Bitfinex Distributes 70% of Terra Luna Airdrop: All You Need to Know

On April 4th, according to an official announcement, Bitfinex announced that the remaining 70% of Terra Luna (LUNA2) airdrop distribution had begun. Previously, on May 26, 2022 and May 28, 2022, Bitfinex announced that the first 30% of LUNA2 air drops would be distributed to eligible holders of Terra Luna Classic (Luna) and TerraUSD (TERRAUST).

Bitfinex will begin distributing the remaining 70% of LUNA2 airdrops

Introduction

On April 4th, Bitfinex, one of the leading cryptocurrency exchanges, announced the distribution of the remaining 70% of Terra Luna (LUNA2) airdrop. This comes weeks after the announcement of the first 30% distribution of LUNA2 airdrops for holders of Terra Luna Classic (Luna) and TerraUSD (TERRAUST). In this article, we’ll discuss the significance of the airdrop and everything you need to know about it.

What is a Terra Luna airdrop?

A Terra Luna airdrop is a distribution of a cryptocurrency token to holders of another cryptocurrency. Terra Luna is a decentralized blockchain cryptocurrency that is designed to enable fast and affordable payments. LUNA2, on the other hand, is a new token that was recently introduced to the crypto market and is aimed at boosting liquidity on Terra network.

Why is the Terra Luna airdrop significant?

Airdrops are becoming an increasingly popular way for cryptocurrency developers and exchanges to reward their users. The Terra Luna airdrop is significant because it offers a chance for holders of Terra Luna Classic and TerraUSD to receive free tokens. Additionally, it is a way for Bitfinex to incentivize users to use their platform and hold their current assets.

How to participate in the Terra Luna airdrop

To participate in the Terra Luna airdrop, you will need to hold Terra Luna Classic (Luna) or TerraUSD (TERRAUST) on the Bitfinex platform. The first 30% of the airdrop was distributed to eligible holders of these tokens in May 2022. The remaining 70% distribution of LUNA2 has now begun and will be distributed to eligible holders.

What are the benefits of holding LUNA2?

Holding LUNA2 offers various benefits that are designed to incentivize holding and using it on the Terra network. Firstly, it offers better liquidity on the platform, which could lead to higher demand and value for the token. Additionally, LUNA2 is required to participate in governance of the Terra network, which means holders have voting rights on network upgrades and protocol changes.

Conclusion

The Terra Luna airdrop is an exciting development for users of the Bitfinex platform and the broader crypto community. It offers a chance for holders of Terra Luna Classic and TerraUSD to receive free tokens, incentivizes users to hold and use their assets on the platform, increases liquidity on the network, and gives holders a say in the network’s governance.

FAQs

1. When will the distribution of the remaining 70% of LUNA2 be complete?
The distribution of the remaining 70% of LUNA2 started on April 4th, 2022, and is expected to continue until all eligible holders of Terra Luna Classic and TerraUSD have received their tokens.
2. How do I know if I am eligible for the LUNA2 airdrop?
To be eligible for the LUNA2 airdrop, you must hold Terra Luna Classic or TerraUSD on the Bitfinex platform.
3. What is the expected value of LUNA2?
The value of LUNA2 will depend on various factors in the market. However, its better liquidity, role in network governance, and other benefits could drive demand and value over time.