LUNc Burn Archives - Cryptolifedigital

Terra Classic Community Debates Innovative Strategy to Restore LUNC Value to $1

19Sep

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic Community Debates Innovative Strategy to Restore LUNC Value to $1

In the wake of the Terra Collapse in May of this year, the Terra Classic community has been tirelessly working to re-establish the stability of its native stablecoin, USTC, and boost the value of LUNC above $1. However, previous attempts have fallen short of achieving this goal. In response, a prominent figure within the community, known as Rex, has put forward a set of recommendations aimed at breathing new life into LUNC and Terra Classic. Read Also: Terra Classic Community Proposes Bold Measures to Recoup USTC Value https://twitter.com/RexYellerBelly/status/1703717784054644890 Encouraging Network Growth Rex's strategy centres on fostering network growth as a means to drive up the price of LUNC. He points out that Terra Classic has been successful in attracting developers to its ...

Terra Classic (LUNC): Exploring Factors for Potential Price Ascension Amidst Recovery Efforts

12Aug

By CryptolifedigitalNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC): Exploring Factors for Potential Price Ascension Amidst Recovery Efforts

The Terra Classic ecosystem, represented by the token LUNC, has faced significant challenges since the collapse of the original Terra (LUNA) ecosystem. Amid a bearish crypto landscape, LUNC has struggled to regain its footing, with unprecedented losses evident across various performance metrics, including total value locked (TVL) and other key indices. As the token's price hovers below the psychological $0.1 level, the prospect of a substantial recovery might seem improbable. Factors to be considered in driving LUNC prices upward Despite the formidable obstacles that the Terra Classic project has encountered, there are factors worth considering that could play a pivotal role in driving LUNC's price ascent to levels like $0.1. To facilitate this upward trajectory, the establishment of an ...

Terra Classic Community Passes Crucial Proposals to Address USTC Stability

9Aug

By OLAJIDE SAMUEL1 Comment

Terra Classic (LUNC)

Terra Classic Community Passes Crucial Proposals to Address USTC Stability

In a significant stride towards stabilizing the TerraClassicUSD (USTC) stablecoin, the Terra Classic (LUNC) community has successfully passed two pivotal proposals. These initiatives are aimed at restoring equilibrium to the USTC stablecoin by addressing the extensive supply and facilitating a gradual re-pegging process. 1st Proposal The first proposal, known as "Proposal 11658," was submitted by a prominent LUNC community member named Vegas on July 30. This proposal advocated for the return of a substantial amount of USTC, totalling 800 million, to the Terra Classic community pool. The funds in question were originally allocated for the underwriting capacity of the Ozone Protocol back in March. However, due to deviations from the proposed development plan, these funds were not fully uti...

Terra Luna Classic Community Debate On Burning Over 800 Million USTC Tokens. Would This Influence LUNC Price?

27Jul

By Tolulope ZaccheausNo Comments

Terra Classic (LUNC)

Terra Luna Classic Community Debate On Burning Over 800 Million USTC Tokens. Would This Influence LUNC Price?

The Terra Luna Classic community finds itself embroiled in a heated debate over the allocation of 800 million USTC tokens linked to the Ozone Protocol, raising concerns about the project's deviation from its proposed development plan. The contentious discussion has sparked opposing viewpoints among prominent community members, Vegas and Alex Forshaw, each proposing different courses of action for the tokens. Terra Classic Community Debates On 800 Million USTC Tokens In Ozone Protocol Vegas, a former member of the Ex-Terra Rebels developer group, has taken the initiative to bring this matter to the forefront. He strongly believes that the 800 million USTC tokens should be reabsorbed into the Terra Classic community pool due to the Ozone Protocol's perceived failure to adhere to the propos...

Binance Heeds LUNC Rebel’s Call for More Trading Pairs on LUNC

24Jul

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Binance Heeds LUNC Rebel’s Call for More Trading Pairs on LUNC

In a recent tweet by LUNC Rebel, a prominent supporter of the decentralized finance (DeFi) project Lunacia (LUNC), the call for Binance, one of the world's leading cryptocurrency exchanges, to add more trading pairs for $LUNC has gained significant attention. This appeal has sparked excitement among investors and the broader crypto community, as they eagerly anticipate the potential benefits of increased accessibility and liquidity for the promising DeFi token. Read Also: XRP Market Analyst CoinsKid Predicts Potential Retracement Before Year-End Surge to $6 https://twitter.com/LuncRebels/status/1683124661801082880 Lunacia is a groundbreaking DeFi project that aims to transform the financial landscape by providing various decentralized financial services on its blockchain platform....

Terra Classic Tokens LUNC and USTC Record Significant Surges, Fueling Market Enthusiasm

17Jul

By Tolulope ZaccheausNo Comments

Terra Classic (LUNC)

Terra Classic Tokens LUNC and USTC Record Significant Surges, Fueling Market Enthusiasm

In an unprecedented turn of events, the popular Terra Classic ecosystem tokens, LUNC and USTC, have taken the crypto market by storm, experiencing remarkable rallies and posting impressive gains over the past 24 hours and seven days. LUNC Is up by 16.25% and USTC By 52.36% USTC, formerly known as TerraUSD (USD), has witnessed a surge in its value, although it has not yet reached parity with $1. Currently trading at $0.01798, USTC has demonstrated a remarkable 52.36% increase in price over the last seven days, with a further appreciation of over 12% in the past 24 hours. This sustained surge, which began on June 14, has led to the trading of more than 8.17 billion USTC, equivalent to over $146 million, in the last 24 hours alone. Consequently, USTC's market capitalization has exceeded $17...

Terra Classic Community Makes Strides Towards USTC Revitalization, Forms Partnership with Binance

13Jul

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic Community Makes Strides Towards USTC Revitalization, Forms Partnership with Binance

The Terra Classic community is buzzing with renewed hope as efforts to revitalize the collapsed ecosystem algorithmic stablecoin, TerraClassicUSD (USTC), gain momentum. In a recent development, renowned community member Redline Drifter revealed that the Quant Team focused on USTC repegging has established a connection with Binance, the world's largest crypto exchange. USTC To $1 With The Help Of Binance A direct line of communication has been opened between Binance and the USTC Quant Team, marking a significant step forward in resolving Binance's concerns regarding the proposed divergence tax protocol. The community is pushing to achieve parity for USTC with $1, and this strategic communication channel aims to address any infrastructure issues and explore alternative applications of the ...

Addressing the Key Priorities for LunaClassic: Trust Or APY. What Do You think Is the Issue?

29Jun

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Addressing the Key Priorities for LunaClassic: Trust Or APY. What Do You think Is the Issue?

The LunaClassic community has identified two significant challenges that require immediate attention: the loss of trust from the outside world and the need to prioritize APY (Annual Percentage Yield). In this article, we will delve into these concerns and explore potential solutions that can help revitalize the project. Loss of Trust: The community's primary concern revolves around the loss of trust in LunaClassic from external parties. While community initiatives have been commendable, many believe that the impact would be amplified if there was a maximum supply in place. Currently, the absence of a capped supply undermines the long-term viability and sustainability of the project. Read Also: Coach Bruce Wrangler Says He Would Only Come Back To LUNC Network Provided He Gets 90% Comm...

A Total Of 3.21 Billion LUNC Is Burned Over The Past Week, 0.2% Parameter Removes A Total Of 168 Million LUNC From Circulation

24Oct

By OLAJIDE SAMUELNo Comments

Cryptocurrency

A Total Of 3.21 Billion LUNC Is Burned Over The Past Week, 0.2% Parameter Removes A Total Of 168 Million LUNC From Circulation

In the past week, a total of 3.21 billion LUNC was removed from circulation as stated by LUNC burn data. The data revealed that on 17th October, total LUNC burns were 19.5B, more also, on Sunday, October, 23rd, total burns reached 22.7B. So 3.2B LUNC were taken out of the circulating supply in the past week. Read Also: Custodial and non-custodial Wallets: Definition and Differences https://twitter.com/LunaBurn_13/status/1583977253318590464 3.21 Billion LUNC Is Removed In The Past Week Over 3 billion LUNC has been incinerated in the past week and the recent addition came from the 0.2% burn tax and the voluntary efforts made by exchanges to burn fees for Terra Classic spot and margin trading pairs. It is no doubt that Binance had done dramatically in the ongoing LUNC bu...

LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail

21Oct

By CryptolifedigitalNo Comments

Cryptocurrency

LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail

It seems the reduction of the tax burn parameter is working as expected as the LUNC trading volume spike as noted in a recent tweet shared by Classy crypto. Recall that the reason for the reduction of the tax burn parameter from 1.2% to 0.2% was that the former resulted in a decline in the trading volume. Read Also: Ripple Says SEC Has No Legal Proof To Qualify XRP As A Security LUNC Trading Volume Spikes By 2X https://twitter.com/ClassyCrypto_/status/1583168137209712640 Per Duncan Day, the author of the proposal; “Gentle reminder that we need to measure this 7-days post-tax to give a reasonable assumption that it has increased volume on-chain,” Day wrote. “Given that I found 7-days enough to determine burn tax efficacy, it is only fair to give the same objective viewpoin...