Terra 2.0 (LUNA) was launched by the developers behind the Terra Classic (LUNC) – formerly Terra – crypto and TerraClassic USD (USTC) – formerly TerraUSD (UST) – stablecoin on May 27 in an attempt to move on from the sudden crash that hit both of their tokens, costing investors millions of dollars. Terraform Labs intended to repay initial LUNA token holders by airdropping fresh LUNA tokens to recompense them for their losses. Despite their attempts, it appears that the token distribution did not go as planned. Many LUNA 2.0 token holders rushed to social media to complain that they were not given an equivalent number of LUNA 2.0 tokens as their previous holdings. Terraform Labs stated stated in a tweet on May 31 that they are working on a solution to the problem and that they would share more details once they have gathered all of the data relevant to the uneven token distribution.
📣 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
One user claimed to have owned $300,000 in LUNA despite only receiving $59 in the current token generation.
Lost $300k in $LUNA
Got an airdrop of $59
Thank you do kwon and team
— Ash WSB (@ashwsbreal) May 29, 2022
After losing $50,000 in LUNA, another user claimed to have gotten only $112 in the airdrop.
Lost 50k on $LUNA and got an airdrop of $112
Prefer the complete rug. That small airdrop is like extra needle salt in the wound
— cevo (@cryptocevo) May 30, 2022
In a message on their official Twitter account, Terraform Labs stated that their airdrop may not have delivered the desired quantity of tokens. Many token holders who took part in the airdrop today have far less LUNA 2.0 tokens than they did when the original LUNA coin was released. This news comes after rumours surfaced that numerous major players were involved in the original TerraUSD (UST) token losing its peg, causing the price of Terra Classic to plummet to below one cent. It also comes amid reports that Terraform personnel are being investigated in South Korea following the collapse of the UST stablecoin.
Read more:
- Scam Alert: Fraudsters distributing Luna 2.0 to Vitalik Buterin, Justin Sun, and the wallet of 3AC foundation
- Huobi, Binance, and Bybit all set to support Terra LUNA 2.0
