Luna Memo
Luna has been one of my core positions since early 2021. In this short memo I will explain a few reasons why.
The Terra network (with Luna as native coin) is well on its way to create a complete ecosystem of DeFi and payment solutions with its own algorithmic stablecoin (UST) at its core.
Interoperability
Terra was recently included in the Wormhole 2.0 bridging update creating a powerful connection between Ethereum, Solana, BSC, and Terra. In the upcoming upgrade Colombus-5, this interoperability will start to show its power as it includes integration capabilities of IBC. If there is one common denominator in the value accrual of crypto in general, it is its network effect (Metcalfe’s Law). Interoperability between protocols is a feature that adds value to the connecting networks exponentially. As protocols can interact with each other’s smart contracts and transactions, it adds huge value to all users. The exponential effect can be seen in the picture below.
Deflationary tokenomics
As I noted earlier, Terra revolves around its stablecoin UST, and Luna’s tokenomics becomes deflationary as UST demand increases. The logic works as follows: Demand for UST rises -> circulating supply of LUNA decreases. Increasing demand for UST causes the price of 1 UST to rise above 1 USD, this creates an arbitrage opportunity as you can mint 1 UST (increasing UST supply) for 1 USD worth of LUNA. This burns the LUNA swapped for UST.
Use case
Another common denominator between successful protocols is having active users and developers. Luna has a DeFi ecosystem that creates incentive for being part of Terra
- Anchor (A savings account with 20% APY and $4.1 Billion TVL as of september 27th 2021)
- Mirror (A SNX-like protocol that provides exposure to real world assets through a fungible synthetic asset)
- CHAI (A Korean mobile payments app which uses Terra for settlement. As of today the app has around 150k users weekly and 60k users daily, currently ranking top 4 of all dApps on 24h basis)
The longer term growth case for Luna is pretty simple and fit the main criteria’s I look for in a crypto investment
Что такое мемо в криптовалюте
Технология блокчейна позволила создать множество платежных систем. Первой из них стала сеть Bitcoin. Все участники системы имеют криптовалютный кошелек. Чтобы перевести на него монеты BTC, необходимо указать адрес. Мемо в криптовалюте используется некоторыми другими блокчейнами в определенных случаях. Это идентификатор, который нужно указывать вместе с адресом для проведения транзакций. В противном случае есть вероятность потерять отправленные цифровые активы.
- Понятие мемо в криптовалюте
- Когда нужно указывать Payment ID
- Криптовалюты, использующие мемо
- Последствия неправильного заполнения поля
- Как восстановить транзакцию
- Решения частых проблем пользователей
Понятие мемо в криптовалюте
Тег назначения (Destination Tag) — уникальный идентификатор (ID) учетной записи на бирже цифровых активов или сервиса. Он используется для указания конкретного пользователя, которому переводятся монеты. Ввод тега потребуется при отправке криптовалюты в некоторых блокчейнах (Binance Coin, Stellar, Ripple, Cosmos и других).
Схема работы MEMO на криптобирже
Мемо в отдельных сетях может называться по-разному. В Ripple это 6-значный Destination Tag, складывающийся из цифр. В блокчейне NEM поле для ввода мемо называется Message. Некоторые пользователи путаются и оставляют его пустым или набирают какое-либо сообщение для получателя. Тег назначения в одних сетях состоит из цифр, а в других к ним добавляются буквы.
В большинстве блокчейнов есть возможность оставлять комментарий к транзакции, который позволит идентифицировать ее внутри сети.
Is A Memo Needed For These Wallets And Cryptocurrencies? (Explained)
When you are sending your funds from one platform to another, you may notice that some of them require you to include a memo, which is in addition to the deposit address.
How do you find this memo, and is it needed for every transfer?
Here’s what you need to know:
What is a memo in crypto?
A memo is needed to match your crypto deposit to your account, and this usually occurs on a centralised exchange. This is because a centralised exchange may have one deposit address for multiple accounts on its platform, and it needs the memo to send the funds to the correct account.
If you are sending certain cryptocurrencies to a centralised exchange like Binance or KuCoin, you should see that you will need to copy a memo as well.
If the cryptocurrency only shows the deposit address, you do not require a memo.
You may want to note that if you are sending your funds to a decentralised wallet like Metamask or Keplr, you can leave the memo field blank.
This is because you are the sole owner of that wallet address, and you do not require a memo to receive your funds.
You can find out more about crypto memos in my video here:
What is the difference between a memo and a destination tag?
A memo and a destination tag refer to the same string of numbers which is used to match a funds transfer to your account on a centralised exchange. Similar to a memo, you do not need a destination tag if you are sending to a decentralised wallet.
Depending on the wallet or exchange that you’re on, some platforms may call your memo a destination tag instead.
However, both of them are referring to the same thing!
Does BNB need a memo?
You are only required to have a memo if you are sending BNB via the BNB Beacon Chain (BEP2) to another centralised exchange. However, if you are sending BNB via the BNB Smart Chain (BEP20), you are not required to enter a memo.
You can send BNB using 2 different networks, including the BNB Beacon Chain (BEP2) and the BNB Smart Chain (BEP20).
You will only need a memo if you are sending BNB to another exchange (e.g. KuCoin) via the BEP2 network.
If you are sending BNB via the BEP2 network to a non-custodial wallet like the Binance Chain Wallet, you do not need a memo.
You may want to note that sending BNB via the BNB Smart Chain (BEP20) does not require a memo, regardless of whether you are sending to a centralised exchange or a non-custodial wallet.
Does ATOM need a memo?
You are only required to have a memo if you sending ATOM to another centralised exchange (e.g. Binance or KuCoin). If you are sending ATOM to a decentralised wallet like Keplr, you do not need a memo.
When you are sending ATOM via the Cosmos network to another wallet or exchange, you may be asked to fill in the memo field.
If you are sending ATOM to another centralised exchange like KuCoin or FTX, you will need to copy both the deposit address and the memo.
However, if you are sending ATOM to a decentralised wallet (e.g. Keplr or Atomic Wallet), no memo is required.
As such, you can leave the memo field blank if you are sending ATOM to a decentralised wallet!
Does HBAR need a memo?
You are only required to have a memo if you are sending HBAR to another centralised exchange (e.g. Binance or KuCoin). If you are sending HBAR to a decentralised wallet like Exodus, you do not need a memo.
When you are sending HBAR via the HBAR network to another wallet or exchange, you may be asked to fill in the memo field.
If you are sending HBAR to another centralised exchange like Binance, you will need to copy both the deposit address and the memo.
However, if you are sending HBAR to a decentralised wallet (e.g. Exodus), no memo is required.
As such, you can leave the memo field blank if you are sending HBAR to a decentralised wallet!
Does LUNA need a memo?
You are only required to have a memo if you are sending LUNA to another centralised exchange (e.g. Binance or KuCoin). If you are sending LUNA to a decentralised wallet like Terra Station, you do not need a memo.
When you are sending LUNA via the TERRA network to another wallet or exchange, you may be asked to fill in the memo field.
If you are sending LUNA to another centralised exchange like Binance, you will need to copy both the deposit address and the memo.
However, if you are sending LUNA to a decentralised wallet (e.g.Exodus, or Terra Station Wallet), no memo is required.
As such, you can leave the memo field blank if you are sending HBAR to a decentralised wallet!
Does XLM need a memo?
You are only required to have a memo if you are sending XLM via the XLM network to another centralised exchange. However, if you are sending XLM via the BNB Smart Chain (BEP20), you are not required to enter a memo.
You can send XLM using 2 different networks, including the native XLM and the BNB Smart Chain (BEP20).
You will only need a memo if you are sending XLM to another exchange (e.g. Binance) via the native XLM network.
If you are sending XLM via the native XLM network to a non-custodial wallet like Coinbase Wallet or Trust Wallet you do not need a memo.
You may want to note that sending XLM via the BNB Smart Chain (BEP20) does not require a memo, regardless whether you are sending to a centralised exchange or a non-custodial wallet.
Does XRP need a memo?
You are required to have a memo if you are sending XRP via the native XRP network and the Binance Beacon Chain (BEP2) to another centralised exchange. However, if you are sending XRP via the BNB Smart Chain (BEP20) and the Ethereum network (ERC20), you are not required to enter a memo.
You can send XRP using 4 different networks, including the native XRP, the BNB Smart Chain (BEP20), the Binance Beacon Chain (BEP2), and the ERC20 network.
You will need a memo if you are sending XRP to another exchange (e.g. Binance) via the native XRP network and the Binance Beacon Chain (BEP2).
If you are sending XRP via the native XRP network to a non-custodial wallet like Xumm Wallet or Trust Wallet you do not need a memo.
You may want to note that sending XRP via the BNB Smart Chain (BEP20) and the Ethereum network (ERC20) does not require a memo, regardless whether you are sending to a centralised exchange or a non-custodial wallet.
Does Coinbase need a memo?
Coinbase Wallet is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Coinbase Wallet, depending on the cryptocurrency you wish to receive, you may notice that you can only find the address and not the memo.
You may want to note that when you are sending cryptocurrencies like XLM or XRP to your Coinbase, you may need to enter a memo because Coinbase is a centralised exchange. This is different from Coinbase Wallet which is a non-custodial wallet.
Does Metamask need a memo?
Metamask is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Metamask, you may notice that you can only find the address and not the memo.
When you are sending cryptocurrencies to your Metamask wallet, you do not need to enter a memo.
Does Keplr need a memo?
Keplr is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Keplr, you may notice that you can only find the address and not the memo.
When you are sending cryptocurrencies like ATOM or CRO to your Keplr wallet, you do not need to enter a memo.
As such, you can enter your Keplr deposit address, and leave the memo field blank.
Does Binance Chain Wallet need a memo?
Binance Chain wallet is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Binance Chain wallet, you may notice that you can only find the address and not the memo.
You may want to note that when you are sending cryptocurrencies to your Binance, you may need to enter a memo because Binance is a centralised exchange. This is different from Binance Chain Wallet which is a non-custodial wallet.
Does Trust Wallet need a memo?
Trust wallet is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Trust Wallet, depending on the cryptocurrency you wish to receive, you may notice that you can only find the address and not the memo.
When you are sending cryptocurrencies to your Trust wallet, you do not need to enter a memo.
As such, you can enter the deposit address of the crypto you wish to send to your Trust wallet, and leave the memo field blank.
Does Xumm need a memo?
Xumm Wallet is a non-custodial wallet, so you do not need to include a memo when you are sending any funds to your wallet.
When you are obtaining your deposit address from Xumm, you may notice that you can only find the address and not the memo.
When you are sending cryptocurrencies to your Xumm wallet, you do not need to enter a memo.
As such, you can enter your Xumm deposit address, and leave the memo field blank.
Luna memo что это
Reddit and its partners use cookies and similar technologies to provide you with a better experience.
By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising.
By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform.
For more information, please see our Cookie Notice and our Privacy Policy .
Get the Reddit app
A new way to earn, borrow, and pay on the blockchain. Earn up to 17% APY on crypto, and get a crypto-backed loan for as low as 1% APR. https://celsius.network/ Please make sure that you read our Help Center before posting a general question that can be found there: https://support.celsius.network/hc/en-us
Many users have questions about depositing Terra (LUNA) into their Celsius wallet with or without a Memo ID.
Please note that the Memo ID is required for smooth transactions. You can find it on the Celsius web app by clicking on:
The Memo ID shows up at the end of the LUNA address.
* Please note that the Memo ID does not currently show up on the mobile app!
I also found a new Celsius resource . it's definitely run by a true Celsian as all the information is already updated with the LUNA addition.
Remember that depositing Terra (LUNA) will affect your CEL Ratio and therefore, Celsius Loyalty Level. The above resource also has a CEL Ratio Calculator (first one I've ever seen) which will tell you how many CEL tokens you need to have for each loyalty level based on your total portfolio value. It's great!