- Terra will have its native staking token, LUNA, airdropped to its community on May 27.
- Users can undelegate, redelegate, and delegate their LUNA while it’s vesting and being staked.
- They can keep their vested LUNA staked after their cliff hits to continue earning staking rewards.
LUNA shared the announcement via a Twitter post:
With the passing of Prop 1623 earlier today, the #LUNAtic community is gearing up for the next chapter in Terra’s story 📖
— Terra 🌍 Powered by LUNA 🌕 (@terra_money) May 26, 2022
Wu Blockchain also posted the update on its Twitter account:
Terra 2.0 will have its native staking token, LUNA, airdropped to its community, as described in Proposal 1623. Upon Genesis on May 27th, 2022, eligible holders of LUNC, USTC and aUST will be airdropped LUNA on the new chain. Read more: https://t.co/nANLD0MEb6
— Wu Blockchain (@WuBlockchain) May 26, 2022
Based on the type of tokens one had on the Terra Classic chain, quantity of tokens and durations for which the tokens were held, one can receive the quantity of LUNA. Eligibility criteria for the LUNA airdrop at the Pre-Attack snapshot is- LUNA and less than 500k aUST. At the Post-Attack snapshot, the eligibility is- LUNA and UST.
Distribution and vesting of airdropped LUNA is based on the token type and quantity of the wallet besides the snapshot it exists in.
At Genesis, 30% of the LUNA airdrop will be available instantly to Pre-Attack users who have either less than 10k LUNA in their wallets or UST in Anchor. Post-Attack users must have any quantity of either LUNA or UST or both.
Airdropped, vesting LUNA will be staked to Terra validators to protect network security. Staking awards on vesting LUNA can be earned right from the staking point. These rewards can be claimed at any point.
Until at least 6 months, after the LUNA unlock at Genesis, users won’t get additional vesting LUNA. Users looking forward to liquid LUNA when their cliff hits will have to undelegate their staked, vested LUNA at least 21 days before the first day of their cliff.