Luna airdrops are rewards issued by the Terra blockchain network or other platforms where you can delegate Luna, either for trying new crypto projects or by staking Luna. Terra is a blockchain network founded by Terraform labs that deals with a host of other crypto tokens alongside Luna, its native token.
It is through staking of Luna or investing in new Terra projects that users can earn Luna airdrops. Luna staking is becoming especially popular because of the exciting returns that investors can earn on the maturity of the lock period. Staking on the other hand helps Terra obtain liquidity pools both for its smart contracts and Terra projects.
Luna airdrops can be claimed weekly as long as you have delegated your Luna tokens. You can claim your tokens on the Terra station wallet or any platform where you can trade Luna such as Loop finance. In this article, we look at what Luna airdrops are and where to claim them. Let’s get started.
What are Luna airdrops?
Simply put, airdrops in crypto are akin to dividends in traditional finance. However, while dividends are usually paid annually, airdrops, such as in the case of Luna, can be claimed weekly. Terra is a blockchain network that only focuses on stablecoins that are tethered to various financial assets.
To counter price volatility a common occurrence in the crypto market, Terra employs a series of algorithms involving Luna, in a bid to ensure the stablecoins remain pegged to their linked financial assets. Users have to stake Luna tokens to achieve this balance and in return are rewarded with Luna airdrops. You can claim your Luna airdrops on the Loop finance homepage or the Terra station wallet.
What are various types of Luna airdrops you can claim
1. Genesis airdrops
Crypto platforms issue airdrop rewards as a means of creating awareness of a new project by rewarding new users with crypto tokens. The Terra network keeps coming up with new projects every year. To help raise awareness about these new products, new users are rewarded with airdrops which can be claimed as Luna or any other Terra stablecoin of their choice. This is usually a one-off reward but a huge one.
2. Weekly Luna airdrops
For those who prefer staking Luna, you can earn weekly redeemable Luna tokens in the form of Luna airdrops. These airdrops are paid out until the period that you locked your Luna tokens in for is over. The airdrop amount is usually in direct proportion to the number of Luna tokens you have staked. While the reward may not be as large as for genesis airdrops, they are paid out weekly which in the long run can turn out to provide a handsome return.
Where to claim Luna airdrops
Terraform labs designed the Terra blockchain to be a dynamic platform allowing the Terra tokens to be traded in other networks. There are several top platforms where you can claim Luna airdrops like:
- The Terra station – all of the Terra stablecoins are traded at the Terra station wallet. This is in fact the first platform where you can claim your Luna airdrops. Even before Terra tokens were available at other platforms, they were already available at the Terra station. Users stake Luna tokens here to earn Luna airdrops to invest in new projects.
- Loop finance – this is one of the few popular platforms where you can stake Luna and claim Luna airdrops as well. When you sign up with Loop, you open doors for Luna staking which enables you to earn Luna airdrops in return.
Terra stablecoins are doing extremely well and this is thanks to Luna. Terra uses the Luna token as a mechanism of countering price volatility through Luna staking. In return, delegators earn weekly rewards called airdrops. If you are new to crypto trading, you should try Luna staking as it is relatively simple and can earn you a great yield.