUST), Mirror Protocol (MIR) and Anchor Protocol (ANC) will close from 12:30 UTC this Thursday in preparation for the migration of the new Terra .

The Bitfinex UI ticker will remain the same for LUNA and UST. The new Terra token will be called LUNA2.

LUNA airdrop distribution details on Bitfinex:

A photo [snapshot] of the pre-collapse blockchain taken on May 7, 2022 in block 7544910 will be the basis for the distribution.

“It will be proportionately based on the Bitfinex compensation received as per the Terra Rebirth distribution proposal. Bitfinex will liquidate LUNA longs against LUNA shorts.”

A photo [snapshot] of the post-collapse blockchain taken at block 7,790,000 (approximately 5/26/2022 19:59 UTC), according to the report.

“Based on the Terra Rebirth distribution proposal, Bitfinex will receive compensation that will be distributed to legacy LUNA and UST holders as LUNA2 tokens. Bitfinex will distribute LUNA2 tokens shortly after receiving them; We will provide more detailed timetables as the Terra team makes them available.”

Once distributed to injured investors, the new spot trading pairs for LUNA2/USD and LUNA2/USDT will be available for trading on Bitfinex, and this will be announced in a separate post.

FTX went back

Do Kwon shared an FTX announcement about Terra 2.0 on his Twitter profile, celebrating the exchange’s support. However, the publication was deleted by the brokerage itself.

(Image: Twitter/Playback)

FTX re-shared the post hours later, announcing that it will indeed support Do Kwon’s recovery plan by suspending trading of the “Classic” tokens.

The official publication of the broker’s website removes the responsibility of the company regarding the negotiation of the new token. Check out:

“Users who have UST and LUNA balances on FTX during the time of the snapshot [foto do blockchain] will be eligible to receive the new LUNA airdrop, subject to certain adjustments. Details including timing, implementation and value will be announced separately.

Note: Trading digital assets carries high risk due to large price fluctuations. Before trading, make sure you have a thorough understanding of all the risks associated with investing in digital assets.

It is your responsibility to understand the implications of the LUNA and UST migration and the new LUNA airdrop. FTX is not responsible for any losses.”

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