Binance Luna 2.0: Binance To List Luna And Participate In Luna 2.0 Airdrop
Binance will launch the new coin shortly once Luna 2.0 and the new chain become online.
Binance has confirmed its support for Luna 2.0, with the exchange preparing to list the cryptocurrency and participate in the airdrop.
Binance was the first to announce its support for the Terra Luna vote result that saw 65% vote in favor of a new chain. The times of this listing have been confirmed now that Luna 2.0 has debuted.
Here's the latest on Binance Luna 2.0, which has been momentarily halted due to the Luna coin meltdown.
Binance Luna 2.0 is now available for purchase.
Following the airdrop, Binance has announced that Luna 2.0 would be listed in its Innovation Zone starting May 31.
The CEX said in a blog post that starting at 5:30 a.m. UTC on May 31, it will introduce LUNA/USDT and LUNA/BUSD pairs to this region.
In comparison to numerous other exchanges, the listing appears to be a little late. Many of the crypto exchanges on the Luna 2.0 list have already integrated the new Luna into their trading platforms.
The Innovation Zone, according to Binance, is a place where "users may trade innovative tokens that may have more volatility and entail a larger risk."
"Terra 2.0 (LUNA) is a new coin that may provide a higher-than-normal risk, and as such may be vulnerable to market volatility," the statement continued.
As part of the Terra Classic chain, Binance has also said that it would continue to support Luna Classic. This will be the Luna coin that was leftover following the Terra 2.0 migration. On May 30, LUNC trading will resume.
Luna 2.0 Airdrop by Binance
Binance confirmed it will support the Luna airdrop prior to the launch of Luna 2.0.
Binance has detailed how it wants to distribute the new Luna to former Luna and UST holders, going beyond Terra's first airdrop announcement. This is how it goes:
- Pre-Attack 1 LUNC = 1.034735071 LUNA
- Post-Attack 1 USTC = 0.02354800084 LUNA
- Pre-Attack 1 aUST = 0.01827712143 LUNA
- Post-Attack 1 LUNC = 0.000015307927 LUNA
Binance already confirmed that it will support the planned Luna 2.0 transition and airdrop in a blog post. It has pledged to provide Luna 2.0 to all qualified customers in the same way as Terra, despite suspending Luna trade.
Following the adoption of the Luna recovery plan for a new chain, Binance sent out a tweet.
"We are working closely with the Terra team on the recovery process, with the goal of providing the best possible treatment to afflicted Binance users," it stated.
More exchanges have verified their support for the new chain since then. Crypto.com, Kraken, and Huobi are among them. However, there is still no Coinbase Luna listing.
Binance's backing for the chain and airdrop will come as a comfort to Terra, given that it is the largest Luna exchange. This is especially important in light of Binance CEO CZ's statements about the planned Luna fork.
CZ weighed in on the recovery suggestions shortly after they were originally mentioned. "Reducing supply should be done by burning, not forking at an ancient date, and abandoning everyone who attempted to save the coin," he stated.
Some proponents of the Luna burn are hoping that Binance would join other crypto exchanges in sponsoring Luna burning through transaction fees. However, there has been no evidence to support this theory.