According to a recent tweet by one of the leading Terra Classic community members on Twitter, @LUNCDAO, there are plans set out to revive the Terra Classic.
The entire Terra community has shown favoritism for The Classic Version of the Token (LUNC) over Terra 2.0 (LUNA), the official new digital asset. This is seen in the unending demand from the community for a massive token burn.
LUNCDAO is a community of long-term builders and community OGs who have been involved with LUNC since 2020.
The team members built many of the original dapps in the LUNC ecosystem, such as prism protocol with $150M TVL. They have a long track record of involvement in $LUNC than anyone. They are old school and have been there from the beginning.
They recently spent three months voluntarily donating the high majority of their yield without any financial incentive because they believe in $LUNC. Also, they spent all their free time campaigning to get staking + tax implemented.
LUNC Staking Program Starts In 3 Days
According to Twitter account information, the @LUNCDAO Validator Staking will be ready in 3 days.
https://twitter.com/LUNCDAO/status/1561594778843619328?t=90y_btz65D4mi-kmSsSqDw&s=19
Many people have described the staking as “giving people billions in rewards,” which they stated to be wrong.
According to the report, they maintained there’s no risk to users because if a bad actor or someone runs a validator for profit, users can immediately switch without penalty or delay. Bad actors will be immediately punished because the blockchain is transparent.
Secondly, according to the plan, they will burn it just like they did for their $LUNA validator. They stated that people would immediately switch to another community once a validator doesn’t do what they say they will do.
The discord account shows that as much yield as possible will burn $LUNC. Recall that this has always been what the community wanted after the Crisis.
https://twitter.com/LUNCDAO/status/1561423089304485890?t=WOijm8RLYKmQ6CsWRsL7DQ&s=19
The staking program is targeted to be 100% Community focused, thereby initiating the $LUNC burn and ecosystem revival movement. According to the plan, There was no financial incentive for this as it’s a pure donation to help $LUNC because they’d spent 18 months building before the crash.
This may be the only realistic move to salvage the crisis and get the community running again. Burning $LUNC is what the community has always wanted right from after the crash until a fork was proposed and even afterward.
Price Action
The Terra Classic price today is $0.000090 with a 24-hour trading volume of $43,822,146. Terra Classic $LUNC is up 0.50% in the last 24 hours, and its current CoinMarketCap ranking is at number #213, with a market cap of $590,300,988.
While The Terra ($LUNA) price today is $1.64 with a 24-hour trading volume of $51,470,005. Terra is reportedly down 1.18% in the last 24 hours, according to data from CoinMarketCap. With a market cap of $208,988,939, its current CoinMarketCap ranking is at number #228, which is way below $LUNC.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any service.
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