Terra Daily πŸŒ– Profile picture
May 17 β€’ 8 tweets β€’ 5 min read
Some highlights that you need to know about the latest announcement updates from @stablekwon about Terra Ecosystem Revival Plan 2

$LUNA is more than $UST

Read the full proposal here πŸ‘‡
agora.terra.money/t/terra-ecosys…

🧡🧡🧡
@stablekwon 1/ Fork Terra chain into a new chain WITHOUT the algo-stablecoin

The old chain to be called Terra Classic (Token Luna Classic - LUNC)
The new chain - Terra (Token Luna - LUNA).
Both chains will co-exist

This is regarded as the time machine bringing Terra back before the crash
@stablekwon 2/ New Luna will be airdropped across:

β–ͺ️ Luna Classic stakers,
β–ͺ️ Luna Classic holders,
β–ͺ️ Residual UST holders,
β–ͺ️ and Essential app developers of Terra Classic
@stablekwon 3/ Terraform Labs (TFL) wallet πŸ‘‡
finder.terra.money/mainnet/addres…

will be removed from the whitelist for the airdrop

By doing this, the new Terra chain will be a fully community-owned chain
@stablekwon 4/ 1 Billion Luna tokens distribution

β–ͺ️ 25% - Community pool

β–ͺ️ 1% - Essential Developers emergency: 100% unlocked at genesis

β–ͺ️ 4% - Essential developers: 1-year cliff, 4-year vesting

β–ͺ️ 25% - UST holders at the β€œLaunch” snapshot: 10% unlocked at genesis, 90% 2-year vesting
@stablekwon 4.1/ ...

β–ͺ️ 10% - Luna holders (staking derivatives included) at the β€œLaunch” snapshot - 10% unlocked at genesis, 90% 2-year vesting

β–ͺ️ 35% - All bonded / unbonded Luna (bLUNA)
Wallets < 1M Luna: 1-year cliff, 2-year vesting
Wallets > 1M Luna: 1-year cliff, 4-year vesting
@stablekwon 5/ TFL will be initiating a governance proposal for the network fork in the next few hours

if the proposal passes, then it will co-ordinate the fork with validators next Friday 27th May 2022

Check the timeline here πŸ‘‡
@stablekwon Once again, please do not forget to read the full proposal by @stablekwon here πŸ‘‡
agora.terra.money/t/terra-ecosys…

Terra Daily will always be here and support the very best

Let's build every single little thing back up together again for a stronger and braver community

#LUNAtics

β€’ β€’ β€’

Missing some Tweet in this thread? You can try to force a refresh
γ€€

Keep Current with Terra Daily πŸŒ–

Terra Daily πŸŒ– Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @TerraLUNADaily

May 14
Here is the guide on how to transfer and bridge your assets

Follow the attached links and the numbers in the photos
bETH

(1) Go to app.anchorprotocol.com/#/basset
(2) Convert in the pair bETH - webETH
(3) Go to portalbridge.com/#/transfer to bridge your asset to your Metamask wallet (carefully check the two chains)
(4) Go to anchor.lido.fi/unwrap and unwrap to stETH (remember to check the gas price) ImageImageImage
bSOL

(1) Go to app.anchorprotocol.com/#/basset
(2) Convert in the pair bSOL - wsbSOL
(3) Go to portalbridge.com/#/transfer to bridge your asset to your Solana wallet (carefully check the two chains)
(4) Go to solana.lido.fi/and unstake to SOL ImageImageImage
Read 5 tweets
May 12
Based on the theory story shared by @CryptoHarry_ and @JacobCanfield, Terra Daily would love to share it with you here

There will be two (2) types of information: Data and Rumor

Some transactions were made via the OTC so those are supposed to happen in the past few days
@CryptoHarry_ @JacobCanfield 1/ (Rumor) Blackrock and Citadel were the culprits

Citadel is the validator on various chains including Terra (but not now)

Blackrock recently invested in Circle (the institution issuing USDC) - $UST competitor

You can find the announcement here

circle.com/en/pressroom/c…
@CryptoHarry_ @JacobCanfield 2/ (Rumor) They used leverage to borrow $100K $BTC and divide it into 2 proportions:

+ 25% 25K selling BTC to buy UST

+ 75% 75K selling BTC aggressively and starting to short LUNA

These transactions were reported via OTC (Over The Counter) so we assume they are in (rumor)
Read 14 tweets
May 11
Let Terra Daily spend a moment with #LUNAticsΒ 

Besides the price decrease, do you guys have anything to share about the Terra ecosystem?
(you'd better temporarily forget about the price and get through this together)

Please do not hesitate to comment with your thought πŸ‘‡
1/ Everything has its own pros and cons

It is undeniable that Anchor supported UST hodlers during the maybe-downtrend market, especially at an early stage of depositing

19.5% APY was so much attractive in order to save our assets (at least higher than saving at banks)
2/ Though only focused on staking/farming/yield earning incentives, UST also had opened a wider choice for investors among blockchain networks

In the world where we are living, making money is HARD

...

But KEEPING MONEY is much HARDER!
Read 11 tweets
May 11
How has this crisis started?

There are some happen-before events that you need to know

πŸ‘‡

🧡🧡🧡
1/ Somebody sold $285M UST on Curve Finance on 8th May 2022 which led to the depeg of UST decreasing to $0.985

This may have started the war of panic selling UST to make it depeg



2/ Rumours of what had happened on Curve Finance spread rapidly on Twitter

That led to a significant decrease in TVL on Anchor of $2B - $UST withdrawal

LUNA price started to fall on 8th May 2022 as well

Source: terradashboard.com/dashboard
Read 8 tweets
May 11
There are some statistics you need to know about the Total Supply of LUNA and UST

πŸ‘‡

🧡🧡🧡
1/ First of all, please bear in mind that you can mint UST by burning LUNA and vice versa

2/ It can be seen that there are more LUNA coming into the market as UST disappearing simultaneously

However, the report points out that today's figure is smaller than that of yesterday

But the price of LUNA still decreases?

πŸ‘‡

...

Source: terra.smartstake.io/history
Read 6 tweets
May 10
Something you need to know about today's memorable and historic event

[9-10th May 2022]

πŸ‘‡

🧡🧡🧡
1/ $UST is fully algorithmic in the mechanism with $LUNA

Market participants can mint UST by burning an equal amount of LUNA in dollars

Vice versa, 1 UST coin can be burned for the dollar value in LUNA

(Rate 1 UST = $1 LUNA)

Source: @danku_r
@danku_r 2/ The higher demand for UST, the more LUNA decreases in the supply

Moreover, using DApps built on LUNA ecosystem will require the users to pay the gas fee in $LUNA token

(Supply decreases) + (demand to pay gas fee increases) = increase in price of $LUNA
Read 16 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(