The LUNC community has been creative and strategic about reducing the total supply of LUNC tokens as LUNC DAO recent revealed in its tweet urging its followers on Twitter to destroy almost 333.7 million LUNC via a new campaign, $1 LUNC Burn.
$1 LUNC Burn Campaign Begins: LUNC DAO
LUNC DAO has big Twitter followers up to 95,342 followers called CEOs to incinerate at least $1 worth of LUNC to the burn wallet.
At the time when the news was filed, 3,500 LUNC equivalent to $1 and by calculation, a total of 333.7 million LUNC will be burnt if all the followers yield to the call.
LUNC DAO urged the community to join the campaign by sending at least 3,500 LUNC to the burn wallet using the memo “CEO Burn”.
There has been a huge success following the new strategy, as a screenshot of a series of burns initiated regarding the new strategy from the wallet’s blockchain data was shared by LUNC DAO.
It is worth noting that Binance takes the lead in the total LUNC of 14 billion. It is barely a week since Binance started its LUNC burn.
Exchanges Have Been Supporting LUNC Tax Burn, CetoEX Recently Added Its Support
The LUNC Tax Burn proposal has been released more than a couple of weeks ago. Exchanges like Binance, KuCoin, MEXC Global, Lbank, Huobi, Bitrue, Gate.io, CoinInn, Kraken, and CryptoCom have recently supported the proposal and out of these, only Kucoin, MEXC Global, CoinInn, and eToro support burns on LUNC trading.
Following the support of MEXC Global, initiated its 14-day LUNC burn event which was concluded on the 17th of September with the burning of over 466 million LUNC tokens.
Furthermore, the CetoEX recently added its support to the LUNC as promised to implement the proposal on both on-chain and off-chain LUNC transactions.