Upbit, the South Korean-based cryptocurrency exchange, has detailed its plans for the forthcoming LUNA2 airdrop targeting LUNC holders. LUNC, previously known as LUNA, underwent a rebranding and its holders are now on the cusp of receiving LUNA2 tokens.
The LUNA2 airdrop is slated to kick off in the next 24 hours.
A staggered distribution approach has been adopted, with 70% of the airdrop tokens to be rolled out over a span of 24 months.
Two pivotal snapshots were captured to determine the airdrop’s distribution:
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 place: LUNC holders with a balance exceeding 10,000 at the first snapshot’s time will be entitled to an extra 30% of the initial airdrop during the second phase.
Caveats to Consider
Upbit’s endorsement of the airdrop doesn’t equate to a trading green light for LUNA2 on their platform.
UNA2 airdrop quantities will be truncated to a maximum of 8 decimal places.
Monthly LUNA2 airdrop quantities are subject to change, contingent on the vesting release strategy, a decision resting with the token’s governing foundation.
The Upbit team signed off the announcement, reiterating their commitment to their user base.
Image source: Shutterstock