Following our last update on the Terra market movement, we are pleased to share more information about the new Terra Network.
In the past couple of weeks, a series of events opened the doors to an airdrop, amongst other developments in the Terra ecosystem. We think it is essential to learn about the different stages of the network, so you know what to expect.
How BitOasis is approaching the trading of Terra 2.0 (LUNA2)
Terraform Labs launched the new blockchain at 06:00 AM UTC on May 28, 2022, accompanied by a token airdrop for previous LUNA and UST holders.
We enabled the trading of (Terra 2.0) LUNA2 on the BitOasis platform on May 30, 2022.
You can trade LUNA2 with UAE Dirham (LUNA2-AED), Saudi Riyal (LUNA2-SAR), and Tether tokens (LUNA2-USDT) pairs. Please note that at this time, only trading of LUNA2 is live on BitOasis, deposits and withdrawals have not been activated yet. We will share more details on this soon.
In the meantime, it is worth knowing that the (old) Terra chain has been renamed Terra Classic, and the (old) Terra token LUNA has been renamed Terra Classic (LUNC).
UST will be renamed TerraUSD Classic (USTC). The ticker on the BitOasis platform will remain the same for the time being for LUNA and UST. The new airdropped Terra token will be called Terra 2.0 (LUNA2.)
Ticker updates at a glance:
BitOasis will make the following ticker updates:
- (Old) Terra ticker – LUNA
- (New) Terra ticker – LUNA2
A note on future ticker changes on BitOasis: Terra (LUNA) will be renamed Terra Classic (LUNC), and TerraUSD (UST) will be renamed TerraUSD Classic (USTC) in the future. Tap here for more information on Terra (LUNA).
BitOasis completes LUNA2 Airdrop
We have facilitated the distribution of the new Terra 2.0 token (LUNA2) to all eligible holders based on Terra’s airdrop allocation logic. At this time, no further action is required from your side. All eligible holders have received an email about the allocated airdrop and once you log in to your BitOasis wallet, your balance will reflect the credit.
Who is eligible for the airdrop?
As a LUNA holder on BitOasis, the number of new LUNA2 tokens that you may have received was determined by the quantity of Terra Classic (LUNC) and TerraUSD Classic (USTC) that you held at the timestamp specified below:
- Pre-Attack Snapshot Timestamp: 2022–05–07 14:59:37 UTC ~ 6:59pm
- Post-Attack Snapshot Timestamp: 2022–05–26 19:59:00 UTC ~ 12:00am
Here is how we calculated the airdrop amount:
Token Balance x Distribution Ratio x 30%
You are eligible for the Terra 2.0 (LUNA2) airdrop if you had LUNA at the Pre-Attack snapshot and/or at the Post-Attack snapshot.
Please note that the remaining 70% of the airdrop will be distributed starting from December 2022 over a period of 24 months, as we receive the Airdrop from Terra.
More on Terra 2.0 airdrop allocation logic
The Terra team published an airdrop schedule for all eligible holders that explains the allocation process for new Terra 2.0 (LUNA2) tokens.
We thank you for your patience and support. Reach us here if you have any questions.
Note: We are distributing the airdrop based on what we have received from Terra. Please ensure that you are 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.
Update June 3, 2022: Deposits and withdrawals are enabled for Terra 2.0 (LUNA2). Please note that LUNA2 withdrawals are taking up to 48 hours to be processed.
