Terra classic community hasn’t given up on the effort of reducing its token to the target amount, 10 billion LUNC as they are looking forward to the arrival of a new Casino on the Terra classic network that will aid the LUNC burning.
According to a tweet shared by Rexyz saying “9/4 favourite that a new casino will soon be in town supporting Terra Classic and burning LUNC,” Harrison wrote. “LUNC might even score for the FIFA World Cup.”
Casino To Burn As Much As Six Month Terra Classic’s Burn
In addition to the update released, the independent Terra Classic development group, TerraCVita ascertained the speculation by Rexyz which noted that a popular casino could burn as much as 24 billion Terra Luna Classic in 6 months, almost as much as the entire community has managed to burn in the last six months.
“That’s just one dApp that can burn nearly as much as all LUNC burned in the last six months,” the group wrote. “Imagine what a thriving ecosystem could burn.”
It is worth noting that the number of decentralized applications on the Terra Classic network has been on the increase ahead of the v23 upgrade which was designed to take off by the Q4, 2022 as it was recently confirmed that the upgrade will make the Terra classic network completely Cosmos interoperable with technological parity with LUNAv2. Consequently, developers expect a massive increase in the number of projects building on and for the network to attract its budding community.
According to the Cryptolifidigital’s report, the TerraCVita confirmed that the Decentralized exchange is on the track as it will be the best furnace for the hottest DApp transaction.
It is worth noting that the Terra classic community has been devising a series of methods to get the LUNC circulating supply reduced from a whopping 6.9 trillion to 10 billion. For instance, the team has brought out a tax burn proposal that has greatly aided the LUNC reduction, allowing the exchanges like Binance and some others to participate in it.
The update from CoinMarketCap revealed that the total circulating supply of the LUNC token now calms at 6.012 trillion which was expected by the community to be less than that.
In addition to the burn proposal, the developing team behind the Terra Classic network designed a lottery game which will reward the winner and also contribute to the LUNC burn.