Here’s How Wrapped Luna Classic (wLUNC) Holders on Ethereum Will Receive LUNA 2.0 Airdrop, Including Coinbase Users

For the Terra community members who have been anticipating the airdrop of LUNA 2.0 to Wrapped LUNA (wLUNC) holders on the Ethereum network, FatMan is here with the most recent update.

In a thread of tweets on the 7th of June, FatMan, the pseudonymous member of the Terra Research Forum that provides research, updates, and analysis on the Terra situation as it unfolds, stated that all the LUNA variant holders, including Wrapped LUNA Classic on the Ethereum network, will receive the LUNA 2.0 airdrop like others, but at an unspecified date.

According to FatMan, the Terra team of developers is currently indexing all the blockchains that power the LUNA variants.

The Terra community whistleblower pointed out that the airdrop will be based on the snapshot blocks from the original proposal. This implies that whoever buys wLUNA now won’t receive the LUNA 2.0 airdrop.

FatMan tweeted, “Since I get asked about wLUNA so much, here’s an update for everyone. All of these LUNA variants (including Wrapped LUNA Classic on Ethereum) will receive the LUNA 2 airdrop at a later date – Terra devs are currently indexing all of these chains – it’s hard work!

“The airdrop will be based on the snapshot blocks from the original proposal, so buying wLUNA now will not entitle you to the airdrop. Holding wLUNA does *not* entitle you to 1:1 redemption of new LUNA. Rather, you can sell wLUNA on Uniswap (roughly worth the same as LUNC).”

wLUNC Holders On Coinbase Will Receive the Airdrop

According to a user who reacted to the update, “Most of the $wLuna is held by @coinbase and they’re not part of the airdrop.”

In response to the user’s concern, FatMan said all wLUNA holders on Coinbase are part of the airdrop program. However, the distribution of the tokens solely depends on Coinbase’s decision.

FatMan tweeted, “wLUNA holders on Ethereum will get the airdrop. This includes Coinbase. Whether Coinbase decides to pass their airdrop onto users or not is something that only they can answer.”

What is Wrapped Luna Classic (wLUNC)?

Wrapped Luna is a token designed to represent Luna on the Ethereum blockchain. It’s a different ERC-20 token made to track the value of Terra (LUNA).

Additionally, wLUNC is designed to enable Luna holders to trade, hold, and take part in decentralized finance (DeFi) on the Ethereum network.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.