The Terra Classic (LUNC) community is making bold strides in reducing token supply, with hopes of driving value higher. Hereâs an exciting update as of November 2024:
Binance Leads the Charge đ: Binance continues to champion LUNCâs deflationary efforts, recently burning over 1 billion tokens in a single transaction as part of its regular burn schedule. Since joining the movement, Binance has contributed nearly 137 billion LUNC tokens to the overall burn tally!
Massive Burn from Terraform Labs đ„: A groundbreaking 251 billion LUNC tokens were burned by Terraform Labs, primarily from its Shuttle Bridge wallets. This strategic move, part of a settlement, represents one of the largest single burns to date.
Shrinking the Supply đ: The total circulating supply now stands at approximately 6.81 trillion LUNC, thanks to consistent efforts from the community, which regularly burns smaller amounts on a weekly or monthly basis.
Whatâs Next? đź: The next major burn event is set for December 2024, aligning with Binanceâs monthly burn schedule. Binanceâs unique mechanism ensures 50% of trading fees collected from LUNC spot and margin trading are burned, continuing its unwavering support for the community.
With nearly 400 billion LUNC tokens burned in 2024, the Terra Classic community is proving that united efforts can shape the future. The journey to a leaner, more valuable LUNC is heating upâstay tuned for December's game-changing burn!