3.5 years ago, Luna Classic was a rare project that everyone envied, filled with very talented developers, and where Cz was constantly in close contact with Do Kwon. When Terra was mentioned, the projects that everyone talked about with praise came to mind, but at that time, neither Solana, Avax, nor Sui even had a name, they were not a rival formation. Back then, neither Solana, Avax, or Sui even existed; they weren't competitors. The
$LUNC target price was around 1,000$, and analysts believed it could rise to that level quickly.
However, after the big crash in May 2022, the project was filled with narrow-minded software developers who only aimed to earn staking income.Luna Classic is widely viewed as a failed, bankrupt project. It's been 3.5 years since the collapse, lagging far behind projects like Avax, Solana, and Sui, and has only gotten worse since.
During this time, people were promised false hopes by focusing solely on token burns. No projects, no innovations, no meaningful collaborations, no investors showed up and couldn't withdraw, and the
#USTC repeg promises made no progress at all...
Of course, some people will be offended by what I've written, because they're happy and living off their staking income.