There have been billions of #LUNC burns in the Terra Classic chain.
More importantly, there have been very serious #USTC burns. ▪️ Burns continue. I think our followers who are asking why it is not reflected in the price at this stage do not understand the situation in LUNC and USTC at all. Are you in the negative? Are you in the positive? I don't know. I think you should review your #TerraClassic investments. You should leave small accounts. This chain is getting back on its feet. It is getting rid of its burdens. Daily accounts are not made while these situations are happening. ▪️ The supply burned; LUNC and USTC funds that are currently in the passive. We have both written and said this. Everyone knows it. However, the same questions continue to come. There may be different reasons why the price has not increased. We will detail this later.
Binance Sends 1 Bln Terra Luna Classic (LUNC) to Burn Address
The #TerraLunaClassic community saw 1.048 billion LUNC tokens burned by crypto exchange Binance, as per the burn transaction on November 1. Also, the burn transaction saw tax costs of 5.2 million $LUNC
.
In the 27th batch of the LUNC burn mechanism, the crypto exchange burned $95,073.99 in trading fees for the period between September 30 to October 30. The total LUNC burned by one of the top crypto exchanges has now reached nearly 66.66 billion #LUNC✅ tokens.
It’s important to note that Binance burned 1.14 billion LUNC in the previous batch of the monthly burn mechanism. The exchange burns 50% of LUNC spot and margin trading fees monthly to support the Terra Luna Classic community’s revival efforts.
The community has burned nearly 137 billion LUNC tokens in 2 years. The community now hopes to see major LUNC and USTC burn as part of the bankruptcy court’s decision to Terraform Labs. #TetherAEDLaunch
We keep breaking ATH on staking #LUNC✅ .This is very important as we take more and more coins out of circulation. This will help stabilize the price as well... congratulations #lunatics 🎊 #TerraClassic 🔥 $LUNC #USTC.智能策略库 $USTC #lunaclasic #lunccommunity 👏
Over 726 million USTC were burned after the Terra Luna Classic community approved proposal 12135 to burn tokens in Anchor Protocol via contract migration. With Terraform Labs (TFL) cleared to wind down operations by a US bankruptcy court, the community expects billions of LUNC and USTC burns from related projects. Over 726 Million USTC Burned After Proposal Passes In the major news for the LUNC community, more than 726 million USTC were burned through Anchor Protocol contract migration. The burn came after the community approved proposal 12135 to burn tokens in wallets of Terraform Labs-owned Anchor Protocol. The proposal was passed narrowly by the Terra Luna Classic community with 27.23% votes in favor. Among validators, nearly 25% voted “Yes” and 48% voted “Abstain” including Allnodes. However, 92% of delegators supported the proposal as the tokens belong to the community. The developer migrated Anchor Protocol contract to a new code via governance similar to Risk Harbor. However, the execution on the Mirror Protocol failed to burn 46 million USTC. The proposal is submitted again, but developer claims to investigate the reasons behind the failed execution. All Terra Luna Classic assets as stated by TFL CEO Chris Amani and ordered by the court judgment should be burned. TFL will not interact with Columbus-5 or Phoenix-1 chains after October 31. Any token burn or transfer will be difficult post the court-approved date. Follow Us Like Share Comment Repost #lunc #ustc $LUNC #luna #HotTrends
Binance exchange should burn #USTC as well as #LUNC . USTC re-peg should be the first priority in the Terra Classic chain. 🔶 LUNC supply will not matter once USTC stabilizes at $1. The chain will start working automatically and the LUNC supply will be burned automatically. ✴️ Binance stock market burning USTC will be a much more realistic and concrete support.