How to Stake LUNC: Everything You Need to Know

This article covered how to stake LUNC, how to stake it on Binance and where to stake with step-by-step guide. Read on to find out.

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Terra (LUNA) collapse in May 2022 may have been the greatest crypto meltdown in the industry’s history, with the value of LUNA almost falling to zero in a single week. Before the crisis, Terra’s LUNA and UST were two of the top 10 cryptocurrencies.

 

LUNC is the original LUNA coin left over after the crash and the launch of a new Terra chain – its founder Do Kwon launched a Terra Revival Plan, which introduced a new version of Luna. The older crypto (original Luna) is now called Terra Classic (LUNC) and the new launched one is called Luna 2.0 (LUNA). Both versions of the Luna token can exist.

 

Though its performance after the crash is not something to celebrate, LUNC price has been experiencing a spike recently, thanks to the v22 upgrade.

 

At press time, Terra Classic price was trading at $0.000164.

 

If you have LUNC coins resting in your wallet, you can stake them to earn passive income. Here’s how.

 

Also Read: Luna Classic Burn: Will LUNC Burn Its Supply?

 

How to Stake LUNC?

After the V22 update, about 6 billion LUNC coins were staked. Below is a step-by-step guide for you to stake LUNC crypto:

 

 

• Go to Terra Stationand click the “Stake”.
• Click the “Connect” button on the right side to connect your Terra wallet.
• Choose one of the validators on thestaking page.
• Once you pick avalidator, click on “Delegate” to continue.
• Enter the number of LUNC you want to stake.
• Hit the “Submit”button to confirm the transaction.

 

It is also advised by some that it is more secure and better to stake LUNC by delegating it to smaller validators. The new V22 upgrade of LUNC allows users to get a portion of what they lost in the May crash.

 

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Where to Stake LUNC?

Terra Station is Terra’s own wallet, you can just stake LUNC there. Current APR is 14.64%.

 

There are a couple of other options available for staking LUNC. For instance, you can stake it on a CEX like Binance, AAX, OkX, or Kraken.

 

Another option is to stake Luna Classic in a Trust Wallet, or hardware wallets like Ledger.

 

How to Stake LUNC on Binance?

Currently, there are three options for staking LUNC on a CEX. Binance is the biggest of these three. The other CEXs are OKX and AAX. Binance offers 4% in a flexible earn option. AAX offers from 4% to 2.5%. OKX offers 1%. This depends on the staking period.

 

LUNC staking on Binance is easy. Just Buy LUNC and add them to the flexible staking option on the Binance Earn page. Then you can sit back and relax. You are earning passive income. See the picture below.

 

 

Download App for Android

Download App for iOS

Closing Thoughts

We have answered questions like how to stake LUNC, where to stake it. The best option with the highest yield is staking on the Terra Station.

 

The Terra Luna crash was one of the worst as millions of users lost their life savings in a span of a few days. It remains a debatable question as to whether LUNA Classic will come back to its old form in full power. I think the community should wait and watch for that.

 

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