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LUNC, USTC converting Plan and LUNA (new) Airdrop

To be consistent with Terra’s (LUNA) product plan, according to Binance’s transition schedule, ONUS will rename the existing Terra network to Terra Classic and support the Terra network Airdrop.

  • Complete the token conversion LUNA >> LUNC, UST >> USTC
  • The Exchange feature for LUNC and USTC is expected to reopen at 9:45 UTC May 30.

Airdrop token LUNA (new)

The (new) LUNA token is expected to be officially listed on ONUS on May 31. Users who own LUNC or USTC will receive an airdrop of (new) LUNA tokens at the rate announced by Terra Network. As follows:

1. Pre-Attack: Snapshot at 14:59 May 07 2022

Holders of LUNA and UST recorded at 14:59 on May 7 will receive (new) LUNA at the following rate:

  • 1 aUST = 0.01827712143 LUNA
  • 1 LUNC = 1.034735071 LUNA

Vesting Schedule:

  • Owners < 10,000 LUNA: Receive 30% before 15:30 on May 31, 6 months course. From December 2022, receive 70% of the remaining LUNA amount divided equally every month within 24 months.
  • Owners 10,000 LUNA – 1M LUNA: From June 2023 onward, monthly distribution over 24 months.
  • Owners > 1M LUNA: From June 2023 onward, monthly distribution over 48 months.

2. Post-Attack: Snapshot at 16h38 May 26

Holders of LUNA and UST recorded at 16:38 UTC May 26 will receive (new) LUNA at the following rate:

  • 1 USTC = 0.02354800084 LUNA
  • 1 LUNC = 0.000015307927 LUNA

Vesting Schedule:

  • Before 8:30 UTC May 31: Receive 30% of the amount of LUNA.
  • 6 month cliff. Starting from December 2022, vesting 70% of the remaining LUNA amount every month for 24 months. 

Summary of Terra’s latest news

  • The old Terra blockchain network was renamed to Terra Classic. The two tokens of this network, LUNA and UST, have been renamed LUNA Classic (LUNC) and UST Classic (USTC).
  • The new Terra blockchain network (Terra 2.0) was released, running parallel to and independent of the Terra Classic network. LUNA (new) is the official active governance token in Terra 2.0.
  • LUNC and UST holders prior to the snapshot will receive a new LUNA token Airdrop. See announcements from Terra and announcements from Binance.