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Token name change

Managing portfolio overvaluation following the LUNA/LUNC fork

Updated today

📝 Description

If you owned LUNA in 2022, your portfolio value might be overvalued after analysis.

On May 28, 2022, there was a fork of the Terra (LUNA) blockchain. The token called LUNA was renamed LUNC (Luna Classic) and the Terra blockchain became Terra Classic. The new blockchain and its coin took the name Terra and LUNA.

This creates an overvaluation of your portfolio because the old LUNA does not have the same value as the new one, and it is not possible to read two different cryptocurrencies with the same ticker on Waltio. There cannot be two "LUNA" tickers.

Here are the prices at the time of the fork (according to CoinMarketCap):

  • LUNC (ex-LUNA): €0.0001124

  • LUNA (The new one): €4.5

Here is an example: if you had 10,000 LUNC, it was worth €1.124. Since they are still under the name "LUNA" and not "LUNC", Waltio retrieves the price of the new LUNA, which is €4.5. This values your LUNA stock at €45,000.

📂 Correct your account

1. Create a swap transaction of your LUNA amount to LUNC on 05/28/2022

If we take our example: you create a swap of 10,000 LUNA for 10,000 LUNC on 05/28/2022:

LUNA to LUNC 1

💡 Additional Information

  • Another solution could be to replace "LUNA" with "LUNC" in all your LUNA transactions dated after the fork.

  • The principle is the same as for the transition from ERD to eGLD.

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