Terra Development Team Reveals Some Users ‘Received Less LUNA From the Airdrop Than Expected’

Terra Development Team Reveals Some Users 'Received Less LUNA From the Airdrop Than Expected'

The new Terra blockchain Phoenix-1 has been working since Saturday morning May 28, 2022, and on that day, hundreds of thousands of recent LUNA tokens have been dispersed to luna basic (LUNC) and terrausd basic (USTC) holders. However, on Tuesday the Terra improvement workforce revealed that some Terra token house owners “received less LUNA from the airdrop than expected,” and builders 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 known as LUNA. The outdated chain has been rebranded and is now often known as Terra Classic, and the outdated chain’s native tokens have additionally been renamed with the time period “classic.” Luna basic (LUNC) and terrausd basic (USTC) are nonetheless listed on quite a few exchanges as tradeable crypto property. The new LUNA token jumped greater than 85% in worth on Monday, reaching a excessive of $11.45 per unit however on Tuesday, LUNA is buying and selling for below $10 per unit.

LUNA remains to be up over 40% throughout the previous 24 hours and there’s $941 million in each day commerce quantity in the present day. LUNA has a market valuation of round $2.037 billion at the time of writing and bitcoin (BTC) is the coin’s prime buying and selling pair with 55.22% of LUNA’s 24-hour trades. BTC is adopted by USDT (32.98%), USD (5.82%), EUR (4.12%), and USDC (1.42%). Terrausd basic (USTC) is up 32.1% on Tuesday, however luna basic (LUNC) is down 17.4%. Furthermore, on Tuesday morning (ET), Terra builders revealed that the airdrop didn’t go as deliberate. It appears some customers obtained much less LUNA throughout the distribution.

The Terra workforce’s official Twitter web page says:

We are conscious that some have obtained much less LUNA from the airdrop than anticipated & are actively engaged on an answer. More info shall be supplied when we’ve gathered all of the information, so keep tuned.

Terra Token Owners Are Not Happy With the Phoenix-1 Distribution Plan, Many Confirm Receiving Less Than Expected and Some Claim They Received Nothing at All

The Terra builders’ social media publish on Twitter is suffering from consumer complaints and folks confirming the incontrovertible fact that they’d not obtained what they anticipated. Some Terra customers complained they obtained nothing, whereas different Terra token house owners revealed their public addresses to show affirmation that they’d obtained lower than what they need to have been airdropped primarily based on the Phoenix-1 distribution plan. Some people criticized the airdrop distribution plan and snapshot date.

“This airdrop should have been done in 3 stages,” one particular person wrote on Tuesday. “Between the 7th and 12th of May, the money of the buyers was reset and the airdrop did not work because the number of lunas they received was low. Those who trusted Do kwon’s tweets bought it at a high price.”

Other customers complained about third events and in style crypto exchanges holding their new LUNA tokens hostage and a few folks requested the builders to contact sure exchanges. Additionally, some customers on social media made a fuss about non-custodial wallets that don’t help the Phoenix-1 chain at the second. It’s protected to say that a large number of Terra token house owners are not glad with how the airdrop was deployed. Since the Terra builders disclosed there was a problem with the airdrop, the workforce has not but produced an answer to the downside.


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