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Tag: LUNC

MEXC Global Becomes The First Lead Exchange To Support LUNC Tax Proposal And It Burns Over 25.4M In The Last 48 Hrs
Cryptocurrency

MEXC Global Becomes The First Lead Exchange To Support LUNC Tax Proposal And It Burns Over 25.4M In The Last 48 Hrs

The supply of the LUNC has been greatly reduced over time as the various platform added support to the token. Recently, a blog post was released saying that the crypto exchange MEXC Global unveiled its plan to add support to the LUNC community burn tax proposal between 10:00 September 3 to 10:00 September 17 (UTC). https://twitter.com/MEXC_Global/status/1566406957942026240 MEXC Global stated:“To support the burn tax proposal from the Terra Classic (LUNC) community, MEXC will launch a time-limited burning event for spot trading fees of LUNC/USDT and LUNC/USDC,”  Recall, that the LUNC tax proposal stated that a 1.2% tax be applied on all on-chain transactions and burns. MEXC Global said the spot trading fee for LUNC trading pairs will be adjusted to 1.2%. MEXC notes that it ...
Tota Burned LUNC Stands At 3.08 Billion As 1.2% Burn Proposal Is Duly Followed
Cryptocurrency

Tota Burned LUNC Stands At 3.08 Billion As 1.2% Burn Proposal Is Duly Followed

The LUNCARMY has resumed their activities with full force as the number of tokens burned now hit over 3 Billion LUNC. The good news was revealed on the LUNC Burn’s Twitter handle in the course of analyzing the volume traded in the last 24 hours. https://twitter.com/LunaBurn_13/status/1562885463891152896 According to the tweet, the LUNC volume traded in the last 24 hours is $157 million and per the 1.2% burning proposal which was passed some month ago which says 1.2% of transactions in the community will be burned to maintain the price of the token. Read Also: Binance Sets To Update Its Cardano Nodes Ahead Of Vasil Hard Fork As reported by the LUNC Burn; “Total burned LUNC stands at 3,080 billion. The volume traded in the last 24hrs is $157m, 1.2% of that is $1.88m at these p...
Terra Tokens (LUNC And LUNA) To Be Listed By Poloniex Exchange On The 17th Of August
Blockchain

Terra Tokens (LUNC And LUNA) To Be Listed By Poloniex Exchange On The 17th Of August

The Terra ecosystem is called to anticipate the enlisting of its tokens Terra (Terra (LUNA) and Terra Classic (LUNC)) by a giant cryptocurrency exchange, poloniex. The exchange stated, “We’re excited to welcome Terra (LUNA) and Terra Luna Classic (LUNC) to Poloniex.” The update was revealed via poloniex’s official website. It is interesting that despite the recent Terra collapse when all think all hope is gone, Poloniex announces support for its tokens. The Poloniex stated: .blockspare-9ab56878-3664-4 .blockspare-block-container-wrapper{background-color:#f9f9f9;padding-top:20px;padding-right:0px;padding-bottom:20px;padding-left:0px;margin-top:30px;margin-right:0px;margin-bottom:30px;margin-left:0px;border-radius:null}.blockspare-9ab56878-3664-4 .blockspare-image-wrap{backgroun...
Despite The Allegation Against The Terraform Labs, The U.S. Community Now Target Improving LUNC On Via Burning Mechanism
Cryptocurrency

Despite The Allegation Against The Terraform Labs, The U.S. Community Now Target Improving LUNC On Via Burning Mechanism

The LUNA community in the U.S has despite the various lawsuits against the Terraform Labs CEO, Do Kwon, Daniel Shin, and Terraform Labs shifted their target to the burning LUNC. Since this time, the LUNC’s price has revealed bullish potential, trying to overcome the bear. The community is now focused on the proposal 3568 for the enhancement of the LUNC through the integration of the burning method. This proposal stated a tax burn mechanism or method to limit the overall supply of LUNA classic, therefore increasing the remaining tokens. as stated, the burning will continue till the circulation remain 10 billion. Read Also: Businesses That Have SHIB Investors Among Their Employees Can Now Offer Them An Opportunity To Get Paid In SHIB: NOWPayment Read Also: FOMO Pay To Use Ripple...
Do Kwon Answers Users On LUNC Network Upgrade.
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
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
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.
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.
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?
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...