The Terra Luna Classic (LUNC) community has been facing increasing resistance to recent burn proposals, which are designed to reduce the LUNC supply and help boost its value. Several pro-LUNC burn initiatives, including a recent one aiming to burn 1 billion USTC and 275 billion LUNC, have been met with internal challenges, especially regarding community and governance disagreements.
LUNC's price has been on a downward trend, with many attributing it to the lack of decisive action on these proposals. The reluctance to implement large-scale burns and difficulties in migration of protocols like Mirror and Anchor have contributed to uncertainty. Moreover, with Terraform Labs (TFL) winding down operations by the end of October, the community is racing against time to get burn proposals approved before the chance slips away.
The result of this indecision has been a steep price dive, pushing LUNC into vulnerable territory. If community efforts donât align soon, LUNC could struggle to recover, leading to further declines in price and market sentiment.
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