LUNA 2.0 Token Airdrop - Terraform Labs Working on a Solution

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LUNA 2.0 Token Airdrop - Terraform Labs Working on a Solution

In Brief

  • Terraform Labs is working on a solution to the problem of some users receiving less LUNA from the LUNA 2.0 airdrop than they expected.

  • Many holders of the original LUNA token lost a significant amount of money when the price of the token collapsed, and the airdrop was meant to compensate them for their losses.

  • However, due to an uneven distribution of the airdropped tokens, some users have received less LUNA 2.0 than they lost of the original LUNA.

Terra has comfirmed that some investors have received less LUNA from the airdrop than they were supposed to. Terra is working on a solution to the problem.

Developers behind the Terra Classic ( LUNC ) and TerraClassic USD (USTC) stablecoins have launched Terra 2.0 ( LUNA ), in an attempt to move forward from the catastrophic crash that hit both of their tokens, losing investors millions in the process .

One user claimed:

I held $300k in LUNA was only airdropped $59 worth of the new token.

Terra's response:

This news comes soon after reports showed that several large actors played a role in the original TerraUSD (UST) token losing its peg, which led to Terra Classic’s price dropping to below 1 cent. It also follows news of Terraform employees being under investigation  in South Korea after the collapse of the UST stablecoin.

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