Terra Team Confirms LUNA Airdrop Not Distributed Properly, Promises A Solution

Terra Team Confirms LUNA Airdrop Not Distributed Properly, Promises A Solution

It seems that Terra Luna isn’t out of the mud yet. Apparently, the launch of Terra 2.0 and the planned LUNA airdrop to affected holders didn’t work as expected. A lot of users are now complaining that they didn’t get their fair share of the airdrop.

It’s worth noting that after the collapse of LUNA price and the de-pegging of UST from USD, the Terra blockchain was halted and exchanges suspended UST and LUNA transactions. This meant that panicked holders couldn’t withdraw their stash even as the price crashed further. These losses were to be recovered through the LUNA airdrop when Terra 2.0 went live.

Terra Acknowledges Airdrop Problem

In a recent tweet, Terra said that the team is aware of the airdrop problem and promised to find a solution soon. How this will happen is still a subject of speculation. However, the Terra community will still expect Do Kwon and his team to come up with a plan to save the situation.

? Attention $LUNA airdrop recipients ?

We are aware that some have received less $LUNA from the airdrop than expected & are actively working on a solution.

More information will be provided when we have gathered all of the data, so stay tuned.

— Terra ? Powered by LUNA ? (@terra_money) May 30, 2022

First off, some members of the Terra community were initially opposed to the creation of Terra 2.0. They supported an alternative plan to burn the original LUNA tokens and create demand and increase the price. However, this plan was later shelved in favor of Terra 2.0. The original Luna tokens have now been renamed LUNA Classic. The airdrop in question involved the new LUNA minted on Terra 2.0.

Community Losing Faith In Terra

Following the airdrop mishap, there are now fears that the community may lose faith in Terra, even as Do Kwon and Terraform Labs struggle to boost confidence in Terra LUNA. How the airdrop issue is handled will determine the fate of the community’s confidence in Terra.

At the moment, Terra Luna Classic (LUNC) is still struggling to recover its price. It’s now at position 213 in the charts and trading at around $0.00012. Users are still hopeful for recovery.

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