The Airdrop That Shook the Crypto World
On a sunshiny Tuesday, Binance, the crypto exchange giant, announced it had successfully finished the first phase of an airdrop involving the new Terra Luna (LUNA) tokens. The lucky recipients? Holders of Terra Luna Classic (LUNC), TerraUSD (USTC), and AnchorUST (aUST) got a gift they didn’t see coming—well, at least not all of them did!
Breaking Down the Distribution Mechanics
The distribution wasn’t just a flip of a coin; it was carefully calculated based on two snapshots of token holders taken at crucial block heights: 7,544,910 pre-attack and 7,790,000 post-attack. It’s like a blockchain saga that had more twists than your favorite soap opera!
- Pre-Attack Ratios:
- 1 aUST = 0.01827712143 LUNA
- 1 LUNC = 1.034735071 LUNA
- Post-Attack Ratios:
- 1 USTC = 0.02354800084 LUNA
- 1 LUNC = 0.000015307927 LUNA
Value Fluctuations: The Rollercoaster Ride
Before the infamous “attack,” one aUST was cruising at a value of $1.24 while LUNC was on a high at about $75. Fast forward to the post-attack reality, and those numbers plummeted to $0.0632 for USTC and $0.0001434 for LUNC. It’s a classic case of ‘what goes up must come down’—but dang, did they crash hard!
A Little Something for Stakers
But wait, there’s more! Users who had staked USTC via Binance before the big boom were also in on the airdrop action. Their USTC was sitting pretty on-chain, yielding magic as aUST. However, this staking bonanza didn’t last long, ending just a month after the Terra Luna ecosystem hit rock bottom.
The Bumps in the Road
Even with the airdrop, some crypto enthusiasts seeking their fair share from self-custodial wallets were left scratching their heads. Reports surfaced that many received less LUNA than they anticipated. It’s like showing up to a party only to find there’s no cake. Terra developers are currently on a support mission to rectify these discrepancies.
Crypto Chaos Continues
Oh, and did we mention? On the same day of the airdrop excitement, a LUNC pricing error triggered a chaotic exploit that drained the Mirror protocol of its funds. Talk about a double whammy! The crypto space sure knows how to keep things spicy.
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