**Professional Proposal to Reduce $LUNC Supply to 1 Billion with an Incentivized Burn Mechanism**
**(Proposal: Incentivized $LUNC Burn Mechanism to Reduce Supply to 1 Billion)**
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### **1. Executive Summary:**
> Given the significant inflation in the supply of **Terra Classic ($LUNC )** (current: ~5.8 trillion), we propose a mass burn mechanism supported by incentivized rewards to reduce the supply to **1 billion** coins, overseen by **Binance** as a strategic partner. The idea revolves around a **"LUNC Fees"** system that rewards burn participants with shares of network fees, boosting demand for LUNC and sustainably increasing its value.
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### **2. Proposal Details:**
#### **A. Primary Objective:**
- Reduce LUNC supply from ~5.8 trillion to **1 billion** by burning **99.98%** of the current supply.
- Elevate LUNC’s value through artificial scarcity while ensuring network sustainability.
#### **B. Proposed Mechanism:**
1. **Creation of "LUNC Fees" Token:**
- For every **1 million LUNC** burned, users receive **1 LUNC Fees** (tradable token).
- **90%** of LUNC transaction fees (on-chain and exchange-based) will be distributed to **LUNC Fees** holders.
- **10%** will be allocated to the Terra Classic network for development (if transactions occur on-chain) or retained by exchanges (if on centralized/decentralized platforms).
2. **Binance’s Role:**
- Oversee the burn process by adding a **"Burn LUNC"** button within the exchange’s wallet interface.
- Automatically distribute **LUNC Fees** to participants.
#### **C. Target Timeline:**
- Achieve **1 billion LUNC** within 18-24 months (based on current burn rates and enhanced incentives).
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### **3. Benefits to Binance:**
- ✅ **Increased Trading Volume:** Incentivized burning will drive higher LUNC trading activity on the platform.
- ✅ **New User Acquisition:** The rewards system will attract investors seeking long-term returns.
- ✅ **Enhanced Reputation:** Binance’s leadership in "reviving" LUNC will solidify its position as an innovation-friendly platform.
- ✅ **Additional Revenue:** The 10% fee allocation will generate revenue for Binance as a technical partner.
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### **4. Technical Implementation:**
- Develop a **smart contract** on the Terra Classic network to:
- Track burned LUNC amounts.
- Automatically mint **LUNC Fees** tokens.
- Distribute fees weekly to holders.
- Integrate an API with Binance to enable direct burning.
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### **5. Call to Action:**
We request Binance to:
1. Submit this proposal for voting via **Binance Voting**.
2. Provide technical support to link the burn mechanism to the smart contract.
3. Promote the program through its marketing channels.
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### **6. Community Backing:**
- **Endorsement from the Terra Classic community.**
- **Support from Terra Classic developers.**
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### **7. Conclusion:**
This proposal delivers a **tripartite benefit**:
1. **For the LUNC Community**: Increased value + network sustainability.
2. **For Binance**: Higher revenue + competitive edge.
3. **For the Market**: A model incentivizing anti-inflation mechanisms in cryptocurrencies.
We urge Binance to lead this historic initiative, transforming LUNC into a scarce, high-value asset
