It is clear that we are in the most exciting period for the Terra Classic chain. As a result of the developments that have been taking place in the last two years after the collapse, we are focused on the developments that will take place in October.
In the two-year process, we clearly understand that the most important priority for TerraformLabs has been the lawsuit with the SEC. There were many messages that we would return with the LUNA project, but we saw that TerraformLabs' concern was to get rid of the lawsuits with the least damage.
TFL also abandoned the LUNA 2.0 project and burned all of its LUNA tokens, leaving the project to the community.
The LUNA 2.0 project is currently controlled by the Phoenix Directive.
Developments in the litigation between TFL and SEC have made us even more excited about LUNC and USTC.
We don't know exactly why TerraformLabs ignored the Terra Classic community, but thanks to this ignorance; LUNC and USTC emerged from the lawsuit process with minimal damage. In fact, they became stronger.
In line with the decisions taken; TFL must burn all LUNC and USTC tokens it holds by October 30, 2024. Funds that remain locked in the shuttle bridge and are not used by their owners will be burned during this process and no rights can be claimed by the rights holders.
LUNC and USTC shootings continue on the Shuttle Bridge. It will continue for approximately 25 more days. Daily shootings are at a very low level.
You can be sure that 99% of these funds in the Shuttle Bridge will be burned. Approximately 255 billion LUNC and 177 million USTC are expected to be burned.
The funds in the Shuttle Bridge do not belong to TFL. They are funds that were locked in networks like BSC, Harmony, Ethereum when the Terra Network was shut down. They belong to the users but have been forgotten by their owners.
In addition to the Shuttle burns; TFL's own funds will be burned. We will understand what will happen to the funds in the Luna Foundation during this process.
What will happen to the funds in the Luna Foundation is very, very important. This issue remains unclear. There are 1.86 billion USTC and 222.7 billion LUNC. In addition; #AVAX , #BNB and BTC are also in significant amounts.
It was announced that these funds would be distributed to UST victims, but after the agreement with the SEC, the possibility of burning them began to be discussed. We will understand what will happen in October.
There are many reasons to be excited about Terra Classic. We recently burned approximately 770 million USTC on the Mirror and Anchor Protocols.
#Binance The burns continue uninterrupted. We follow the LUNC burns of the Binance exchange at the beginning of each month.
During this process; it is very important for you to remain calm as investors. It is obvious that there will be positive developments, but this should not make you FOMO about the price of LUNC and USTC. It is clear that there is a calculation in these two coins. Those who make this calculation will continue to test your patience.
Lately, there have been many predictions, expectations and information that will affect investors. Although it is very difficult not to be affected by these and not to have expectations, it is also beneficial to be cautious.
You should make your calculations based on the visible data for Terra Classic. The visible data is very clear. You should develop your own interpretation based on this data.
In the two-year period;
LUNC and USTC burns continue unabated.
There have been serious mass burnings at USTC and more to come
Binance burns for LUNC never end.
The Terra Classic community pool continues to grow steadily.
The amount of #LUNC staked on the Terra Classic chain is increasing.
Quality validators are coming for the development of the Terra Classic chain. The number of validators has been increased to 110.
A great community has formed. Terra Classic news is being made and followed on almost every platform.
Most importantly, the lawsuit process is over. Question marks regarding the supply will be removed and we will be able to see the real information clearly.
A Terra Classic chain that has survived the lawsuits excites us. It is normal for it to excite you too, but do not let this situation give you great expectations. At this stage; you can be sure that the LUNC and USTC price is secondary for those who develop the Terra Classic chain.
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