Binance Announced New Support and Airdrop for Terra (LUNA) Users

Binance announced that it will change the name of the protocol focused on stablecoins “Terra” for that of “Terra Classic”, reported it’s a statement.

The cryptocurrency exchange said that he token LUNA will be called “LUNC” on the platform, as well as the UST stablecoin will change its name to “USTC”.

He indicated that the deposits and withdrawals of LUNA y UST were suspended this Thursday May 26 from 2:00 PM.

He added that trading pairs MOON / BUSD y UST/BUSD were suspended and all pending orders were canceled yesterday at 3:00 PM.

Resumption of business operations

Binance specified that trading of the new LUNC and USTC stablecoins will be open for trading pairs LUNC/BUSD y USTC/BUSD next Monday May 30 from 9:30 AM

Likewise, the deposits and withdrawals LUNC and USTC will resume at 9:45 AM.

The exchange assured in its Twitter account who will work closely with the Terra team with the aim of providing the Affected users on Binance the best possible treatment.

The Terra community just passed a vote to ‘Rebirth Terra Network’.

We are working closely with the Terra team on the recovery plan, aiming to provide impacted users on Binance with the best possible treatment. Stay tuned for further updates.

— Binance (@binance) May 25, 2022

Terra airdrop launch

Binance reported which will launch the new token Terra 2.0 (LUNA) to all eligible users, based on the Terra team distribution plan.

“The proportion of airdrop distribution will be announced separately,” the statement said.

Data to take into account:

• First: the LUNA balance will be included (ancient) in spot accounts, margin accounts, savings accounts, participation accounts, and currency margin futures accounts, but will exclude currency margin futures accounts. USDT.
• Second: post-attack snapshots will include LUNA balance (ancient) and you (ancient) in cash accounts.
• Third: LUNA (ancient) and you (ancient) provided from Margin the Crypto Loans, the LUNA (ancient) and you (ancient) transferred to Spot accounts from these accounts will not qualify to receive airdrop tokens.
• Fourth: Binance Staking will make a new announcement with more details related to the airdrop for users with LUNA balance (ancient) and you (ancient) in their Locked Staking accounts.
• Quinto: persons, entities, or countries sanctioned by the US government are not eligible to receive this airdrop.

For more information, see Binance’s terms of use by clicking here.

This article is merely informative and does not constitute a purchase or investment recommendation.  We encourage readers to do their due diligence before investing in NFT games or cryptocurrencies as most are highly volatile.
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