Terra will airdrop its new native token, LUNA, to its community based on the passed proposal 1623. On Genesis Day, May 27, 2022, eligible LUNC, USTC, and aUST holders will receive LUNA airdrops on the new chain.

Airdrop snapshot time

The number of LUNA airdrops a user will receive will depend on the type of tokens they hold on the Terra Classic chain, the timing of holding those tokens (based on snapshots before and after the attack), and the number of tokens they hold.

Note: The original Terra is Terra Classic, and the original LUNA is LUNC.

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Table 1: Snapshot time and block height before and after the attack

Airdrop Rules

In the snapshot before the attack, users who meet the following rules can get LUNA airdrops:

• LUNA (including staking derivatives)

• Less than 500k aUST (UST deposited into Anchor)

In the snapshot after the attack, the following rules need to be met:

• LUNA (including staking derivatives)

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Table 2: Air Investment Eligibility and LUNA Release Schedule for Eligible Users

Airdrop distribution time

As shown in Table 2 above, the allocation and release time of the airdrop LUNA depends on the type and amount of tokens in the wallet, and whether the user holds the relevant tokens before or after the attack.

First airdrop release date: Genesis — May 27, 2022

example

example

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Table 3: Example - Alice

Alice will receive 30% of her airdrop at genesis on May 27th. After that, the remaining airdrops will be locked for 6 months (cliff), and then linearly released to the same wallet address within two years.

Airdrop LUNA release rules

During the genesis phase, vesting LUNA airdrops will be automatically staked to Terra validators to protect network security. Users will be able to stake rewards through their vesting LUNA and can claim these staking rewards at any time. Users can also unstake, restake, and stake their LUNA while vesting and staking. This ensures that users can decide which validators they get LUNA staked with.

After the airdrop is issued during the genesis phase, the next airdrop will be issued at least 6 months later. After 6 months, airdrops will be distributed to users by block. If users want to obtain negotiable LUNA immediately after the 6-month lock-up period, they need to cancel the entrustment of their pledged vested LUNA at least 21 days before the first day of the 6-month cliff. Users can also maintain their vested LUNA stake after the cliff to continue earning staking rewards.

Supported assets, chains, bridges and CEX

While we want to airdrop LUNA to as many qualified users as possible, the following assets may not be covered due to technical issues:

• UST or LUNA bridged from Terra;

Those UST and LUNA that are transferred out through the cross-chain bridge need to be transferred back to the Terra chain before the snapshot, otherwise they will not be recognized.

• UST or LUNA in some protocols on Terra may not be recognized;

Assets on all protocols listed by DefiLlama can be identified, but other protocols cannot be guaranteed.

• UST or LUNA on CW3 multi-signature contract

Most USTs and LUNAs in the CW3 multisig contract will be taken into account, but there may be some exceptions that may not be covered.

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Table 4: List of chains, bridges and CEXs supported by Genesis Airdrop, this table will be updated continuously

About Terra 2.0

As the community migrates to the new chain, most Terra Classic projects will join Terra 2.0, including:

Astroport

Prism

RandomEarth

Spectrum

Nebula etc.

With interoperability in mind, Terra will be the gateway to the wider Cosmos ecosystem and beyond.

calculation method

Precautions

The airdrop ratios described below are predictions and will only be finalized upon reaching block height 7790000 of the "after attack" snapshot (estimated 19:59:51 UTC on May 26, 2022).

Cross-chain assets, such as Wrapped UST on ETH/MATIC/BSC, will be put on hold and locked in Genesis' community pool. Funding distributions can only be made after genesis.

Eligible total amount of UST = total amount of UST - total amount of UST in TFL wallet

Qualified LUNC total amount = LUNC total amount - TFL wallet LUNC total amount

Airdrop ratio of LUNC holders before the attack = LUNA distribution amount / total eligible LUNC before the attack

LUNA allocation: 350,000,000

Total amount of eligible LUNC before the attack: 369,286,757.29

The airdrop ratio is expected to be: 0.9477729517

That is, if the user held 1 LUNC in the snapshot before the attack, they will receive 0.9477729517 LUNA on the new chain.

Airdrop ratio of LUNC holders after the attack = LUNA allocation / total amount of LUNC after the attack occurred

LUNA allocation: 100,000,000

Estimated total eligible LUNC after the attack: 6,903,710,288,128.99

The airdrop ratio is expected to be: 0.00001448496473

That is, if the user holds 1 LUNC in the snapshot after the attack, they will receive about 0.0000144781783 LUNA on the new chain.

Airdrop ratio of UST holders after the attack = LUNA allocation / eligible UST supply after the attack

Total LUNA allocation: 100,000,000

Estimated total UST after eligible attacks: 8,389,006,002.21

The airdrop ratio is expected to be: 0.01788054508

That is, if the user holds 1 UST in the snapshot after the attack, they will receive about 0.01788054508 LUNA on the new chain.

The LUNA and UST assigned to an end user are calculated as the sum of the following three formulas:

Airdrop ratio of LUNC holdings before the attack x user’s LUNC holdings before the attack

Airdrop ratio of LUNC holders after the attack x user's LUNC holdings after the attack

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example

Example of user assignment

User A allocation = (0.9477729517 x 10) + (0.00001448496473 x 100) + (0.01788054508 x 1000) = 27.36 LUNA