Airdrop: Juno on Loop Finance
Loop Finance has moved its operations to Juno, while TerraForm Labs has started airdropping.
When the Terra (Luna) network began to crash, the popular Terra Community financial blog and Decentralized Exchange (DEX) were in the process of expanding towards utilizing NFT and a learning protocol that would support crypto enthusiasts in obtaining rewards. It was then that Loop Finance expanded to use NFT and a learning protocol.
Loop Finance stayed and waited in the hope of a full recovery; however, it began to be quite evident that the Terra (Luna) Network was finished and was not going to be dragged out of this major launch event. Despite this, Loop Finance remained hopeful for a full recovery.
Loop Finance has made the decision to move to Juno because its protocol is written in WASM code, which is currently operational in the Cosmos SDK.
Eligibility:
You can check this page to see if your Terra Classic address is listed. If it is, you will be able to receive your airdrop. In the event that the wallet you previously used to protect your Terra address was a hardware wallet, you can submit this form to see if you qualify for the promotion.
How to receive the Airdrop:
1. Link the Kepler wallet
Connect your Kepler wallet to the Juno.tools/airdrops page to enable the use of Juno Tools for your address. Choose the “Claim” option on the right-hand side of the page after it has been established that you are who you say you are.
2: Connect the Terra Station Classic wallet
After clicking the claim button, you will be prompted to log in to your Terra Station wallet so you can claim your rewards. In order for the network to determine if your wallet is eligible, you’ll need to make sure you’re connected to Terra Station Classic.
3. Claim the Airdrop
You should receive confirmation that your $LOOP has been claimed after both wallets have been connected and your gas expenses have been verified, as follows:
4. Confirm the Airdrop in Juno
After going to the https://juno.loop.markets/my website, linking your Keplr Wallet, and then going to the Wallet page, you will be able to see your newly airdropped tokens:
Airdrop expiration:
Don’t forget to claim your airdrop before the airdrop time ends on November 18, 2022. At the time of writing, just 15% (15,247,983) of the total available tokens (41,472. 332.5).
Yield:
The annual returns (APY) of the funds deposited in the LOOP/USDC and LOOP/JUNO funds are totally ridiculous. APYs are likely to decline as the popularity of these funds increases, as is the case with the vast majority of newly formed funds.
Keep in mind that the airdrop takes place after Terra’s crash, and the Loop.finance team continues development even after that crash.
Loop.finance on Twitter:
Source: https://twitter.com/CryptosWith on Coinmonks Medium.