Terra Classic Boosts Hexxagon.io with 30M LUNC Delegation

The Terra Classic Foundation (TCF) is continuing its efforts to rebuild the Terra Classic community after the UST de-pegging. With low demand for LUNC, the altcoin has dropped around 40% in the past four weeks amid the ongoing crypto correction. Despite this, TCF, a non-profit organization based in Estonia, has delegated an additional 30 million LUNC to Hexxagon protocol. This brings their total delegation to 930 million LUNC across different protocols, ensuring the smooth operation of the Terra Classic blockchain.

Strengthening the Network:

Recently, TCF also delegated more LUNC coins to Delight Labs and Vegas Morphs, among others. All validators are encouraged to participate in TCF’s delegation program to enhance network decentralization.

Recovering from Past Challenges:

The initial Terra Luna crash in early 2022 heavily impacted the Terra Classic blockchain's adoption. Despite other layer-one blockchains gaining significant traction, TCF is focused on reviving LUNC and its related web3 projects.

Future Prospects:

The Terra Classic blockchain aims to foster a vibrant Web3 ecosystem with secure smart contracts. According to Defillama, the Terra Classic network has around $2.09 million in total value locked (TVL) across various projects, including Astroport Classic, Terraswap, Loop Finance, and Eris protocol. Binance's support through periodic LUNC burns has also bolstered the network, with around 1.7 billion LUNC burned earlier this week, totaling over 12 billion LUNC and 68 million USTC removed from circulation.

Market Performance:

LUNC's price has declined approximately 15% in the past week, trading around $0.00007106 on July 4, 2024, amid the broader crypto correction. Despite this, LUNC shows potential for a bullish reversal in the coming months, suggesting an investable rebound.