The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” and developers are “actively working on a solution.”
Terra LUNA Airdrop Suffers From Miscalculation Error — Devs Plan to Offer a Solution
On Monday, May 30, 2022, Bitcoin.com News reported on the new Phoenix-1 blockchain and the native token called LUNA. The old chain has been rebranded and is now known as Terra Classic, and the old chain’s native tokens have also been renamed with the term “classic.” Luna classic (LUNC) and terrausd classic (USTC) are still listed on a number of exchanges as tradeable crypto assets. The new LUNA token jumped more than 85% in value on Monday, reaching a high of $11.45 per unit but on Tuesday, LUNA is trading for under $10 per unit. LUNA is still up over 40% during the past 24 hours and there’s $941 million in daily trade volume today. LUNA has a market valuation of around $2.037 billion at the time of writing and bitcoin (BTC) is the coin’s top trading pair with 55.22% of LUNA’s 24-hour trades. BTC is followed by USDT (32.98%), USD (5.82%), EUR (4.12%), and USDC (1.42%). Terrausd classic (USTC) is up 32.1% on Tuesday, but luna classic (LUNC) is down 17.4%. Furthermore, on Tuesday morning (ET), Terra developers revealed that the airdrop didn’t go as planned. It seems some users received less LUNA during the distribution. The Terra team’s official Twitter page says:We are aware that some have received less LUNA from the airdrop than expected & are actively working on a solution. More information will be provided when we have gathered all of the data, so stay tuned.
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