Tuesday, December 6

Allnodes Burns Over 56 Million LUNC Tokens And Plans To Initiate Weekly LUNC Burns Till The End Of 2022

Per a Twitter handle, Allnodes is urging the LUNC community to stake via the platform, it also said that it had sent over 56 million LUNC tokens to dead wallets as it burns from its 5%  commission.

Allnodes Now Burns LUNC

Allnodes noted in its tweet; “56,706,118 LUNC were burnt earlier today by Allnodes,” the validator tweeted. “Delegate to Allnodes and participate in our weekly ritual until the end of 2022!”

Read Also: Terra Classic Becomes 60th Largest By Total value Locked (TVL) Having 12.36 Million Last Month

The proof for the Allnodes’ transaction can be seen for confirmation on the LUNCPenguins official website designed by HappyCattyCrypto with the description Allnodes burn. 

Allnodes Becomes The 9th Largest LUNC Burner

It is worth noting that Allnodes has become the 9th largest LUNC burner while the Binance tops the list with over 8.5 billion LUNC burns and the 1.2% tax burn claims about 6.5 billion of all LUNC burned. 

However, decreasing the on-chain volume following the integration of the LUNC 1.2% tax burn proposal has urged the community to push for tax reduction. It is worth noting that at the moment, the community is voting to reduce the tax to 0.2% while setting aside 10% of the tax collected for development activities by routing it to the community pool.

Read Also: FatMan Comment On The LUNC Tax Burn Proposal Prompts Terra Rebel’s Responses

The community has voted Edward’s proposal as a yes after seeing the accuracy of his analysis despite its urgency.

It is no doubt that the LUNC community is on a journey of no going back in pushing the token to its apex in terms of price and others. For instance, after the launch of the tax burn proposal, many exchanges have added their support.

Exchanges like Binance, KuCoinMEXC Global, Lbank, Huobi, Bitrue, Gate.io, CoinInn, Kraken, and CryptoCom have recently supported the proposal and out of these, only Kucoin, MEXC Global, and CoinInn will keep burns on LUNC trading.


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