Terra Luna Classic Community Launches USTC Burn Proposal
Details of the USTC Burn Proposal
The new USTC burn proposal aims to burn a total of 46.55 million USTC through contract migration, with a focus on wallets associated with the Mirror Protocol.
While these burns have garnered attention in 2023, external investors have remained uninspired by the recent news due to their minimal impact on prices.
A previous attempt at a token burn proposal failed due to insufficient contract balances.
Now, the community has renewed its focus on the issue. Chris Amani, CEO of TerraForm Labs, indicated during a community meeting that TFL plans to burn all Terra Classic assets.
