WLUNA Contract Bridge Spells Trouble for the Terra Luna Community
By WILL Izuchukwu
THE VR Soldier
June 14th, 2022
Wrapped Luna Classic ($WLUNA) is an Ethereum token designed to represent Terra ($LUNA) on the blockchain.
The Idea Behind Wrapped LUNA
Initially, $WLUNA was an Ethereum ERC20 token that tracked the value of the old $LUNA coin
However, the $WLUNA ticker has been deprecated on most wallets since the fork and rebranded as $WLUNC.
There was no airdrop of (new) $LUNA coins for $WLUNA balances. The $WLUNA ticker has yet to be changed to $WLUNC.
Instead of tracking the old $LUNC coin as it should, $WLUNA is following the new $LUNA coin. A mistake...
The WLUNA contract bug is causing significant confusion in the Terra Luna community, and traders are angry that their inflated token balances are incorrect.
$LUNA vs $LUNC
$LUNA is currently trading at $2.50, while $LUNC is trading at $0.00005954.
The contract bug is misleading traders and causing mass confusion in the market for traders.
We can only hope that the contract is fixed ASAP and exchanges update WLUNA to WLUNC if it’s indeed tracking LUNC.
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