In a significant development for the Terra Classic ($LUNC ) project, reports indicate that Terraform Labs has been ordered by courts to burn all remaining $LUNC tokens in its wallets. Following this directive, the company has reportedly executed a burn of over 249 billion LUNC, signaling the conclusion of its direct involvement with the network.
This event represents a critical transition for the Terra Classic ecosystem. With Terraform Labs' central role concluded, the project is now fully decentralized and community-driven. All future decisions, from protocol upgrades to financial policies, will be governed by on-chain voting and transparent processes involving validators and token holders, thereby removing any central authority.
Despite this move toward autonomous governance, the market's reaction remains cautious. Some investors are reportedly awaiting the outcome of ongoing legal proceedings involving Do Kwon, with a key ruling anticipated in December 2025. Market analysts, however, suggest that a favorable resolution to these legal issues could serve as a powerful catalyst, potentially leading to renewed investor interest, significant capital inflows, and a subsequent increase in the value of LUNC.
The future of the Terra Classic network now rests entirely in the hands of its global community, setting the stage for its next phase of development and growth.