The Luna Classic (LUNC) community aims to burn 6 trillion $LUNC tokens, a daunting task given the current statistics. So far, only 84 billion tokens have been burned, representing just 1.23% of the total supply. With a burn rate of $5,500 worth of LUNC burned daily and a 0.5% transaction tax, it could take over 3,000 years to achieve this ambitious target.
Factors That Could Accelerate the Burn Process:
Increased Transaction Volume: A surge in trading activity could significantly boost the daily burn amount.
Higher Burning Tax: Increasing the transaction tax could lead to a faster accumulation of burned tokens.
Exchange Contributions: Platforms like Binance that burn transaction fees monthly can contribute positively to the overall burn.
Community Involvement
The ongoing efforts of the community are crucial. Tracking LUNC burns is possible through various platforms, allowing followers to monitor progress. This collective effort not only aims to reduce supply but also has the potential to increase the value of LUNC over time.
Conclusion
While the goal of burning 6 trillion $LUNC tokens is a long and challenging journey, community support, an increased burn tax, and higher trading volumes could expedite the process.
Stay informed and engaged as the community works towards this ambitious target!
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