Binance, the world’s largest Cryptocurrency exchange by volume of transactions, is set to list the recently launched Terra 2.0 (Luna) which is to be the successor to Luna Classic (LUNAC), on its platform after a successful airdrop hosted last week.
But the listing of the Terra 2.0 (LUNA) by Binance will be in the Innovation Zone. The trading pairs for it will be LUNA/USDT and LUNA/BUSD, it will be available on 2022-05-31 06:00 (UTC).
The launch of Terra 2.0 (LUNA) was quite volatile; the token’s price increased by 80 percent in the very first few hours of trade on Saturday. The Innovation Zone is a trading zone that can be defined as a place where dedicated users of the exchange will be able to trade newly released tokens that may have an increase in volatility and pose a higher risk than all of the other tokens that are traded on the exchange combined.
Terra 2.0 is a new token recently launched after the historic crash of Tera classic which posed about 90% of its value through May. And according to Binance this new token (Terra 2.0) may pose a risk higher than normal, and in doing so, it may be subject to price volatility. Which is used to describe the fluctuations of price in commodities. So because of that, they considered listing it in the Innovation Zone Just to keep their users safe.
“Terra 2.0 (LUNA) is a new token that may pose a higher-than-normal risk, and as such may be subject to price volatility.” Said Binance in the announcement.
Before a user can trade in the Innovation Zone, according to the announcement made by Binance, they will be required to visit the web version of the Binance Innovation Zone trading page to read and carefully understand the Binance Terms of Use and complete a questionnaire as part of the Disclaimer.
Airdropping Of Terra 2.0 (LUNA)
1 billion new LUNA tokens were airdropped to the holders of the Luna Classic and USTC. Binance and most other exchanges supported the airdrop. With Binance ratio of distributing to the eligible users by:
Pre-Attack 1 aUST = 0.01827712143 LUNA
Pre-Attack 1 LUNC = 1.034735071 LUNA
Post-Attack 1 USTC = 0.02354800084 LUNA
Post-Attack 1 LUNC = 0.000015307927 LUNA
Binance and all other Cryptocurrency exchanges also supported this airdrop.
Conclusion
Binance will list Terra 2.0 in the innovation zone in an attempt to make their users safe after a lot of people lost money in the crash of the old Terra (LUNA Classic). When Changpeng Zhao CEO and founder of Binance delisted this old token, he took to his Twitter and said:
“Some of our users, unaware of the large amounts of newly minted LUNA outside the exchange, started to buy LUNA again, without understanding that as soon as deposits are allowed, the price will likely crash further. Due to these significant risks, we suspended trading. While #Binance always aims to be neutral, helpful, and protective of all users and industry peers, and we typically refrain from commenting on other projects, I will break that rule this time.”
