Here is the recent announcement from Caleb & Brown regarding delisting Terra Luna. As you all know from my recent coverage, I do not think this coin is going to be ok, and I suggest we stay away from it. This is not always true when coins have big disruptions like this, some of them still go on to do great things. But, as I’ve said there is monkey business going on behind the scenes with this chain and we can make our money elsewhere.
There is additional instability on the new Terra chain as can be seen HERE
Dear valued client,
In light of the recent de-pegging incident of UST and LUNA’s subsequent death spiral, Terra will be implementing the governance proposal 1623 to create a new Terra chain with the core algorithmic stablecoin UST removed. The original chain will be re-branded as “Terra Classic” (token Luna Classic – LUNC) and the new chain will be called “Terra“ (token Luna – LUNA). The new chain will assume all Terra branding assets.
Following the recent events, Caleb & Brown has stopped supporting buy orders of LUNA and UST since May 12, 2022 2:02 PM AEST. Additionally, at this point in time, Caleb & Brown does not anticipate supporting buy or sell orders for the new Terra chain.
In addition to this, Luna will be distributed across Luna Classic stakers, Luna Classic holders and residual UST holders. Users who had held UST and LUNA balances with Caleb & Brown during the snapshot times will be eligible to receive the new Terra 2.0 token (LUNA), subject to certain criteria and based on the Terra project team’s token distribution plan.
Details regarding timing, implementation and amount will be announced at a later date.
Please visit the Terra Docs and Do Kwon’s Agora post for further information:
https://docs.terra.money/docs/
https://agora.terra.money/t/
Kind Regards,
The Caleb & Brown Team
