Binance: Terra LUNA Airdrop Is Complete, Users Can Now Access Their Funds In Their Spot Wallets.
Binance has completed the planned Terra LUNA airdrops to LUNC and UST holders affected by the recent price crash. The crypto exchange announced the good news in a tweet.
#Binance completes the Terra $LUNA Airdrop Distribution to Terra Classic $LUNC and TerraClassicUSD $USTC holders.
Users can confirm the receipt of these tokens in their spot wallets via the 'Distribution' page in the 'User Center'.
Full details ⤵️https://t.co/FNmpSuA8kl
— Binance (@binance) May 31, 2022
The airdrop was conducted after the launch of Terra 2.0 on May 27. Prior to that, pre-attack and post-attack snapshots of users’ accounts on the exchange were done. The snapshots were then used to determine the number of new LUNA tokens distributed to each user.
How To Check For Airdropped Tokens On Binance
Binance also gave out a simple procedure on how users will check for their tokens. On the distribution page, users will be able to see their new LUNA tokens by unchecking the “hide 0 balances” option on their spot wallets.
Make sure to uncheck 'Hide 0 balances' to view your $LUNA tokens in your Spot Wallets.
Deposits for $LUNA tokens have been enabled and withdrawals will be open at 6am UTC, May 31 2022.
— Binance (@binance) May 31, 2022
LUNA Deposits Enabled
Binance also announced that users will now be able to deposit their LUNA tokens on the exchange. Withdrawals will be re-enabled on June 1st. Terra LUNA and UST transactions had been suspended following the sudden price crash of the tokens. The launching of Terra 2.0 came as a relief to users as they got airdrops to compensate for their losses.
However, Binance has clarified that the LUNA airdrop will not be available to people in the United States or other sanctioned countries. The exchange has had legal issues that have threatened to keep it out of the US market. It’s not yet clear how US users using the exchange will receive their compensation. Terra had advised users to transfer their token to the Terra station and await the airdrop.
Binance List Terra 2.0 LUNA
Besides supporting Terra 2.0 and LUNA airdrops, Binance also starts trading new LUNA on its trading platform, although the token will be initially listed in the innovation zone. The exchange is one of the various crypto platforms that have expressed support for Terra 2.0 and the new LUNA.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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