#terraluna

The Terra Luna Classic community is working hard to bring back the value of its stablecoin, USTC, to its original $1 value. This could potentially lead to a rise in the price of LUNC. The community sees this as an important step in reviving the Terra ecosystem, which has been struggling since the de-pegging crisis.

To make this happen, they’ve put out a $250,000 reward to encourage developers to come up with a strong and secure way to restore and keep USTC at its $1 peg. They may even raise the reward to over $1 million, showing how serious they are about this goal. Developers will submit detailed plans that will be reviewed and voted on by the community to ensure the solutions are safe and effective.

Besides the plan to re-peg USTC, the community is also thinking about increasing the tax burn rate from 0.5% to 1.5% to lower the total supply of LUNC. This idea, suggested by Terra Classic validator JesusisLord, aims to keep burning tokens until the supply of LUNC drops to 10 billion. If both of these strategies succeed, it could lead to a big increase in LUNC’s price and help it regain some of its former value.