The collapse of Terra’s financial ecosystem shocked the crypto market, leaving users unprepared for the rapid devaluation of LUNA and UST. After extensive community discussions and voting, Terra has approved a proposal to launch a new chain—Terra 2.0. The final version of Terra Core will go live on May 27, distributing new LUNA tokens to LUNA Classic stakers, holders, remaining UST holders, and Terra Classic developers. Major exchanges like Binance and BYBIT will facilitate the airdrop.
According to Terra’s governance site, the snapshot for Terra 2.0 will occur at block height 7,790,000, estimated around May 27, 03:59 UTC. The genesis supply will be ~116.7M tokens, increasing to 182M after one year.
Airdrop Eligibility: Snapshot Timelines and Token Allocation
Pre-Attack Snapshot
- Time: May 7, 22:59:37 UTC (Block 7,544,910)
Allocation:
- ≤10K LUNA: 30% unlocked at genesis; 70% vested over 2 years (6-month cliff).
- ≤500K aUST: Same as above.
- ≤1M LUNA: 1-year cliff, 2-year linear unlock.
1M LUNA: 1-year cliff, 4-year linear unlock.
Post-Attack Snapshot
- Time: May 27, ~03:59 UTC (Block 7,790,000)
- Allocation: 30% unlocked at genesis; 70% vested over 2 years (6-month cliff).
Exchange Support for Terra 2.0 Migration
Binance
- LUNA/UST renamed to LUNC/USTC.
- Trading pauses: May 26, 23:00 UTC.
- Resumes: May 30, 17:30 UTC (LUNC/BUSD, USTC/BUSD pairs).
OKX
- Supports airdrop and migration.
- Distributes 100% of received airdrop tokens to users.
FTX
- Pauses LUNA/UST markets on May 26, 20:00 UTC.
- Eligibility based on snapshot balances.
Huobi
- Supports migration; airdrop details post-snapshot.
Bybit
- Renames LUNA/UST to LUNC/USTC on May 26, 06:00 UTC.
- New trading pairs: LUNC/USDT, USTC/USDT.
Gate.io
- Halts LUNA/UST services on May 26, 16:00 UTC.
- Distributes airdropped tokens proportionally.
FAQ
Q1: When will Terra 2.0 launch?
A: Expected on May 27, post-block 7,790,000.
Q2: How do I claim my airdrop?
A: Hold LUNA/UST on supported exchanges during snapshots.
Q3: What’s the vesting schedule?
A: 30% unlocked immediately; 70% vested over 2 years (6-month cliff).
Q4: Will exchanges charge fees for airdrops?
A: Most (e.g., OKX, Binance) distribute tokens without fees.
Q5: Can I trade LUNC immediately after migration?
A: Yes, but check exchange-specific timelines (e.g., Binance resumes May 30).
Q6: Is Terra 2.0 a fork?
A: No—it’s a new chain with a fresh token distribution.
👉 Stay updated on Terra 2.0 developments
Note: Always verify details with your exchange, as policies may vary.