Terra Rebels, the group behind the development of the imploded blockchain Terra Classic, has announced the launch of its own decentralized application (Dapp), which is capable of helping to burn more LUNC tokens on the Terra Classic network.
The new development was announced on the 28th of October via the official Twitter handle of the development group.
Terra Rebels announces that our first layer 2 application is ready for launch. You can navigate our website and participate here: https://t.co/OJSShSYp6l
Cost: 5,000 lunc per ticket 🎟️
Duration per round: 7 Days 🗓️There is a full description on our discord. pic.twitter.com/dsliWF5HQ6
— Terra Rebels (@TerraRebels) October 28, 2022
It’s worth noting that this is Terra Rebels’ first decentralized application on the Terra Classic chain. So, the launch is accompanied by a lottery in order to make it memorable. Users who want to participate in the lottery must find the Dapp via the Terra Rebels official website and connect their LUNC wallets.
Read Also: Terra Classic Launches Proposal for Community Development Grants Program: Details
According to the report shared on Twitter by the group, one lottery ticket costs 5000 LUNC, which is relatively $1.2 at current prices. The information added that the game, which will last for seven days, will select a winner at the end of each round.
It’s revealed by the team that the winner of the lottery will be entitled to 60% of the pool. 26% will be burned, 6% to the builders of the Dapp, 7% to the Rebels, and 1% will remain in contract reserve.
It should be noted that the purchase of the ticket is on-chain. So, users should expect the usual 0.2% tax on each transaction, which will also bring about more LUNC burns.
Follow us on Twitter, Facebook, Telegram, and Google News
