Luna v1 to Luna v2 help

On the 27th will our current Luna in our wallets convert to Luna v2? Or is Luna v2 an airdrop of totally separate Luna and we’ll still keep our current Luna?

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What time does Luna v2 happen?

(sorry to add another post, it doesn’t let me edit my first one)

Both Luna V1 and V2 will co exist but on different chains. It seems like we will be able to use the same terra station wallet, but we will have to switch from one chain to the other somehow. We will get more info when the new chain launches on May 27.


Also see PSA: Block 7,790,000 Estimated Time - General - Terra Research Forum
for what time.

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I am so confused ??? So I held (and still do) Anchor. Also I held UST as one half of a Liquidity Pool and LUNA as one half of another Liquidity Pool (both on Osmosis), and I have some LUNA with Newton (an exchange) … do I need to do anything or do I just sit tight and my share of the airdrop/distribution will just show up???

Can’t say for sure about Anchor as I never used it but IIRC DK said Anchor users will get a portion of the airdrop (with a low cap, however). You could read his proposal again.

As for Osmosis, good news, it will be airdropped.
Can’t say for Newton though, although DK seems pretty sure he’s talking to most exchanges and getting positive answers except Coinbase, if you check his twitter.

Nothing else to do now. If you need to do anything you will hear something from this forum or DK’s twitter.

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Appreciate your comments/input. Thanks.

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I’m so sorry to hijack your thread (new account so they won’t let me post) but does anyone know how I might be affected if I sold all my Luna and then bought it back again like 10 minutes later? I had bought Luna before the stall and held it through the crash, then a day or two later was in total autopilot mode thinking I was selling all my SOL when in fact I sold all my LUNA. I quickly realised what I’d done and bought it back again but I’m curious how this might impact me when it comes to the drop.

Thanks and again, sorry for the bad forum etiquette - just don’t know where else to turn with this :slight_smile:


I have reread the proposal (Twitter), and have one more question. A close friend held UST in a Liquidity Pool on Trader Joe. Do you have any insight on this? Will Trader Joe be included in the airdrop (it is not one of the protocols listed on DeFi Llama, but may or could be one of the “few others”). Your thoughts?

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Don’t quote me on this, but in DK’s second proposal, there is a part that says:

Disclaimer : Please be aware that due to technical constraints, it is not possible to include all UST and LUNA holdings on Terra and other chains in the snapshots mentioned. Assets that may not be included:

  • UST or LUNA bridged off of Terra

If I remember correctly, Traderjoe is a Dex protocol on the Avax chain, is it not? So Luna or UST bridged into AVAX chain will not be eligible for any airdrops is my understanding.

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My Luna is in Trust Wallet. Is that good? Do I have to move them to Terra Station?

@k_winter The snapshot requirements don’t mention you having to hold Luna in both snapshots, which is what most airdrops require. It’s honestly not an optimal design although I imagine it’s because of the technical restraints… but that’s what many people here are upset about, they’re unhappy that people that sold off, including the whale VC’s like some capitals who preserved 80% of their capital, are getting double dips.

So I think you’re good as long as you held Luna on :

Terra Classic block 7544910 (2022.05.07 23:00:04+08:00)

as mentioned by DK.

@WarGreymon Yes you’re good. Trustwallet is a non-custodial wallet AFAIK(you hold the mnemonics). But in order to interact with Luna blockchain you might need to import your 12/24 word mnemonic into a new TerraStation Wallet as Trust Wallet does not have that functionality. Note that the wallets aren’t really wallets… they’re just interfaces to view the blockchain, so no need to send.
But if you prefer sending over inserting your mnemonics again anywhere, of course sending is fine too.

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Thanks for the reply, really appreciate it. I guess we’ll see! :slight_smile:

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Frustrating to say the least. Thanks

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Just to add on to what powerslime said…

You just sit tight, Anchor and Osmosis are included. However, I don’t see Newton on the list, so not sure on that one.

This wouldn’t matter as long as you are holding it at the time of the snapshot.

I have not seen it mentioned specifically. However, it is mentioned that Wormhole assets on Avalanche could be eligible but only distributed at a later date. Not sure if that includes any in LPs on TraderJoe or not. Might be safer to move back to Terra Station, but cutting it close on time now.


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@powerslime Thank you for all your advice!

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I had big Luna-UST LP on Osmosis too, worth a lot of money… So we get both parts covered in airdrop, UST same as Luna? Cause I read only aUST pre attack is being refunded…

Also WHERE will they airdrop these coins, where will we get Luna 2.0?? If we held on Osmosis, IBC transfers dont work for a while now… How will they drop it there?! Or they drop it to Terra station wallets? Thanx

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We don’t know yet about how the value of our IBC assets will be considered. As I posted in my link above, DK did answer to some Cosmos devs that he’ll include Osmosis/Sif/Crescent pools in the airdrop but he didn’t specify how he’s doing the math. I held some Luna-Osmo, Osmo-UST and also some more liquidity at Crecent DEX. I assume it’ll show up in our Keplr under the ‘Terra’ pulldown menu, or there will be a process to claim it with Terra Station; I claimed several airdrops like VALK/MIR/PSY with Terra station and it was simple.

I wouldn’t worry about the claiming part as it’ll probably be pretty straightforward and the Cosmos devs kind of blackmailed DK into giving us this airdrop (they threatened that they’ll blacklist Luna2 from IBC lol).

The bigger concern is that the airdrop won’t be a reimbursement and will be pretty small in value actually. As a fellow investor I’m just answering some questions on the forum but I don’t have my hopes up… perhaps less than 5% of my holdings in Luna/UST initially, might go crazy if Luna2 takes off in several years which I’ll be forced to watch because of the vesting period.

Yeah, exactly… Whatever whereever we get the airdrop, we have to wait for 2 years… Even that 30% we get right away, it will be staked If I understood correctly.

So basically lets hope for 100% refund on our LPs, for both parts Luna-UST and lets hope it will be worth something in June 2024 haha

V čet., 26. maj 2022 07:56 je oseba MD.PHD via Terra Research Forum <[email protected]> napisala: