DFLunc Archives - Times Tabloid https://timestabloid.com/tag/dflunc/ Cryptocurrency and Blockchain Tabs Mon, 27 Nov 2023 08:49:30 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://timestabloid.com/wp-content/uploads/2021/08/cropped-Times-Tabloid-Favicon-32x32.png DFLunc Archives - Times Tabloid https://timestabloid.com/tag/dflunc/ 32 32 This New Terra Classic Project Burns More Than Half a Billion LUNC Tokens: Details https://timestabloid.com/this-new-terra-classic-project-burns-more-than-half-a-billion-lunc-tokens-details/ Tue, 13 Jun 2023 07:20:20 +0000 https://timestabloid.com/?p=16590 The Terra Classic (LUNC) burn campaign has gained more support from a recently introduced project on the network. The project is known as DFLunc Protocol. It singlehandedly made the community witness the burn of over 628 million LUNC tokens. As data indicated DFLunc destroys tens of millions of LUNC tokens on a daily basis. It’s […]

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]]> The Terra Classic (LUNC) burn campaign has gained more support from a recently introduced project on the network. The project is known as DFLunc Protocol. It singlehandedly made the community witness the burn of over 628 million LUNC tokens.

As data indicated DFLunc destroys tens of millions of LUNC tokens on a daily basis. It’s worth noting that the whopping burn contribution from the new project has had a massive impact on the burn threshold in less than six weeks.

Read Also: KuCoin To Support LUNC Burn Tax Increase From 0.2% to 0.5%: Details

According to LUNCDash, the project’s incarcerated tokens stand at 628.2 million LUNC. Data on Terra Station show that its most burn took place on the 12th of June at 14:17 (UTC), involving 35.2 million Terra Classic tokens.

Data show further that DFLunc has managed to burn 379 million Terra Classic tokens in June so far. The fact that the burn happens on a daily basis indicates that the number will keep increasing.

In a tweet yesterday, the validator announced the latest burn and revealed that it has destroyed 3 billion LUNC since launch.

Read Also: LUNC to $1: Edward Kim Ramps Effort to Launch AI Project Supporting LUNC Burning

However, the figure indicated by the new project does not reflect on on-chain analytics platforms due to an issue with DFLunc’s wallet and the controversy in relation to the fact of the whopping figure.

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]]> This New Terra Classic Project Allegedly Burned 1.3 Billion LUNC: Details https://timestabloid.com/this-new-terra-classic-project-allegedly-burned-1-3-billion-lunc-details/ Sun, 14 May 2023 23:10:43 +0000 https://timestabloid.com/?p=15684 DFLunc is one of Terra Classic’s latest projects launched in April. Recently, DFLunc allegedly burned an estimated 1.3 billion LUNC tokens within two weeks of its release. Burning about 1.3B Luna Classic tokens implies that DFLunc burned more LUNC coins than Binance in May. Recall that Binance burned about 1.26 billion LUNC tokens within the […]

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]]> DFLunc is one of Terra Classic’s latest projects launched in April. Recently, DFLunc allegedly burned an estimated 1.3 billion LUNC tokens within two weeks of its release. Burning about 1.3B Luna Classic tokens implies that DFLunc burned more LUNC coins than Binance in May. Recall that Binance burned about 1.26 billion LUNC tokens within the past week.

What is DFLunc?

DFLunc is the latest validator protocol project in the Terra Classic Metaverse. The project was designed to rapidly deflate the circulatory pool of LUNC tokens to increase the market value of Luna Classic coins. The claim by DFLunc didn’t go down well with the public as they continue to speculate on different possibilities of DFLunc pulling off such a remarkable feat.

Read Also: LUNC to $1? Staked Terra Classic Tokens about to Hit 1 Trillion Milestone

Was There A Catch?

Amidst the uproar in DFLunc burned tokens, the operator of the HappyCattyCrypto debunked DFLunc’s initial claim of burning about 1.3 billion tokens. The operator ascertained that DFLunc only succeeded in burning 111 million. HappyCattyCrypto argued that the DFLunc project lacks the transparency that makes it possible to track burns in the platform.

However, further investigations revealed that the DFLunc actual contract address, which is not easily trackable, confirmed the burned 1.3B LUNC tokens. On the other hand, HappyCattyCrypto maintained that DFLunc main wallet still displays 111 million burned LUNC coins.

Read Also: Staked Terra Classic (LUNC) Reaches New High as Community Sights 1 Trillion Mark

Earlier, LBurn, a community-driven LUNC project, accused DFLunc of falsifying the figures of burned tokens by DFLunc. In a tweet on its official page, LBurn wrote, “I may have to apologize later if I’m wrong, but…

Something looks a little off about this code to me. Please be careful as there’s no real good explanation given as to why they’re burning more than Binance. If this project is legit, they have single-handedly solved our burn problem. And I will be the first to congratulate them.”

Eventually, the LBurn project team recognized the originality of DFLunc’s claims and apologized for its misleading statements.

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