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Krystal Newsflash (3rd June 2022)

Welcome to our recap of the major stories in the crypto world! Here’s what has happened over the past week:

Terra 2.0 airdrop commences

The new LUNA token has arrived, and most investors seemed to dump the token after they received their airdrop.

So far, only 30% of the entire supply has been distributed to every wallet.

The remaining 70% of the new LUNA tokens will be distributed between November 2022 and November 2024.

There is a 6 month cliff period (May — November) before the new tokens are vested, which follows the same cliff and vesting schedule as some of the projects on our launchpad, KrystalGO.

Most of the prominent centralised exchanges have already listed this token.

It may be quite confusing as some exchanges list the new token as LUNA2, while others list it as LUNA.

Binance listed the new LUNA token under the ‘Innovation Zone’, where users will need to read Binance’s Terms of Use and complete a questionnaire before they can trade this token.

OP token is now live

Optimism, a Layer 2 network on Ethereum, announced its “season of airdrops” of their new token, OP.

You can qualify for this token airdrop if you meet certain criteria, such as:

To find out if you qualify for this airdrop, you can connect your wallet to the Optimism website.

While we do not support Optimism on our platform, we have other Layer 2 networks such as Polygon and Arbitrum.

Singapore’s stance on crypto

At the Asia Tech x Singapore 2022 Summit, Singapore’s Deputy Prime Minister Heng Swee Keat mentioned that retail investors should “steer clear of cryptocurrencies” as they are extremely risky.

While Singapore is working with blockchain and digital asset players to encourage innovation, the stance is rather clear on retail investing in such assets.

Interestingly enough, in a social media post by the Central Provident Fund (CPF) in Singapore, they were seen to accept NFTs as part of a diversified investment portfolio.

Pay with crypto at Chipotle

Chipotle is now accepting crypto payments at their United States restaurants.

The Mexican grill restaurant has partnered with Flexa to offer cryptocurrency payments, such as BTC and LTC.

You will need to have a Flexa-enabled app to make payments, including Gemini and SPEDN.

As more companies start to accept cryptocurrencies, this will help with greater adoption by more users.

FTX overtakes Coinbase

FTX now has a greater trading volume compared to Coinbase.

While still paling in comparison to the trading volume on Binance, FTX is now the 2nd ranked Spot exchange on CoinMarketCap.

What crypto will you use to make payments in the real world? Did you manage to receive an airdrop from Optimism? Do tweet us or send us a message on Telegram to let us know!

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