Please find below a summary of key information regarding the LUNC coin burn. 🔥**
The Terra Luna Classic ($LUNC C) community has been advocating for coin burns to reduce the substantial circulating supply and enhance scarcity. Please find below a brief overview of the latest updates:
Please clarify what LUNC Burn is.
A "coin burn" refers to the permanent removal of LUNC tokens from circulation by sending them to an unrecoverable wallet. This will reduce supply, which may lead to an increase in demand and prices over time.
Please find below a report on the company's recent progress with regard to the matter of employee burnout.
- Community-led burns: To date, over **70 billion LUNC** have been burned.
Binance Burns: The world's largest crypto exchange, Binance, has contributed significantly, burning **billions of LUNC** monthly through trading fee deductions.
Tax Burn Mechanism A 1.2% tax on transactions has been identified as a strategy to automate burns and steadily decrease supply.
The importance of this matter cannot be overstated.
Supply Reduction
The circulation of LUNC NC could potentially increase the value of the market.
It is evident that there has been an increase in scarcity. Burns has adopted a deflationary model similar to that of Bitcoin.
The community has demonstrated a strong commitment to the revitalization of LUNC, expressing unwavering support for its reopening.
Future Outlook
With consistent burns and growing community efforts, LUNC's long-term potential remains a hot topic. Will we witness a significant price surge? Only time will tell.
What are your thoughts on this matter? Will LUNC burns lead to a price rally?🚀
