Auto-Burn and Auto-Withdraw Coming to Terra Classic Staking. Here’s the Significance

The Terra Classic community should be preparing to welcome auto-burn and auto-withdraw to the LUNC staking system as a proposal to introduce the features is set for approval via governance voting.

The proposal tagged 11391 needed approval from the Terra Classic community members to add buttons that enable users to automatically burn their staking rewards on Terra Station at specified intervals, such as daily, weekly, monthly, or yearly.

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The proposal, which was summited about a week ago, is targeted at automating burn activities to boost the community effort of drastically reducing the LUNC tokens in circulation.

Although most validators are showing a lack of interest in the proposal, there is a tendency that it will pass eventually because those who chose to vote all went for “Yes”.

Classy, a prominent crypto influencer and a validator operator, took to Twitter to reveal his support for the potential initiative. He stated that his validator has voted “Yes” to add Auto-Withdraw and Auto-Burn buttons on LUNC staking.

Class tweeted, “We’ve voted “YES” to add an Auto-Withdraw & Auto-Burn button on $LUNC staking. Great idea! Happy Staking.”

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In order to elaborate on the importance of the proposal to the Terra Classic community, Classy shared a video on his YouTube channel. In his explanation, he stated that many LUNC enthusiasts have reached out to him to demand the inclusion of a burn button on Terra Station to make LUNC burn easy and consistent.

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