Upbit, the South Korea-based cryptocurrency exchange, has done just that detailed are plans for the upcoming LUNA2 airdrop aimed at LUNC holders. Formerly known as LUNA, LUNC underwent a rebrand and its holders are now about to receive LUNA2 tokens.
Snapshot insights
The LUNA2 airdrop is expected to launch within the next 24 hours.
A staggered distribution approach was adopted, with 70% of airdrop tokens being rolled out over a 24-month period.
Two crucial snapshots were taken to determine the spread of the airdrop:
1. First Snapshot: 2022-05-07, 22:59:37 (SGT) at block height 7,544,910. Exchange rate: 1 LUNC = 1.034735071 LUNA2.
2. Second snapshot: 2022-05-27, 00:38:08 (SGT) at block height 7,790,000. Exchange rate: 1 LUNC = 0.000015307927 LUNA2.
A bonus provision is in effect: LUNC holders with a balance of more than 10,000 at the time of the first snapshot are entitled to an additional 30% of the initial airdrop during the second phase.
Warnings to consider
Upbit’s approval of the airdrop does not equate to a green light for LUNA2 on their platform.
UNA2 airdrop amounts are truncated to a maximum of 8 decimal places.
Monthly LUNA2 airdrop amounts are subject to change depending on the unconditional release strategy, a decision resting with the token’s governing foundation.
The Upbit team signed off on the announcement and reiterated their commitment to their user base.
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