A new initiative, TerraCVita, promises to burn billions in only six months.
Terra Casino said that in the last week, they had burnt up 10.8 million LUNC.
The Terra Classic community plans to burn a large number of LUNC tokens in order to decrease the token’s supply and boost its price. After Terra Rebels increased the burn rate with the v22 update, staking, and the 1.2% burn tax, the community has burnt almost 29 billion LUNC tokens in recent months.
The Terra Classic community burned almost 150 million LUNC tokens in November. By October’s end, Binance had burnt about 13.712 billion LUNC tokens worth of LUNC trading fees. On October 31st, the cryptocurrency exchange burnt 1.26 billion Terra Classic (LUNC) tokens, the fifth batch in a series of six burns totaling more than 5.5 billion Terra Classic (LUNC) tokens.
Strong Community Effort
As a result of the community voting for and passing Proposal 5234, the LUNC burn tax was reduced to 0.2%, and 10% of that sum was redirected to s
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