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HomeCryptocurrencyThis New Terra Classic Project Allegedly Burned 1.3 Billion LUNC: Details

This New Terra Classic Project Allegedly Burned 1.3 Billion LUNC: Details

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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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

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