The new Terra Blockchain Phoenix-1 has been operational since Saturday morning, May 28, 2022, and on that day, millions of new LUNA tokens were distributed to Luna Classic (LUNC) and Terraced Classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra Token owners “received lower LUNA than expected,” and that developers are “actively working on a solution.”
Terra Luna suffers from airdrop miscalculation error – devs plan to offer a solution
On Monday, May 30, 2022, Bitcoin.com News reported on the new Phoenix-1 blockchain and native token called LUNA. The old series has been rebranded and is now known as Terra Classic, and the original token of the old series has been renamed to “Classic”. Luna Classic (LUNC) and Terraced Classic (USTC) are still listed as tradable crypto assets on many exchanges. The new LUNA token jumped more than 85% in value on Monday, reaching a high of $11.45 per unit, but on Tuesday, LUNA is trading at less than $10 per unit.
LUNA is still up by over 40% during the last 24 hours and has a daily trading volume of $941 million today. LUNA has a market valuation of approximately $2.037 billion at the time of writing and Bitcoin (BTC) is the top trading pair of the coin with 55.22% of LUNA’s 24-hour trades. BTC is followed by USDT (32.98%), USD (5.82%), EUR (4.12%), and USDC (1.42%). The Terraced Classic (USTC) is up 32.1% on Tuesday, but the Luna Classic (LUNC) is down 17.4%. Furthermore, on Tuesday morning (ET) Terra Developers revealed that the airdrop did not go as planned. It seems that some users received low LUNA during distribution.
Terra Team’s official Twitter page They say,
We know that some have got lower LUNA than expected and are actively working on solutions. More information will be provided once we have collected all the data, so stay tuned.
Terra Token owners are not happy with the Phoenix-1 distribution plan, with many confirming receiving less than expected and some claiming they have received nothing
Terra Developers’ social media posts on Twitter are flooded with complaints from users and people confirm this The fact is that they didn’t get what they expected. some tera users complained they nothing found, while other Terra Token owners disclosed their public addresses to confirm that they had received less airdrops than they should have, based on the Phoenix-1 distribution plan. Some individuals criticized the airdrop delivery plan and snapshot date.
“This airdrop should have been done in 3 phases,” said one person. wrote on Tuesday. “Between May 7 and 12, buyers’ money was reset and the airdrop didn’t work because the number of Luna they received was low. Those who trusted Do Kwon’s tweet saw it at a high price Bought.
Other users complained about third parties and popular crypto exchanges taking their new LUNA tokens hostage and some Asked Developers to contact some exchanges. Also some users on social media made a ruckus Regarding non-custodial wallets that do not currently support the Phoenix-1 series. It is safe to say that there are a significant number of Terra Token owners. not happy How was the airdrop deployed? Since the Terra developers revealed that there was a problem with AirDrop, the team has yet to resolve the issue.
Why do you think the LUNA airdrop is not doing well and people are getting less or nothing than expected? Let us know what you think about this topic in the comment section below.
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