Fellow Binancians,
Binance will rename the current Terra network as Terra Classic network and support the Terra network airdrop. LUNA and UST tokens of the Terra Classic network will henceforth be referred to in this announcement as LUNA (old) and UST (old). Further details are shown in the timeline below:
LUNA (old) and UST (old) Trading Suspension:
- LUNA (old) and UST (old) deposits and withdrawals will be suspended on 2022-05-26 at 14:00 (UTC).
- LUNA/BUSD and UST/BUSD spot trading pairs will be suspended and all pending spot orders will be cancelled on 2022-05-26 at 15:00 (UTC).
LUNA (old) and UST (old) Ticker Change to LUNC and USTC Respectively:
- The ticker for the LUNA (old) token will be renamed as LUNC.
- The ticker for the UST (old) token will be renamed as USTC.
LUNC and USTC Trading Resumption:
- Trading will open for LUNC/BUSD and USTC/BUSD spot trading pairs on 2022-05-30 at 09:30 (UTC).
- LUNC and USTC deposits and withdrawals will resume on 2022-05-30 at 09:45 (UTC).
New LUNA Airdrop
- We will distribute the new Terra 2.0 token (LUNA) to all eligible users based on Terra project team’s token distribution plan. The distribution ratio per account will be announced in a separate announcement.
Detailed Airdrop Rules
| Category | Assets Holdings | Snapshot Timing | Recovery Type | Assets Distributed | Distribution Plan |
| Pre-attack | LUNA (old), AnchorUST (aUST) * | 2022-05-07 14:59 (UTC), at Terra Classic block height of 7,544,910 | < 10k LUNA (old) holding | LUNA (new) | - distribute 30% of the total amount received before 2022-05-31 08:30 (UTC); - from December 2022 onward, monthly distribution of the remaining 70% over 24 months. |
| 10k ≤ LUNA (old) holding < 1M | LUNA (new) | - from June 2023 onward, monthly distribution over 24 months. | |||
| ≥ 1M LUNA (old) holding | LUNA (new) | - from June 2023 onward, monthly distribution over 48 months. | |||
| LUNA (old) and UST (old) Staking users | LUNA (new) | - distribute 30% of the total amount received before 2022-05-31 08:30 (UTC); - from December 2022 onward, monthly distribution of the remaining 70% over 24 months. | |||
| Post-attack | LUNA (old), UST (old) | 2022-05-26 16:38 (UTC), at Terra Classic block height of 7,790,000 | Retail users | LUNA (new) | - distribute 30% of the total amount received before 2022-05-31 08:30 (UTC); - from December 2022 onward, monthly distribution of the remaining 70% over 24 months. |
* Users’ staked UST (old) with Binance Staking would then be staked on-chain, with AnchorUST (aUST) as the yield-bearing token, thus UST (old) Staking users on Binance are also covered by the recovery plan.
Please note:
- The pre-attack snapshots will include: LUNA (old) balances in Spot accounts, Margin accounts, Savings accounts, Staking accounts and Coin-Margined Futures accounts, but will exclude USDT-Margined Futures accounts.
- The post-attack snapshots will include: LUNA (old) and UST (old) balances in Spot accounts.
- LUNA (old) and UST (old) borrowed from Margin or Crypto Loans, or LUNA (old) and UST (old) transferred to Spot accounts from these accounts, will not qualify to receive tokens from the airdrop.
- Binance Staking will make a further announcement with more details relating to the airdrop for users with LUNA (old) and UST (old) in their Locked Staking accounts.
- U.S. persons, entities and sanctioned countries are not eligible to receive this airdrop. For more information, please refer to Binance Terms of Use.
For more information, please refer to the following:
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. You are advised that Binance is not responsible for your trading losses.
Thanks for your support!
Binance Team
2022-05-26
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Note: As Terra Classic block height of 7,790,000 was reached earlier than expected, this announcement was updated on 2022-05-27 to reflect the actual time for Terra Classic block height of 7,790,000, when the snapshot was taken.
Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.