OKX Announces Support for LUNA Airdrop and Token Migration

OKX is proud to support Terra's LUNA airdrop and token migration initiative. As part of this transition, LUNA and UST will be rebranded as LUNC and USTC, respectively. All eligible users will receive their fair share of tokens. Below are the detailed guidelines and timelines.

New LUNA Airdrop Eligibility and Distribution

Snapshot #1: May 7, 2022 (Historical)

• Time: 14:59:37 UTC
• Eligibility: LUNA holders on OKX at snapshot time

• Calculation:

  User’s Airdrop Tokens = (User’s LUNA Holdings / Total OKX LUNA Holdings) × OKX’s Received Airdrop Pool

Snapshot #2: May 26, 2022 (Block Height-Based)

• Block Height: ~7,790,000 (estimated 19:59:51 UTC)
• Eligibility: LUNA and UST holders

• Calculations:

  • For LUNA Holders:

    (User’s LUNA Holdings / Total OKX LUNA Holdings) × OKX’s LUNA Airdrop Pool

  • For UST Holders:

    (User’s UST Holdings / Total OKX UST Holdings) × OKX’s UST Airdrop Pool

• Note: Snapshots will occur every minute near the target block height. The closest snapshot to the final block will be used. Avoid trading during this period.

Snapshot Rules

• Included Accounts: Trading, Funding, and Finance accounts.

• Exclusions:

  1. Tokens in withdrawal/deposit limbo during snapshots.
  2. Holdings valued < $1 USD.

👉 Secure your assets before snapshots

Temporary Token Freeze

• Effective: 15:00 UTC, May 26, 2022
• Suspended Activities: Deposits, withdrawals, and transfers of LUNA/UST.

Trading the New LUNA Token

The new LUNA token will undergo OKX’s standard listing review. Trading will commence post-approval, announced separately.

Token Distribution Timeline

Tokens will be distributed promptly upon OKX’s receipt. Completion will be notified via official announcement.

Renaming to LUNC and USTC

• Schedule:

  1. May 30, 2022 (06:30 UTC): Pending orders canceled; LUNA/USDT, LUNA/BTC, LUNA/USDC, UST/USDT trading suspended.
  2. May 31, 2022 (07:00 UTC): LUNA/UST deposits/withdrawals disabled.
  3. May 31, 2022 (16:00 UTC): Full-account snapshots (~10 minutes). Holdings will convert to LUNC/USTC in Funding accounts.

👉 Stay updated on LUNC/USTC trading

FAQs

Q1: How do I qualify for the airdrop?
A: Hold LUNA/UST in an OKX Trading, Funding, or Finance account during the snapshots.

Q2: When will the new LUNA tokens be tradable?
A: After OKX completes its listing review. An announcement will follow.

Q3: Why are LUNA and UST being renamed?
A: As part of Terra’s revival plan, LUNA → LUNC and UST → USTC to reflect the new chain.

Q4: What happens if my holdings are under $1 during the snapshot?
A: You won’t qualify for the airdrop. Ensure your balance meets the minimum.

Q5: Can I trade during the snapshot period?
A: Avoid trading to prevent equity inaccuracies.

Q6: How long will deposits/withdrawals be suspended?
A: Until the migration concludes. Follow announcements for reactivation dates.