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(old) LUNA updates and (new) LUNA airdrop

Kao Jane
  • Updated on

Dear Traders,

WOO X will support the Terra network airdrop and naming standards. To distinguish between new and old LUNA tokens, after June 10th, the (old) LUNA will be renamed to "LUNC", and (new) LUNA will be named to “LUNA".  (About the naming rules, please refer to the New UST/LUNAC Revival plan). Please see the following arrangements and details below:

About (old) LUNA:

  1. The current (old) LUNA will be renamed to LUNC at 04:00 AM (UTC) on Jun 10, 2022.
  2. WOO X will open withdrawals of (old) LUNA at 04: 00 AM (UTC) on Jun 06, 2022.
  3. WOO X has removed the (old) LUNA/USDT trading pair since May 30, 2022, please refer to the previous announcement regarding (old) LUNA information for more details.

About (new) LUNA and airdrops:

WOO will distribute the (new) LUNA to all eligible users based on the Terra Ecosystem Revival Plan 2, and divide it into different sets of the airdrop.

  • Pre-attack
    • The snapshot was taken at 14:59 AM (UTC) on May 7, 2022, at Terra Classic block height of 7544910.
    • According to the airdrop plan, 35% of all the (new) LUNA will be airdropped to pre-attack old LUNA (LUNC) holders.
    • Pre-attack distribution and vesting schedule
      • For accounts with < 10k old LUNA (LUNC) holding: 30% of new LUNA will unlock at genesis block; the remaining 70% will be vested over 24 months from December 2022.
      • For accounts with 10k ≤ old LUNA (LUNC) < 1M holding: The new LUNA airdrop will vest over 24 months from June 2023.
      • For accounts with ≥ 1M old LUNA (LUNC) holding: The new LUNA airdrop will vest over 48 months from June 2023.
  • Post-attack
      • The snapshot was taken at 04:38 PM (UTC) May 26, 2022, at Terra Classic block height of 7,790,000
      • According to the airdrop plan, 10% of all the (new) LUNA will be airdropped to pre-attack old LUNA (LUNC) holders.
      • Post-attack distribution and vesting schedule
        • 30% of new LUNA will unlock at genesis block; the remaining 70% will be vested over 24 months from December 2022.
  • Distribution details
    • Pre-Attack: 1 LUNC = 1.034735071 (new) LUNA
    • Post-Attack: 1 LUNC = 0.000015307927 (new) LUNA

Note:

  1. WOO X offered spot-margin trading for (old) LUNA at the time of the snapshot. As a result, the amount of (new) LUNA that each user is entitled to may not be directly proportional to the amount of (old) LUNA that the user held at the snapshot. WOO X will make adjustments for such differences carefully.
  2. The WOO team will conduct the listing evaluation for the (new) LUNA listing and announce if we will support it. 
  3. WOO X will share the timing of support for airdrop and withdrawals/deposits for the new LUNA tokens in a further announcement.
  4. WOO X will adjust the remaining (new) LUNA distribution according to the vesting schedule and situation. We will publish details of the remaining token distribution and implementation in a separate announcement.
  5.  Users should be aware of the associated risks of new LUNA airdrops. WOO X is not responsible for any losses resulting directly or indirectly.

Thank you for your support!

WOO X Team 

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