Since May 18, 2022, the Terra Luna Classic community has burned over 85 billion LUNC tokens, marking a significant milestone.
This ongoing effort to reduce the circulating supply of LUNC has reached a significant milestone, with Binance accounting for more than 51% of the total tokens burned. The burning initiatives are critical for improving the Terra Luna Classic ecosystem’s utility and sustainability.
5.83 trillion LUNC tokens are already in circulation, out of a total supply of 6.82 trillion LUNC. Binance has contributed nearly 43.6 billion LUNC to the burning process, demonstrating its commitment to the Terra Luna Classic community.
Binance, other exchanges, and community members work together to consistently burn tokens, with an average of 200 million LUNC burned weekly.
Binance alone burned around 4 billion LUNC tokens during the sixteenth round of the LUNC burn on December 1st.
Binance and other exchanges’ introduction of USTC perpetual contracts and new pairings for USTC and LUNC increased spot and margin trading volumes, contributing significantly to the burn.
In response to a sequence mismatch issue that affected several validators during the introduction of the dyncomm module, core developer L1TF completed the Terra Luna Classic v2.3.2 upgrade.
This significant upgrade ensures that validators, community-accepted developers, and trustworthy members can continue to interact with the Terra Classic chain seamlessly.
The Terrad Client v2.3.2 upgrade addresses issues encountered by validators and node operators, making modifications smoother when the chain experiences automatic halts.