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$LUNC As of today, approximately 32.29 million LUNC have been burned, contributing to ongoing efforts to reduce the supply of Terra Luna Classic. The community and exchanges like Binance support these burns to counter LUNC’s initial hyperinflation, which reached over 6.5 trillion tokens after the Terra ecosystem crisis in 2022. Daily burns vary, but an average of around 427 million LUNC is removed from circulation each day. Long-term, community efforts continue with an updated 0.5% burn tax on transactions to help stabilize and potentially increase the token’s value. For live updates and historical burn information, you can check trackers like LUNC Metrics and LuncScan.
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#LUNC How LUNC is Burned The Terra Classic community and developers have created several mechanisms for LUNC burning: 1. Transaction Fee Burns: A percentage of transaction fees on the Terra Classic network are set aside to be burned, directly removing those LUNC from circulation. 2. Community-Driven Burns: Some exchanges and community groups have held special events or campaigns to encourage users to burn LUNC voluntarily. 3. Proposal-Based Burns: Governance proposals sometimes include specific burn rates or mechanisms to manage supply further, depending on community vote outcomes.
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Today, approximately 39.17 million Luna Classic (LUNC) tokens have been burned as of October 31, 2024, which contributes to an ongoing effort to reduce its circulating supply. The burn rate varies daily, often influenced by transaction volume and contributions from supporters and entities like Binance, which significantly aids in burn efforts by donating trading fees. The overall strategy is to limit the LUNC supply, aiming for a potential price increase over time.
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