Wednesday, June 19, 2024
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This New Terra Classic Project Burns More Than Half a Billion LUNC Tokens: Details

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

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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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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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