Terra Luna Classic (LUNC) represents the original Terra blockchain following its dramatic collapse in May 2022. After the de-pegging of its algorithmic stablecoin UST, the original chain was rebranded as Terra Classic, and its native token became LUNC. While it once aimed to provide stable algorithmic stablecoins, LUNC now exists as a separate entity from the new Terra 2.0 chain and primarily functions as a community-driven project focused on reviving its ecosystem and value through various proposals, including token burns.