Tutorial
Luna 2.0 $LUNA — Complete staking guide — Imperator.co
Proposal 1623 birthed Terra 2.0 (LUNA), separate from Terra Classic (LUNC). Claim LUNA 2.0 airdrop via Terra Station or Keplr. Stake LUNA for rewards, security.
Author
Imperator
Date
31 mai 2022
Proposal 1623 passed and a new Terra blockchain is born. The old chain is now called Terra Classic (token Luna Classic — LUNC) and the new chain is called Terra (token Luna — LUNA). 🌕
All those who were affected by the Terra \classic\ collapse were eligible to a LUNA 2.0 airdrop. 🪂
Our goal here is to help the community as much as possible to get access to the airdrop and get the money they deserve. We will cover everything: what’s Terra 2.0, how to get the airdrop and how to stake or redelegate to a validator.
Let’s start 👇
🌕 What is Luna 2.0?
The difference between Luna classic and Luna 2.0 is that the new Terra chain works without the algorithmic stablecoin UST. The new chain aims to be a fully community owned chain.
It goes without saying that the Terra community is incredibly strong, many wonderful Dapps were created in this ecosystem and the experience was great, this has to be preserved.
🪂 Get access to your Luna 2.0 Airdrop
All people who were affected by the Terra \classic\ collapse received a Luna 2.0 airdrop at 06:00 AM UTC on May 28th, 2022 when the new chain launched.
The conditions of eligibility were the following:
Note that many of us have 30% of the tokens unlocked at Genesis, and 70% vested. Besides that, there are three different groups of people with different ways to access the airdrop. Let’s explain how you can get it!
1st group: Those who were holding LUNA/aUST/UST on Terra Station
If you’re in that group, then you have nothing to do. The airdrop came directly on your Terra station wallet.
Check your Terra wallet, you should see the LUNA 2.0
Just make sure that you’re on the Mainnet and not on the classic network.
Select mainnet
2nd group: Those who were holding LUNA/UST on the Keplr Wallet
If you were holding LUNA/UST in DEXs like Osmosis/Crescent Then we developed an app to help you:
👉 Connect your Keplr wallet to our app: terra.imperator.co/welcome
Here, you will be able to see your airdrop, stake, redelegate and transfer LUNA 2.0! This works with Ledger too!
Imperator app for LUNA 2.0
If you were holding LUNA/UST on your Terra address in the Keplr wallet
This is a bit more complicated and I was in this category. I’ll tell you exactly how I handled this to get access to my airdrop. Here are the different steps
Check if you receive an airdrop
To check that, copy & paste your LUNA (classic address) from your Keplr wallet here: https://finder.terra.money.
You will see the unlocked tokens as well as the vested tokens.
2\. Go to your Terra station extension and click on “Add a wallet”
By doing that, you’ll be able to import your Keplr wallet on Terra station
3\. Once you’re there, select “Recover wallet”
4\. Fill in the different parts
Wallet name: put the name you want
Password: choose the password you want
Mnemonic: put the Mnemonic from you Keplr wallet
5\. How to find your Mnemonic on Keplr?
Go to your Keplr wallet and click on the little guy on the top right.
Then, click on “…”. Once you’ve clicked on it, select “View Mnemonic Seed”: copy & paste the Mnemonic seed on your Terra wallet
Note: For those who don’t have a Mnemonic Seed but have a private key instead, unfortunately you will not be able to do the following steps. If ever we find a solution for you, we will update this article.
6\. Your Keplr wallet is now generated on Terra station
7\. Now that you have your wallet, you can check everything here: **https://station.terra.money/wallet**
For the vested tokens, note that you have a vesting schedule:
The vesting schedule will end in 2024.
3rd group: Those who were holding LUNA/UST on an exchange
If you were holding those tokens on an exchange, then the exchange manages the airdrop for you unfortunately. Every exchange has its own way to manage the airdrop, you have to check what they’ve done.
This is another example of “Not your keys, not your coins”. Those you were storing their coins on a decentralized wallet didn’t have this issue and got their tokens way before. That’s why it’s always important to protect yourself and keep your coins safe outside exchanges.
💰 What is Staking?
Staking is the process of locking up a digital asset to provide economic security for a public blockchain. You have the superpower to contribute to the network’s security and it grants you the right to vote on proposals and make decisions on the future of the blockchain.
When the staking transaction is complete, rewards will start to be generated immediately. At any time, stakers can send a transaction to claim their accumulated rewards.
Staking rewards are generated and distributed to staked holders in two ways:
Through transaction fees collected by the network and distributed to stakers.
Through the inflation rate, the total supply is inflated to reward stakers.
⚠️ Holders that do not stake do not receive rewards, meaning their capital gets diluted over time.
Staking is not risk-free. If a validator has downtime or underperforms, a percentage of tokens delegated to them may be forfeited. To mitigate these risks, it is recommended that holders delegate to multiple validators.
📚 How to stake $LUNA?
I’ll present two ways to stake or redelegate your tokens here:
One by using the app we created for Keplr users
Another one by using Terra station directly
Note that if you received the Luna airdrop, 30% is unlocked and 70% is locked. The 70% locked was sent to a validator you DIDN’T choose. You must choose a reliable validator that will stay over the long term, otherwise your tokens are at risk.
We decided to launch our node on LUNA to assist, support and help the people who trust us and are looking for a validator they can trust. We’re here to help the community and provide the best services for you.
Keplr Users — How to stake or redelegate LUNA 2.0
Connect your Keplr wallet to our app https://terra.imperator.co/welcome
Here you will be able to see your see balance and your staked tokens
Imperator app for LUNA
2\. If you see that your stake is with a validator you don’t know, click on his name and select “Redelegate”
3\. Select the new validator with whom you want to redelegate
You can select our validator Imperator.co if you like our work and what we do for the community!
Click on Next, approve the transaction it’s done! You’ve redelegated to Imperator.co!
If you want to stake more LUNA, you just have to click on our name, select “Delegate” and delegate the amount of LUNA you want.
Terra station Users — How to stake or redelegate LUNA 2.0
If you’re using Terra station, here’s what you can do to stake or redelegate:
Go to Terra station https://station.terra.money/
Go to “Stake” on the left to check your validator,
On the new page, click on “Delegations”: you’ll see the name of the validator they delegated your tokens to.
3\. If you want to change your validator
You can look for a validator you know on the search bar, like Imperator.co
click on this validator’s name:
Then click on “redelegate” and redelegate your tokens to the validator you want:
If you want to stake more LUNA, you just have to click on Imperator.co, select “Delegate” and delegate the amount of LUNA you want.
This is the end of the article, we hope that this was helpful. If it was the case, you can support our work by staking your tokens with us and sharing this article with anyone who’s looking for help.
Thank you! :)
