shutterstock 1648155934 aQa1aO

Terra to Burn $4.5 Billion Worth of LUNA From Community Pool

Terra, an algorithmic stablecoin project, will burn $4.5 billion worth of terra (LUNA), its native token, from its community pool. The decision was taken using the on-chain governance system, and according to proposals 133 and 134, the LUNA will be burned and swapped for the native stablecoin of the chain, UST. This burn is expected to raise the price of LUNA, at least in the long term.
Terra Starts Burning LUNA
Terra, a smart contract-enabled algorithmic stablecoin project, passed a pair of proposals to burn $4.5 billion worth of terra (LUNA), its native token, from community pools. The burn will occur every 800 blocks produced, and its purpose is to adapt the structure of the currency for the new Columbus 5 upgrade, which changed the way UST is produced.
The UST obtained from the burn will be reallocated to the community pool, with governance responsible for deciding what to do with these funds. The first swap transaction already took place earlier this week. After the whole stash

Czytaj więcej

We współpracy z:

Dodaj komentarz

Podobne Wpisy