1.2% Tax Burn to be Implemented As StarShip Accepts Terra Classic (LUNC) as Payment Method

The Terra Classic (LUNC) community has sealed a collaboration with StarShip, after the LUNC community connected with StarShip CEO Matt Albright to forge a new path forward. Therefore, StarShip has implemented LUNC into its ecosystem as one form of payment.

StarShip Universe Now Accepts LUNC

StarShip protocol is an automated system that incentivizes users to refer, utilize and engage within its ecosystem to increase the utility, accessibility, and liquidity of the StarShip token. 

Following the collaboration between StarShip and the Terra Classic project, LUNC is now accepted as a payment option within the StarShip Universe. Accordingly, 1.2% of all Terra Classic (LUNC) tokens received as payments will be burned.

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Meanwhile, in a bid to reduce the circulating supply of LUNC, the Terra Classic community had earlier put forward a proposal to implement a 1.2% burn tax mechanism. On June 26, Proposal 3568 passed successfully after gaining a majority of the community votes.

Eventually, the burning of LUNC will gradually give rise to a scarcity of the now-community-driven token as they aim at reducing the token’s circulating supply.

Interestingly, with the StarShip collaboration, the LUNC community has taken another massive step towards growing the token and increasing its value having collapsed badly in May.

The securing of this use case for LUNC comes at the right moment as the project may require more notable developments to draw investors’ attention again.

As StarShip welcomes the Luna community, it is said that this collaboration will strengthen the foundations of both StarShip and Terra Classic (LUNC) ecosystems.

Related: Old Terra Tokens Surging: Meteoric Rise in Price of LUNC and USTC to Boost Investors’ Interest –Santiment

Can LUNC Rise Again?

Following the de-pegging of TerraUSD (UST) in May which caused its partner token LUNC to plunge aggressively, several investors were thrown into huge losses. Accordingly, many have lost faith in the project. 

However, Terra Classic, which is now a community-driven project intends to right the course of the token’s activity and also give it multiple use cases, with or without the support of its original creator, Do Kwon.

Recently, LUNC has shown outstanding performance and it is believed this could change investors’ sentiments towards it. As shown here, LUNC has risen over 107% in the last 55 hours.

Speaking of Do Kwon and TerraForm Labs, several lawsuits and investigations have been taking place to ascertain the cause of the collapsed Terra ecosystem.

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