As Terra 2.0 is released, which trading platforms will support the new chain migration and issue airdrops?

It's been half a month since Terra's empire collapsed, and the crash of LUNA and UST took most users by surprise in just one day.

Recently, after several discussions and votes, the Terra community approved a proposal to launch a new chain, Terra &Nbsp; The final release of Core will launch the new chain on May 27th. New LUNA will be airdropped to LUNA Classic pledgers, LUNA Classic holders, remaining UST holders, and Terra Classic base application developers. Binance, BYBIT and other trading platforms will support the new LUNA airdrop.

According to Terra's official governance website, Terra 2.0 will take a snapshot at the block height of 7790000, which could occur as early as 00:20 BST on May 27, based on block time. The supply was close to 116.7m at Genesis and will rise to 182m a year later.  

Position users can obtain the proportion of the drop and snapshot time

The snapshot time and block height before and after the attack are as follows

Before the attack, the snapshot time of the position user and the new Token allocation existed

Snapshot time: 22:59:37, May 7, Beijing time, block height 7544910.

New Token allocation (including pledged derivatives)

30% of all holders with 10,000 LUNA or less will be unlocked at creation; 70% have 6 months lock-up period and 2 years linear unlock;

Hold less than 500,000 aUST (UST exists in Anchor), 30% unlocked at creation; 70% have 6 months lock-up period and 2 years linear unlock;

Holding less than 1 million LUNA, 1-year lock-up period, 2-year linear unlocking period;

Holding more than 1 million LUNA, 1 year lock period, 4 years linear unlock period.

Snapshot time and new Token allocation after attack

Snapshot time: estimated at 03:59 BST, May 27, block height 7790000

The new Token allocation

The percentage of airdrops available to users who purchased LUNA or UST after the attack will be announced after the snapshot.

30% unlocked at creation; 70% have 6 months lock-up period and 2 years linear unlock;

Trading platform support for Terra new chain

FTX: New LUNA Token airdrops will be supported and the old LUNA and UST markets will be suspended

FTX will suspend the LUNA and UST market on May 26, 2022 at 20:00 BST. FTX supports the new LUNA Token airdrop. At the snapshot point in time, users with UST and LUNA balances on FTX will be eligible for the new LUNA Token airdrop, subject to some adjustments.

Binance: Is working closely with the Terra team on a recovery plan

Binance said ina social media post that it is working closely with the Terra team to develop a recovery plan aimed at providing the best possible "compensation" for Binance's affected users. Stay tuned for further updates.  

Huobi: Supports migration and airdrop of LUNA and UST

Huobi Global  Support for this Terra 2.0 migration upgrade, with the newly minted LUNA expected to follow. LUNA and UST at Huobi Global& NBSP; The user balance snapshot will be followed by an airdrop in block 7790000.

Bybit: Existing LUNA and UST holders get new LUNA tokens

As Terra continues to create a new chain Terra 2.0, the current Terra chain will soon be renamed Terra Classic, and Bybit will perform LUNA to LUNC and UST to USTC on May 26, 2022 at 6am. The number of LUNCs and USTCs held by users will be the same as before the migration.

1. Top-up, withdrawal and transfer of LUNA and UST will be stopped at 2pm on May 25, 2022;

2. All spot orders of LUNA/USDT, LUNA/USDC, UST/USDT will be cancelled and trading will be suspended;

3. Charging of LUNC and USTC will be available at 6 am UTC on May 26, 2022;

4. The wallet addresses of the LUNC and USTC remain unchanged.

The corresponding new spot trading pairs of LUNC/USDT, LUNC/USDC and USTC/USDT will go live on Bybit at 6 am UTC on May 26, 2022. Existing LUNA and UST holders on Bybit will receive new LUNA tokens (Terra 2.0 chain) by airdropping them into their Spot account.

Gate: Supports Terra migration, code changes and airdrop plans

Gate supported the migration and airdrop plan. The platform will change the name of the corresponding token, and the airdrop token received by the platform will be fully distributed to users.

Gate will be off the current LUNA and UST market on May 26, 2022 under a new name. The specific arrangements are as follows:

1) Gate. IO has now stopped the leverage lending of LUNA and UST, and the perpetual contracts have entered the reduction only mode. As of 16:00 UTC+8, May 26, 2022, LUNA and UST will be closed for all financial and lending services, including coin-lending and all-position lending.

2) LUNA and UST top-up and withdrawal services will be closed until 16:00 UTC+8, 26 May 2022.

3) May 26, 2022 16:00 UTC+8, LUNA and UST trading will be offline, including spot trading (including liquidity mining and quantitative grid trading), leveraged trading, and perpetual contract trading. Be sure to complete the closing in advance, otherwise the forced closing will be triggered; Untapped liquidity mining will also be automatically proposed.

4) Before noon 16:00 UTC+8 on May 26, 2022, LUNA 3S will be offline and redeemed at the net value before offline.

5) After the name change is completed, LUNC and USTC spot trading markets will be launched.

6) After Gate receives the new LUNA token airdrop, it will distribute 100% of the airdrop received to users (however, due to the limitations of airdrop rules and implementation difficulties, the amount and time of distribution may be adjusted to the user's airdrop snapshot time, and the specific snapshot time of airdrop will be announced later).

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