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Summary of BitOasis actions in regards to Terra LUNA

As a BitOasis customer, giving you accurate information is of the utmost importance to us. Over the past couple of weeks, the LUNA and UST price fluctuation and eventual deterioration due to market volatility have been and continue to be a source of frustration for many of us. To ensure clarity and transparency we wanted to share with you a summary of the actions taken by us following these events. 

Throughout this period we have worked hard to ensure we communicate with and respond to all our customers across multiple channels. 

We were also determined to support the new Terra 2.0 (LUNA2) airdrop and enable trading of LUNA2 for our customers to serve their best possible interests. Regardless of the measures we have taken, a small portion of our community is dissatisfied with the outcome; some expressing their views via social media. While we encourage our community to engage with us, at the same time, claims about price manipulation, token miscalculation, or even seeking to attribute blame on BitOasis for market losses, are unfounded and without any basis. 

Facts around LUNA pricing on BitOasis

To gain a comprehensive understanding of the pricing of LUNA on our platform, please refer to this ‘Clarification on the Terra LUNA price alignment’ issued by BitOasis on May 23, 2022. In this blog post, we have shared details of how extreme price volatility resulted in price differences across a number of global platforms. 

Our support for the LUNA2 airdrop

We completed the Terra 2.0 (LUNA2) airdrop distribution to all eligible legacy LUNA and UST holders on BitOasis by May 30, 2022. More details on how BitOasis facilitated the distribution of the new Terra 2.0 token (LUNA2) to all eligible holders can be found here.

Enabling trading of LUNA2 for our customers

We enabled the trading of (Terra 2.0) LUNA2 on the BitOasis platform on May 30, 2022. More details on how BitOasis opened trading of LUNA2, including information on live trading pairs and ticker updates, are provided here.

Our final update on the LUNA situation

As a platform that works with global liquidity providers, we have no influence or control over market volatility or consequential price adjustments. Having reviewed the situation from multiple perspectives, no technical glitches were found that impacted the pricing displayed on our platform. For these reasons, and in accordance with our Terms of Service, we maintain our stance on not being liable to compensate our community for trading losses. 

A gentle reminder: Please be aware of the potential risks associated with the trading of Terra 2.0 (LUNA2), Terra (LUNA) & TerraUSD (UST). The new LUNA2 token may be subject to price volatility and may present a higher-than-usual trading risk. We urge you to do your own research to understand the project and its fundamentals before deciding to trade the token. BitOasis will not be liable for any losses. All trading and investing carries risk. Please refer to our Terms of Service if you are unclear on risks, and your assuming risks, associated with cryptocurrency trading.