Binance, a cryptocurrency exchange, has distributed Terra’s (LUNA) second airdrop to holders of Terra Classic (LUNC) and Terra Classic USD (USTC) who had their holdings at the time of the snapshots taken on May 7th (before the collapse of Terra) and May 26th (after the collapse).
The amount of $LUNA that was distributed to holders before and after the collapse is significantly different due to the decrease in value of Terra’s ecosystem tokens.
The $LUNC community decided to initiate a 1.2% tax burn on all transactions conducted on the network in response to the fall of Terra’s ecosystem earlier this year, which caused the circulating supply of Terra tokens to spike from 340 million to 6.9 trillion.
Binance has been supportive of these token burns, with its third batch destroying 2.5 billion tokens that were worth nearly $660,000 in a single transaction.
