MoonXBT’s Giving Back to LUNA Sufferers Resonates with Community
It’s been almost a month since the catastrophic LUNA crash which wiped out $40 Billion from the 99% drop in LUNA’s price and caused almost $500 billion in losses in the broader crypto market. Many investors have lost their life savings and some even contemplated suicide according to the daily mail.
As a young exchange focusing on the integration of transactions and social interaction, MoonXBT values deeply the connection with its users and with the crypto investors overall. Facing the black swan, MoonXBT has carried out two major steps to help to mitigate the sufferings of the investors.
Right after LUNA crashed, MoonXBT launched an emergency shutdown due to the abnormality of LUNA and APE prices. The platform then gave full refunds to the investors who suffered losses during the shutdown for their non-LUNA and APE orders.
Moreover, MoonXBT recently launched a full-scale campaign to give back to the community in an effort to bring comfort and welfare to the crypto community afflicted by LUNA at large. It collects the LUNA victims among all the crypto users including ones outside the MoonXBT platform to survey to what extent they are hit by LUNA.
As the campaign has come to an end, MoonXBT has selected from all the participants the one who has lost the most because of LUNA. The participant will get an iPhone 14 in the future when the pre-sale starts as a comfort prize. Also, one lucky participant who profited from LUNA was selected by drawing to earn one thousand USDT. Meanwhile, another 15 lucky users who participated in the campaign and registered on MoonXBT have been rewarded a trading bonus.
“ As a young exchange, we are doing everything we can to make the users who have suffered from the LUNA crisis feel a little bit better”, George Lee, the COO of MoonXBT says. “ It may not be that much, but compared to some other approaches trying to ‘revive’ LUNA, at least we chose to be on the same side of the users.”
While MoonXBT is focusing on actually compensating LUNA sufferers, other exchanges are busy supporting LUNA 2.0. Being referred to as LUNA 2.0, the new coin is part of the revival plan of Terraform Labs, the company behind LUNA. LUNA 2.0 is already being traded on exchanges such as Bybit, Kucoin, Huobi, and Binance. After its new launch, the coin soon peaked at more than $19 but dropped to around $4.4 just a few hours later. And no one knows who has benefited from the new LUNA and who has lost again this time.
“Every time you think you are buying at the bottom of LUNA, and you would soon see a big rally, it ends up in another big hit. I think unlike Terraform Labs and some major exchanges who seem to be thinking about making more money from this crisis, MoonXBT really sympathizes with the investors”, says Andy Joko, who is the leader of MoonXBT’s Indonesia community and who used to be a Binance angel.
MoonXBT’s giving back to the community campaign has resonated with the community and attracted several hundreds of participants from Southeast Asia, Turkey, Latin America, and so forth. The exchange has witnessed frustration from the investors regarding the incidents and has strengthened its commitment to protecting the benefits of the users. The platform has also upgraded its overall security by working with top-notch security companies like Fireblocks and Certik aiming to better safeguard the users’ assets and benefits which is in line with MoonXBT’s core value: users always come first.