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LUNA 2.0 Distribution Statement

by Kamil S

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Coinmetro has received the LUNA (LUNA 2.0) airdrop, we have a portion available now and a larger portion which is vested.

The safety of our users has always been the top priority at Coinmetro. Due to the series of events that caused the recent demise of Terra (LUNC & UST), we feel that immediately listing the new chain may cause more confusion with the real potential of our users losing money. Our responsibility is to protect you and the community.

​⁠There are also certain technical issues which may arise if we attempt to support LUNA at this time and we would be taking a major risk to all our users. Instead, to be fair to all the LUNA hodlers on our platform, we have come up with the following solution.

The Basics

  • The distribution will be made in XCM – Coinmetro Token
  • CoinMarketCap will serve as a price reference
  • Users will be credited by 12 June

More Details Below:

In an attempt to make the conversion rate fair, we will take the index price of LUNA on CoinMarketCap at 14:00 UTC on 7 June and convert it to the XCM at a rate of 0.60 EUR per XCM (i.e., if LUNA is worth €6.00, our users will receive 10 XCM per LUNA). Users who qualify for the airdrop can expect the XCM to appear on their account by 12 June.

If required, XCM can be sold and exchanged into another asset. You can read about all the benefits of hodling XCM here.

What are we able to distribute?

  • Currently only the native LUNC (Terra Classic) and UST share, nothing on ERC (We had a part of the holdings on ERC). This will depend on a community vote down the line and the expectation is that at some point, Terra will make a decision.
  • Pre-attack: only LUNC and Staked UST
  • Post-attack: only UST (non staked) and LUNC

Please note – Coinmetro may support LUNA in the future, depending on the success of the attempt to continue with the development of this new coin.

With regard to the vested LUNA, as there is some uncertainty around how this may be distributed, we can only assure our community that we will distribute it in LUNA if we have LUNA listed at that time. Otherwise, we will communicate another statement presenting a reasonable and fair solution in the event this situation comes to fruition.

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