{"id":455635,"date":"2022-05-31T20:30:00","date_gmt":"2022-05-31T17:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-staking-completes-initial-phase-of-terra-2-0-airdrop-as-ecosystem-issues-persist\/"},"modified":"2022-05-31T20:30:00","modified_gmt":"2022-05-31T17:30:00","slug":"binance-staking-completes-initial-phase-of-terra-2-0-airdrop-as-ecosystem-issues-persist","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-staking-completes-initial-phase-of-terra-2-0-airdrop-as-ecosystem-issues-persist\/","title":{"rendered":"# Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem issues persist"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a287a071b49e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a287a071b49e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-staking-completes-initial-phase-of-terra-2-0-airdrop-as-ecosystem-issues-persist\/#%E2%80%9D_Binance_Staking_completes_initial_phase_of_Terra_20_airdrop_as_ecosystem_issues_persist_%E2%80%9C\" >&#8221; Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem issues persist  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Binance_Staking_completes_initial_phase_of_Terra_20_airdrop_as_ecosystem_issues_persist_%E2%80%9C\"><\/span>&#8221; Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem issues persist  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvN2Y2ZmU1N2ItYWRmMy00N2E3LWEyYWEtNGM4MjZjNmNhOGI4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>On Tuesday, cryptocurrency exchange Binance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/947344465a6b4263b2b38edb88e37a5c\">said<\/a> it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST).\u00a0<\/p>\n<p>The distribution was based on &#8220;pre-attack&#8221; and &#8220;post-attack&#8221; snapshots of token holders taken at LUNC block height 7,544,910 at 14:59:37 on May 7, 2022 UTC and block height 7,790,000 at 16:38:08 on Thursday, respectively. As told by Binance, users <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/d044a6742e484b77a170111460b0eed3\">received<\/a> new LUNA tokens based on the compensation scheme outlined by Terra developers:\u00a0<\/p>\n<ol>\n<li>Pre-Attack 1 aUST = 0.01827712143 LUNA<\/li>\n<li>Pre-Attack 1 LUNC = 1.034735071 LUNA<\/li>\n<li>Post-Attack 1 USTC = 0.02354800084 LUNA<\/li>\n<li>Post-Attack<strong> <\/strong>1 LUNC = 0.000015307927 LUNA<\/li>\n<\/ol>\n<p>At the pre-attack time, one aUST had a value of $1.24 while one LUNC was worth <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $75. At the post-attack time, one USTC and one LUNC were worth $0.0632 and $0.0001434, respectively. At the time of publication, each LUNA token is worth $9.25. Regardless of timestamp, approximately 30% of LUNA tokens were distributed on the spot, while the remaining 70% will be <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/c52fa3c686be4b2b9d5df50de15847ec\">distributed<\/a> monthly in a vesting schedule\u00a0starting later this year, in accordance with Terra&#8217;s reformation plan.\u00a0<\/p>\n<p>Additionally, users who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.binance.com\/en\/support\/announcement\/9c8abd90df5d4890822e6988f7dc8f0c?ref=AZTKZ9XS&amp;utm_source=BinanceTwitter&amp;utm_medium=GlobalSocial&amp;utm_campaign=GlobalSocial\">staked<\/a> their USTC via Binance Staking pre-attack were also eligible for the airdrop. As it turns out, users&#8217; USTC assets were staked on-chain, with aUST as the yield-bearing token. Binance launched USTC staking only a month prior and ended the program shortly after the implosion of the Terra Luna Classic ecosystem.\u00a0<\/p>\n<p><strong><em>Related: Luna Classic pricing error leads to Mirror Protocol exploit<\/em><\/strong><\/p>\n<p>Despite the successful airdrop on Binance, it appears that the token distribution did not go as smoothly as expected for crypto enthusiasts holding Terra assets in self-custodial wallets. Terra developers <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/terra_money\/status\/1531410663674888192\">said<\/a>\u00a0that some users received less LUNA than expected from the airdrop and are actively working on a solution. The same day, a LUNC pricing error appears to have caused another exploit that potentially drained Mirror protocol, which is built on Terra, of all its funds.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/binance-staking-completes-initial-phase-of-terra-2-0-airdrop-as-ecosystem-issues-persist\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance Staking completes initial phase of Terra 2.0 airdrop as ecosystem issues persist &#8220; On Tuesday, cryptocurrency exchange Binance said it completed the first stage of airdropping new Terra Luna (LUNA) tokens to holders of Terra Luna Classic (LUNC), TerraUSD (USTC) and AnchorUST (aUST).\u00a0 The distribution was based on &#8220;pre-attack&#8221; and &#8220;post-attack&#8221; snapshots of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455636,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvN2Y2ZmU1N2ItYWRmMy00N2E3LWEyYWEtNGM4MjZjNmNhOGI4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[84148,74867,75014,74894,74863,74868,122378,4965],"class_list":["post-455635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-airdrop","tag-altcoin","tag-binance","tag-blockchain","tag-cryptocurrencies","tag-defi","tag-terra","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455635","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455635"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455635\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455636"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}