This article describes the display bug affecting WLUNA holders in Ledger Live.
A bit of background
On May 28, 2022, the Terra chain experienced a fork leading to the launch of the new Terra 2.0 network.
The old chain lives on as Terra Classic. Terra Classic is home to LUNC which is a rebranding of the old LUNA coin.
Before the May 28, 2022 fork, WLUNA was an ERC20 token on the Ethereum network tracking the value of the old LUNA coin. You can see the token's smart contract here.
Why is WLUNC not tracking the value of the new Terra 2.0 LUNA coin?
The Terra governance warned that LUNA bridged off of the Terra chain (such as WLUNA) before the fork may be excluded from the Terra 2.0 airdrop.
As a result, WLUNA balances were not converted into an equivalent airdrop of (new) LUNA coins.
Why is Ledger Live still using the WLUNA ticker instead of WLUNC?
Ledger Live is currently experiencing 2 bugs:
- The WLUNA ticker has not been updated to WLUNC yet.
- WLUNA is incorrectly tracking the new LUNA coin instead of the old LUNC coin as it should.
Combined, these bugs have led to Ledger Live displaying incorrect (and extremely inflated) token balances. We're working on a fix to correct these bugs.
What can I expect after the fix?
If you're holding the old Wrapped LUNA token in Ledger Live, here's what you can expect after the update:
- Wrapped LUNA token will be renamed to Wrapped LUNC token in accordance with Terra's migration guidelines.
- Wrapped LUNC will start tracking the value of LUNC instead of LUNA.