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Do Kwon Answers Users On LUNC Network Upgrade.

9Jul

By CryptolifedigitalNo Comments

Blockchain

Do Kwon Answers Users On LUNC Network Upgrade.

Following the curiosity of one Twitter handler, THORchain.BULL who wanted to why a governance vote earlier passed to have the LUNC delegation re-enabled is never executed and more also the users that the LUNC governance never resumed implies that the Terraform Labs has control over it, Do Kwon reply as usual that the Terraform Labs has no control over LUNC and that whoever surfaced with the offer to start delegation should coordinate validators to mechanize the pathway to upgrade the network. Read Also: Shiba Inu is Now Accepted As Payment In Dripto, A Digital Marketplace https://twitter.com/stablekwon/status/1545600281534050305 According to the THORchain.BULL, he didn’t mean any negative but he was out of curiosity to bring it to the attention of other users. he added that if ...

StarShip Added Support To The LUNC And a 1.2% Tax Burn To Be Incorporated

30Jun

By Cryptolifedigital2 Comments

Cryptocurrency

StarShip Added Support To The LUNC And a 1.2% Tax Burn To Be Incorporated

The Terra classic has partnered with Starship, after the LUNC community connected with StarShip CEO Matt Albright to produce a new pathway, to achieve this, StartShip has incorporated the LUNC as a form of payment. Read Also: Grayscale's Offer Of Conversion To ETFs Has Been Refuted By SEC And Grayscale Go For Appeal StarShip protocol is an automated system that encourages druggies to relate, use and engage within its ecosystem to increase the mileage, availability, and liquidity of the StarShip token. Following the collaboration, 1.2% of all Terra classic( LUNC) commemoratives entered as payment will be burned. Although, in an attempt to reduce the circulating supply of LUNC. Fortunately, the new tax burn as a result of the partnership coupled with the former 1.2% burn of comm...

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

27Jun

By Cryptolifedigital1 Comment

Cryptocurrency

Terra USTC Returns To The Top 100 Crypto As It Spikes Almost 400% In The Last 24 Hours

Terra’s collapsed stablecoin USTC prices experience a sudden spike of almost 400% over the last 24 hours. And this resulted in the token entering the top 100 cryptocurrencies. Amid the volatility in the crypto firm related to Terra’s newly released token LUNA 2.0, TerraClassicUSD has striven to spike more than 400% over the past 7 days. It is trading at an average price of around $0.042, at the press time. USTC’s 24-hour trading volume has increased by 413% to stand at $83 million. Read Also: Shiba Inu Spiked 50% In Seven Days, Its Addresses Approach 1.2 Million USTC’s total market Cap added almost $200 million in the last 24 hours as gotten from the data from the Coin MarketCap. Presently, it calms around $402 million. The meant-to-be stablecoin has now grabbed the 84th spot amo...

Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.

23Jun

By Cryptolifedigital4 Comments

Blockchain

Terraform Labs CEO, Do Kwon said he has “great confidence” in the company’s ability to “build back even stronger” than before.

According to the Wall Street Journal, Terraform Labs CEO, Do Kwon said in an interview published on Wednesday, that he has “great confidence” in the company’s ability to “build back even stronger" than before. Kwon displayed a level of confidence in rebuilding the Terra blockchain following the collapse of its predecessor in May. The proposal to relaunch the Terra blockchain and fabricate a new token was initiated in May which was succeeded by majority votes among the holders of Terraform Labs’ Luna governance token. Read Also: Tether To Release A Stablecoin Pegged To The British Pound In Early July. The votes than were in favor of the creation of a new blockchain called Terra while by the side, the old version was renamed Terra Classic. “Many builders are in the pro...

The Ongoing Voting Has Given The New Proposal(50% of all LUNC transaction fees) burns Records of 93.2%, with 77.4 million LUNA committed.

11Jun

By Cryptolifedigital1 Comment

Cryptocurrency

The Ongoing Voting Has Given The New Proposal(50% of all LUNC transaction fees) burns Records of 93.2%, with 77.4 million LUNA committed.

After Do Kwon and Terraform Labs refused to yield to the community calls to burn LUNA instead of creating a whole new Chain, all seemed to be calm, until now. It so happens that not everyone was happy with Terraform’s game plan of not burning the tokens. A week ago, a team of developers has come up with a seemingly perfect solution of their own – launching a community-based DEX with the basic aim of burning lots of LUNC (Luna Classic). For maximum effect, the platform will be called “Burning DEX.” Read Also: 20 million OP moved by the attacker Due To The Wrong Address Sent By Wintermute As of then, there are currently close to 7 trillion LUNC tokens minted. The Terra community then (now TerraClassic) was always in favor of burning the excess minted tokens rather than creatin...

New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?

9Jun

By CryptolifedigitalNo Comments

Cryptocurrency

New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?

A LUNC investor has fielded a proposal to burn tokens and cause a sharp spike in price. For some time now, the Terra community has complained that Do Kwon and Terraform Labs have left LUNC and UST. A previous demand by the community for TFL to implement a LUNA burning mechanism was rejected, and Do Kwon and his team instead elected to create Terra 2.0. Currently, another proposal by a LUNC investor is causing ripples within the community and the crypto market. The proposal suggests a straightforward LUNC burning mechanism that will lead to a decrease in supply and a price increase. Read Also: Binance To PayPal Short Guide: How To Transfer Crypto From Binance To PayPal The LUNC Burning Mechanism As stated by the proposal, a 1.2% tax/burn will be implemented on all LUNC tra...

LUNC Price Spiked Strongly As the Community Passes ‘Tax/Burn 1.2% Proposal

9Jun

By Cryptolifedigital4 Comments

Cryptocurrency

LUNC Price Spiked Strongly As the Community Passes ‘Tax/Burn 1.2% Proposal

LUNC price was believed to gain significant bullish momentum since the onset as the community was not in favor of LUNA 2.0. The Terra community then (now TerraClassic) was always in favor of burning the excess minted tokens rather than creating a new chain. As the LUNC & USDTC prices are highly dependent on the number of tokens in circulation, the need of squeezing the tokens in circulation became mandatory. However, in a recent update, the community has passed the Tax or Burn 1.2% proposal for TerraClassic, LUNC. As stated by the proposal, for every buys/sells transaction, 1.2% of LUNC coins will be burnt until the supply reaches the 10 billion mark. Read Also: Ethereum adds 500,000 new addresses per week And Its Developers Successfully Activate the Merg...

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

7Jun

By CryptolifedigitalNo Comments

Cryptocurrency

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

Following the downfall of Terra (LUNA) and its subsequent relaunch as LUNA 2.0, the platform’s original chain, which is presently working under the name Terra Classic (LUNC), is garnering an incredible amount of attention among crypto traders. CoinMarketCap statistics indicate that Terra Classic is the second most-searched cryptocurrency on the site as of June 7th out of all the cryptocurrencies after LUNC was the most digital asset earlier on June 3rd. Read Also: Shiba Inu-Themed Burger Joint Shares More Details About Recent Exploit And Shiba Inu Might Soon Get a Utility Boost. More also, interest among investors is highlighted by the overall number of the unique addresses that hold assets in the network in the last month; on May 9th, there were 1,642 holders compared with ...

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

3Jun

By Cryptolifedigital2 Comments

Cryptocurrency

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

After Do Kwon and Terraform Labs refused to yield to the community calls to burn LUNA instead of creating a whole new Chain, all seemed to be calm, until now. It so happens that not everyone was happy with Terraform’s game plan of not burning the tokens. Presently, a team of developers has come up with a seemingly perfect solution of their own – launching a community-based DEX with the basic aim of burning lots of LUNC (Luna Classic). For maximum effect, the platform will be called “Burning DEX.” Read Also: Ethereum Beacon Chain Releases on a New Testnet in Preparation for Upcoming Merge Facilitate Burning Of LUNC There are currently close to 7 trillion LUNC tokens minted, and this huge number has greatly contributed to the troubles plaguing the Terra ecosystem. Burning DEX...

ChangeNOW all Ready to support LUNA 2.0 and LUNC

2Jun

By Cryptolifedigital2 Comments

Cryptocurrency

ChangeNOW all Ready to support LUNA 2.0 and LUNC

Instant crypto exchange service ChangeNOW permits for swapping LUNA—the coin of the new Terra 2.0 blockchain, as well as LUNC, the old mainnet’s token. As UST and the authentic version of LUNA crashed this May, the crypto industry was observing forward to a way out that would usher new life to the Terra blockchain. On May 16th, Terra co-founder Do Kwon suggested introducing the Terra Hard Fork, and the election process kicked off. On May 28th, the new Terra 2.0 blockchain went live. Read Also: Cardano Founder Shares Key Inputs into Project's Development Thousands of crypto enthusiasts who had lost faith in Terra were reassured by the team’s efforts to recover LUNA. Earlier in May, UST, the key stablecoin in the Terra ecosystem, lost its peg to the US Dollar after the Anchor proto...