Skip to main content
Transition from LUNA to LUNC

Managing portfolio overvaluation following the LUNA/LUNC fork

Updated over a week ago

Hello 👋🏾

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

Background on what happened:

On 28 May 2022, there was a fork in the Terra blockchain (LUNA). In other words, the token that was then called LUNA was renamed LUNC (Luna Classic) and the Terra blockchain was renamed Terra Classic.

On the other hand, the new blockchain and its corner were renamed Terra and LUNA.

Howdoes this affect the value of your portfolio?

It overvalues 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".

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

  • LUNC (ex-LUNA): €0.0001124

  • LUNA (new one): €4.5

Here is an example:

If you had 10,000 LUNC, that would be worth €1124. Since they're still under the name "LUNA" and not "LUNC", Waltio recovers the price of the new LUNA, i.e. €4.5.

This values your stock of LUNA at €45,000.

How can you change this on your account?

You will need to manually enter the change from LUNA to LUNC after the fork date.

To do this, create a transaction to exchange your LUNA amount on 28/05/2022 for the same amount in LUNC.

To continue with our example: you create an exchange of 10,000 LUNA for 10,000 LUNC on 28/05/2022:

👉🏾 The principle is the same as for the switch from ERD to eGLD.

💡 Another solution could be to replace "LUNA" with "LUNC" on all your LUNA transactions dating from after the fork.

If you have any further questions, get in touch via the chat just down the right-hand side of your screen! 💬

The Waltio team

Did this answer your question?