WHAT DOES THE MOON IN A SQUARE POINT?
Two years later, in 2024, the first manned mission to the Moon will be launched as part of the Aurora program. The Luna crypto, which has been lamented by many lately, should finally pay off. And if regarding the first there is faith in the best, then the second is in doubt.
A little prehistory.
Terra Luna plummeted in price and led to the loss of about $ 40 billion for crypto investors, and also evaporated more than $ 1 trillion in six weeks. After this fiasco, Terraform Labs proposed a new blockchain — LUNA 2.0, this time without an algorithmic stable coin & with a fixed total supply of 1 billion tokens, which will be traded separately from the original LUNA Classic tokens. New coins were also distributed to Terra stakeholders on the Classic network, representing 70% or (700 million) of the total supply of LUNA 2.0 tokens. According to the official announcement, the amount of airdrop each person will receive depends on whether these tokens were held before or after the UST depegation. However, not all tokens distributed over the air were available at launch. 70% of the amount of the distribution was transferred directly to the validators to ensure the security of the network, they will be distributed only within two years.
Here are some elementary miscalculations that lead to “bad omens”:
1. Those who bought the Luna before the incident received a LUNA 2.0 airdrop in the amount of only 30% of their balance immediately, and the remaining 70% will be received within two years, provided that the investor had less than 10,000. More affluent customers will have to wait two to four years to get LUNA 2.0.
2. Those who bought the UST stable coin will receive LUNA 2.0, but not at the price of 1 UST = 1 USD, but at the price at the time of the blockchain snapshot (snapshot of May 27), that is, 0.03 dollars, which is unprofitable for any investor.
3. Considering the huge loss of capitalization of the Terra project at the moment, the new LUNA 2.0 is trading at ~4–5 USD(T-C). Thus, investors who bought Luna before the incident at a price above $5 have to wait half a year to go to zero, and those who bought it at the peak (~$100) will have to wait a very long time until the coin gains its experienced capitalization (more than $22 billion, now 160 million), which is very doubtful given the lost investor confidence.
4. The founder of Terra himself adds fuel to the fire, since a few days before the incident, he disbanded the core development team in Korea, justifying that this was just an accident. Also, the head of the company may appear before the court of Korea. And finally…
5. Large volumes at the start of trading, unfortunately, this is not the faith of investors in the future of the Terra 2.0 system, but just arbitrage. If everything goes on at such a pace, then Luna investors will not have time to wait for their airdrop in 2 years, because they will have to wait for LUNA 3.0 & it’s not far from LUNA 4.0. Thus, good news can be expected sooner from our satellite, the real tangible Moon.
So if your business is in any way connected with this cryptocurrency, then consider all the risks associated with the project / projects. And if your team doesn’t have such competent specialists, or if you don’t fully understand this area, then come to us — we will help you!
