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Traders Who Bought LUNA After the Crash Are Also Eligible for AirDrop – Do Kwon!

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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May 19, 2022

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After the recent Terra (LUNA) price crash, many just jumped in to accumulate the asset at a very discounted price. However, after Do Kwon, the founder pitched the recovery plan which included an airdrop of the new tokens. This created huge confusion in the crypto space as to whether the people who bought LUNA after the crash are eligible or not. 

However, the founder replying to one of the queries has cleared the confusion that these traders are also eligible for the airdrop. 

On the other hand, the community is constantly asking to burn excess LUNA tokens as they believe it may assist the price to reach at least $1. Moreover, the speculations over the LUNA V2 are also emerging as many speculate that V2 may not help to stabilize the price. Currently, the proposal is still open for voting which is expected to end in the next 6 days from now. 

lunavoting
Source: Terra Station

The above is the current voting stands of the proposal wherein 77.97% of them are currently in favour of the fork. On the other hand, the people who are not in favour are just 0.36%, but the people who voted for ‘No with Veto’ are 20.26%. The people who want the excess LUNA tokens to be burnt are voting here. 

Collectively, the team behind Terra is trying its level best to cope with the current trembled situation. Many investors like Mike Novogratz, CEO of Galaxy Digital now think of LUNA as a ‘Big idea that Failed’. Yet, Delphi Digital who participated in the fundraising organized by Luna Foundation Guard earlier this year acknowledged their mistake and said, 

“ The Fact is we miscalculated the risk of a ‘death spiral’ event coming to fruition. We’ve taken some heat for this over the last week, and we deserve it. The criticism is fair and we accept it,”

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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