Luna is a stablecoin traded on the Terra blockchain, a decentralized finance platform specializing only in stablecoins. While other cryptocurrencies such as Bitcoin and Ethereum are prone to severe price volatility, Terra has chosen to focus on stablecoins pegged to different financial assets to provide some stability. To counter any fluctuations, Terra uses its native token Luna to maintain the price of other stablecoins while Luna delegators earn Luna airdrop as a reward.
The Terra blockchain network was created by the Korean company Terraform labs. Ever since it was formed, it has enjoyed immense success. Currently, Terra is one of the top blockchain networks in terms of market capitalization. Several stablecoins can be traded in Terra including UST, MINE, Terra Luna, and many others. You can earn airdrops from delegating Luna on Terra money as well as other stablecoins such as Mine.
Luna airdrop is an incentive that has attracted many crypto enthusiasts. Staking Luna on Terra can earn you airdrops which can be paid out weekly. Airdrop rewards are part of the transaction fees or taxes collected on Terra money. In this article, we look at how you can get your hands on a Luna airdrop.
What are Luna airdrops?
Although decentralized finance is completely different from trade finance, there are some concepts in cryptocurrency that have been borrowed from the latter. For instance, we have crypto lending, crypto HODLing for interest, and now airdrops. In trade finance, investors earn dividends which are similar to airdrops in decentralized finance.
When you stake Luna on Terra, you are supporting the entire Terra ecosystem while also helping Terra maintain the price of their stablecoins. Because of these factors, you are rewarded with Luna airdrops and can even have a say on the improvements that can be done on the network. You can try this link to learn more about Luna airdrops and how to collect them.
Types of Luna airdrop available
Below are some of the Luna airdrops available:
The Terra blockchain has not been around for long but it has already gained a lot in terms of market capitalization. One of the reasons behind these great strides the network has made is the issuance of genesis airdrops. Genesis airdrops are issued as a welcome gift to those investors who stake in new projects.
Terra has been launching new projects, and to encourage investors to delegate their funds in those projects, genesis airdrops are issued. It is a one-time reward but it is a pretty handsome one. It is offered as a thank you for being an early believer in its projects.
In the case of Luna delegators, these are the kind of airdrops you earn from staking Luna on Terra money. This reward may not be as huge as genesis airdrops but is paid out more often. You receive weekly Luna airdrop for continually HODLing your Luna coins on Terra. When staking Luna on Terra, you can decide to stake with one top validator or distribute your funds among several validators.
How to claim Luna airdrop
Claiming Luna airdrop on Terra is simple. All you have to do is delegate or stake Luna on Terra station and in return, you will be awarded airdrops. Staking is an indicator that you have committed yourself to a project and as such you receive airdrops to reward your commitment. When you stake your investment, it is locked for a specific period such as 21 days in the case of Luna. Terra is very soon launching several projects many of which earn Luna stakers airdrops.