It has been designed to facilitate low-cost and secure transactions, with near-instant confirmation times. Many users hope that the burn tax will be instrumental in helping LUNC recover to its former glory. Compared to the pre-implosion period, LUNC has lost almost 100% of its value, but compared to the lows at the end of June it has gained 280%. One of the causes for this is the new staking service from LUNC DAO. This means that the value of deposits and withdrawals of LUNC to and from the Zonda exchange will be reduced by 1.2%. I built this site as a passion project. When you purchase The numbers provided have been gathered and calculated by Statista, from Bitquery and Messari.io, based on a tweet from LUNA CEO Do Kwon sent on May 21, 2022. This means that when a transaction occurs on the blockchain, tokens are burned automatically. few hundred million to 6.9 Trillion. Currently, there are two mechanisms to burn LUNC: on-chain taxation, and donations sent to the Proposal 44 will burn 90 million LUNA tokens held in Terra's community pool, minting almost $4 billion worth of the network's native UST stablecoin. Recently, the Terra Luna Classic community voted to introduce a burn mechanism, which was formalized after the passing of governance proposal 3569 and 4159.. As a result, LUNC protocol will . Read below to find out. No reason was provided why this was the case. Dapps in the Terra ecosystem are designed to increase UST demand, while the issuance of UST implies a reduction in the Luna supply. It did, technically, have the same effect as a burn could in reducing the supply, although deciding to restart the chain was a more nuclear approach. LUNC is the native token of the Terra Classic blockchain, which imploded this May, wiping out $60 billion in market value; the project's algorithmic stablecoin lost its peg to the dollar, and LUNC, the token that was supposed to be its stabilizer, fell into hyperinflation. 897698 xUSTC Total supply 6,625,007,029,657. An example to illustrate how this works: If a transaction is made to acquire 2 million units of Luna Classic, a 1.2% fee will be applied, which equates to a total of 24,000 Luna Classic tokens. Indeed, Do Kwon has now come out and said TerraForm Labs does not have the funds or coins to burn the Luna circulating supply. Do Kwon has given the community the official address for burning $LUNA Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its TerraUSD, Terra's native stablecoin, is backed by LUNA. All data is pulled from official api address LUNC is predicted to increase substantially in 2023. The official LUNC burn wallet address is: He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ". Post-attack UST holders: 15% The token is the 10th most traded crypto in terms of trading volume over the last 24 hours, at $363.4 million. However, support to the downside exists around the $0.00025 area, as well as around the September 26 low of $0.00018. //

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