Recent Token Burns and Community Efforts to Boost LUNC

The new tax proposal comes after previous token burns that were supposed to decrease the total supply of $LUNC

and in turn boost the asset’s price. In the last burn cycle, Binance burned more than 1.048 billion #LUNC✅ , taking the total burned tokens by the community to about 137 billion.

Concurrently, 49,472.28 LUNC were burned in a single transaction on the network recently. These ongoing burn initiatives show that the community is committed to decreasing the supply and increasing the value of LUNC.

Moreover, #TerraLunaClassic has gone further to expand their ecosystem whereby they have delegated 30 million LUNC to VegasMorph which now puts Terra Classic delegation at 990 million LUNC. This delegation is part of wider efforts to defend the validators and other important participants of the network.

In early July, the #TerraClassic Foundation also delegated another 30 million LUNC to hexxagon_io, which operates and manages Galaxy Station and Galaxy Finder.