FTX updates token change and rules for new LUNA airdrop

Recently, FTX has released an announcement of token change and airdrop rules for new LUNA. After the Terra 2.0 proposal was approved, less than 24 hours later a series of exchanges announced to support Terra 2.0, including Binance, Bitfinex, Huobi, FTX, and OKX,…

FTX New LUNA Token Change and Airdrop

Specifically, in one of its tweets, FTX made its new announcement in terms of the token change for LUNA and the detailed rules for the upcoming new airdrop.

In the sharing announcement, the Terra network will be renamed the Terra Classic network. The number of new LUNAs eligible users will be determined by the tokens on the Terra Classic network and the holding period of the tickets. This token (based on pre-Attack and post-Attack snapshots), and the number of tokens held.

There are two sets of airdrops defined in Terra 2.0 – LUNA Airdrops and FTX will handle them differently. Code change convention:

FTX will make the following code change at 4:00 a.m. on May 27 (UTC)

• Old LUNA marker (Terra Classic) = LUNC
• Old TerraUST ticker (Terra Classic) = USTC
• New LUNA (Terra 2.0) marker = LUNA2

The rules for airdrops according to the period that holds the announcement macs are also detailed in this announcement.

The main content of the rule is in line with the Terra community’s airdrop plan, but the token distribution time is a bit later.

Terra 2.0 will be a brand new blockchain

For the past several days, there has been speculation about whether Terra 2.0 will be released or whether Do Kwon and his team will change their mind and agree to burn more Luna tokens to restore the current price decrease.

However, contrary to all that users think, Terra 2.0 will not be a Terra chain currently nurturing Luna.

Instead, it will be a brand new blockchain network that will start from the Genesis 0 block. Terra revealed this in a recent Twitter thread. Earlier, Do Kwon tweeted that Terra 2.0 will be a hard fork of Luna. That can’t seem to happen anymore.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News