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Terra Luna Classic Burns 726 Million USTC From Anchor Protocol🔥🔥🔥🔥
#Court-approved date....
Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects.
Over 726 Million USTC Burned After Proposal Passes
In the major news for the LUNC community, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol.
The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community.
The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution.
All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the
court-approved date.
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#Court-approved date....
Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects.
Over 726 Million USTC Burned After Proposal Passes
In the major news for the LUNC community, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol.
The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community.
The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution.
All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the
court-approved date.
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Terra Luna Classic Community Plans 1B USTC, 275B LUNC Burn
Terra Luna Classic community awaits massive USTC and LUNC burn by Terraform Labs (TFL) as per the Chapter 11 bankruptcy and court order in the U.S. SEC case. While the actual amount of Terra ecosystem tokens to be burned remains uncertain, Terra Classic members claim it’s over 1 billion USTC and 275 billion LUNC tokens. LUNC price and USTC recovers 15% in a week.
Terra Luna Classic Community Prepares For USTC & LUNC Burn
Terra Luna Classic validator HappyCattyCrypto in an X post on September 9 opened up about his research into the amount of tokens burn expected from TFL. According to him, over 1 billion USTC and 275 billion LUNC tokens could burn as a result of Chapter 11 bankruptcy proceedings.
Notably, over 2.58 billion LUNC have been claimed from the shuttle bridge reopened by TFL, as per Terra Finder transactions data.
In addition, the validator urged the community to migrate Mirror Protocol and Anchor Protocol contracts to new code via governance similar to Risk Harbor. The funds associated with Mirror Protocol and Anchor Protocol are Columbus-5 native assets USTC and LUNC.
All Terra Luna Classic assets as stated by Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date.
“As TFL begins winding down its operations, Proposal 4818 will be the final chain upgrade that we implement. Pursuant to TFL’s settlement with the SEC and implementation of its proposed chapter 11 plan, TFL will no longer have the ability to support future chain upgrades,” as per Terra Money.
Total LUNC burn from Mirror Protocol would be 480,404,166, as per a Commonwealth post. Also, a total of 46,556,271 USTC can be burned from Mirror Protocol and 729,976,293 USTC from Anchor Protocol.
Terra Luna Classic community awaits massive USTC and LUNC burn by Terraform Labs (TFL) as per the Chapter 11 bankruptcy and court order in the U.S. SEC case. While the actual amount of Terra ecosystem tokens to be burned remains uncertain, Terra Classic members claim it’s over 1 billion USTC and 275 billion LUNC tokens. LUNC price and USTC recovers 15% in a week.
Terra Luna Classic Community Prepares For USTC & LUNC Burn
Terra Luna Classic validator HappyCattyCrypto in an X post on September 9 opened up about his research into the amount of tokens burn expected from TFL. According to him, over 1 billion USTC and 275 billion LUNC tokens could burn as a result of Chapter 11 bankruptcy proceedings.
Notably, over 2.58 billion LUNC have been claimed from the shuttle bridge reopened by TFL, as per Terra Finder transactions data.
In addition, the validator urged the community to migrate Mirror Protocol and Anchor Protocol contracts to new code via governance similar to Risk Harbor. The funds associated with Mirror Protocol and Anchor Protocol are Columbus-5 native assets USTC and LUNC.
All Terra Luna Classic assets as stated by Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date.
“As TFL begins winding down its operations, Proposal 4818 will be the final chain upgrade that we implement. Pursuant to TFL’s settlement with the SEC and implementation of its proposed chapter 11 plan, TFL will no longer have the ability to support future chain upgrades,” as per Terra Money.
Total LUNC burn from Mirror Protocol would be 480,404,166, as per a Commonwealth post. Also, a total of 46,556,271 USTC can be burned from Mirror Protocol and 729,976,293 USTC from Anchor Protocol.
Breaking: WLUNC Soars 28% As Terra Opens Shuttle Bridge
WLUNC Soars 28% As Terra Opens Shuttle Bridge
Shuttle Bridge Reopens For 30-Day Asset Redemption
Wrapped LUNA Classic (WLUNC) has seen a 28% upswing in its price following the reopening of Terra Classic’s Shuttle Bridge. The Shuttle Bridge reopening enables users to transfer their LUNC and USTC assets bridged from networks such as the Ethereum mainnet, BNB Chain (BSC), and Harmony back to Terra Classic.
WLUNC Soars 28% As Terra Opens Shuttle Bridge
In a recent development for Terra Classic users, the Shuttle Bridge has been reopened, allowing for the transfer of wrapped assets back to the network. This update has sparked a 29.99% Wrapped LUNA Classic price surge to $0.00008246 alongside an increase of 28.94% in the WLUNC market cap.
Concurrently, the trading volume for WLUNC increased massively by 237.75% to $173,906.22, indicating heightened trading activity and investor interest. This bullish trend in WLUNC demonstrates the market’s positive reaction to the updates to facilitate asset management and redemption.
Additionally, The bridge’s reopening enhances WLUNC’s liquidity and ensures users retain control over their cryptocurrencies.
However, LUNC price reaction was mild, with a 0.65% surge at the time of writing. The token has, however, broken the $0.00008406 intraday resistance level, signaling a potential rally.
WLUNC Soars 28% As Terra Opens Shuttle Bridge
Shuttle Bridge Reopens For 30-Day Asset Redemption
Wrapped LUNA Classic (WLUNC) has seen a 28% upswing in its price following the reopening of Terra Classic’s Shuttle Bridge. The Shuttle Bridge reopening enables users to transfer their LUNC and USTC assets bridged from networks such as the Ethereum mainnet, BNB Chain (BSC), and Harmony back to Terra Classic.
WLUNC Soars 28% As Terra Opens Shuttle Bridge
In a recent development for Terra Classic users, the Shuttle Bridge has been reopened, allowing for the transfer of wrapped assets back to the network. This update has sparked a 29.99% Wrapped LUNA Classic price surge to $0.00008246 alongside an increase of 28.94% in the WLUNC market cap.
Concurrently, the trading volume for WLUNC increased massively by 237.75% to $173,906.22, indicating heightened trading activity and investor interest. This bullish trend in WLUNC demonstrates the market’s positive reaction to the updates to facilitate asset management and redemption.
Additionally, The bridge’s reopening enhances WLUNC’s liquidity and ensures users retain control over their cryptocurrencies.
However, LUNC price reaction was mild, with a 0.65% surge at the time of writing. The token has, however, broken the $0.00008406 intraday resistance level, signaling a potential rally.
WEEX and Binance to Contribute to LUNC Burn
Crypto exchange WEEX in a post on the X platform revealed its motive to stand firmly with the Terra Luna Classic community and the LUNC revival efforts.
The Terra Luna Classic community’s token burn campaign to reduce the LUNC circulating supply finds support of another crypto exchange. Singapore-based crypto futures trading platform WEEX announced commitment to burn 30% of LUNC trading fees, similar to Binance burning 50% of trading fees for LUNC burn mechanism
Crypto exchange WEEX in a post on the X platform revealed its motive to stand firmly with the Terra Luna Classic community and the LUNC revival efforts.
The Terra Luna Classic community’s token burn campaign to reduce the LUNC circulating supply finds support of another crypto exchange. Singapore-based crypto futures trading platform WEEX announced commitment to burn 30% of LUNC trading fees, similar to Binance burning 50% of trading fees for LUNC burn mechanism
LUNC Price Grinds Closer To A Technical Breakout
The ongoing sideways trading in the narrow range means that Terra Classic is experiencing a squeeze signalling a larger breakout in the short term.
Based on the Bollinger Bands, a tighter squeeze could validate a gigantic move in LUNC price. A successful retest of the lower boundary will prop the token for a huge leap.
FOMO is bound to kick in as LUNC climbs above the next immediate supply area at $0.0002. The move to $0.00025 and $0.0003 would be drastic and could set the pace for a parabolic rally above $0.001.
#LUNC🔥
The ongoing sideways trading in the narrow range means that Terra Classic is experiencing a squeeze signalling a larger breakout in the short term.
Based on the Bollinger Bands, a tighter squeeze could validate a gigantic move in LUNC price. A successful retest of the lower boundary will prop the token for a huge leap.
FOMO is bound to kick in as LUNC climbs above the next immediate supply area at $0.0002. The move to $0.00025 and $0.0003 would be drastic and could set the pace for a parabolic rally above $0.001.
#LUNC🔥
Terra Classic Genuine Labs Proposal Officially Passed, LUNC Burn Rate Skyrockets
LUNC burn rate has significantly increased this month with an average daily burn of 200 million tokens. As per StakeBin data, 1.3 billion LUNC tokens were burned this week. The decline in supply has caused a more than 2% rise in futures open interest on major derivatives exchanges.
LUNC burn rate has significantly increased this month with an average daily burn of 200 million tokens. As per StakeBin data, 1.3 billion LUNC tokens were burned this week. The decline in supply has caused a more than 2% rise in futures open interest on major derivatives exchanges.
Terra Luna Classic Votes on v2.4.2 Upgrade Proposal
Software upgrade proposal “Upgrade v2.4.2” is live now for voting on the Station wallet, seeking validators and community approval to update the terrad client to v2.4.2 (upgrade name v7). If the proposal is passed, Terra Luna Classic chain will be halted at block height 17309000, expected at 14:00 UTC on March 25. The voting on the proposal closes on March 15.
Software upgrade proposal “Upgrade v2.4.2” is live now for voting on the Station wallet, seeking validators and community approval to update the terrad client to v2.4.2 (upgrade name v7). If the proposal is passed, Terra Luna Classic chain will be halted at block height 17309000, expected at 14:00 UTC on March 25. The voting on the proposal closes on March 15.
Lunc has the best opportunity to make #Crypto history before the next bull run. Even if you think it’s a gamble it’s worth the risk. 🌕🚀
#LUNC/USTC
#LUNCPriceSurge
#LUNC/USTC
#LUNCPriceSurge
