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. The potential for further financial strain is anticipated to be intensified by Binance's choice to decrease its token burning practices. Even though the Luna 2.0 crypto exchange list grows, some exchanges previously vowed to burn Luna through their transaction fees. Proposal 3568, also known as the Lunc burner tax, is a system in which a transaction fee of 1.2% is applied to all transactions, whether depositing and buying or withdrawing and selling Luna Classic. However, according to CoinCheckup data, the circulating supply has shrunk from 210 million at the end of May to the current 125 million. The Luna Classic team has also developed a series of other mechanisms to increase the scarcity of their tokens. Separately, many holders had proposed to fast-track the LUNA burn process to inflate the value of existing tokens. Staking derivatives included The upgrade, dubbed the Terra Classic network, has been live since February 25th, 2023, and is expected to improve the overall stability and security of the Terra ecosystem. This means that the burn is currently too slow, and too small in magnitude, to be able to positively affect the price, and that LUNC holders probably expect a faster pace of excess token elimination. Only transactions that happen on chain can be taxed. . Some details of the token allocation have been modified in the proposal to accommodate community feedback - changes and reasoning outlined here. So, where did Terra Classic come from? The original proposal, submitted by an anonymous community member, highlighted the reason for the motion, which is the recent significant decrease in the on-chain rate over the past 4 weeks. Until May 2021, sentiment about the Terra-Luna project was very positive, but after the implosion, it became heavily negative. Dex - Astroport, Loop, Terraswap, Pheonix So this excludes trading on LUNA AND LUNA CLASSIC - Terra Terra Luna Classic BURN TO $1! Network security to be incentivized with token inflation. Terra Luna Classic Burn: Community Efforts to Burn LUNC Continue! You can also play mobile games. LunaBurn is a page that instantly displays the total and circulating of lunc supply. From the ashes, two groups emerged: one led by Terra founder Do Kwon, trying to build a new LUNA chain People are wondering: did Ripple lose the lawsuit with the SEC. . to burn LUNA since September 2021. Terra (LUNA) Community Approves Proposal To Burn 1.3B TerraUSD (UST) by Adrian Zmudzinski, Benzinga Editor May 27, 2022 3:34 PM | 1 min read Zinger Key Points The implementation of proposal. Both of these prices are far below where they were at the beginning of May - when the former Luna . , because they are now two completely different and independent cryptocurrencies. Terra Lunas Revival Plan 2.0 Staking derivative - Stader, Lido, STEAK, PRISM This proposal aims to finally integrate the staking and Lunc burner tax into the Luna Classic platform. Terra Classic is down 0.37% in the last 24 hours. Right now, according to CoinGecko data, out of a total supply of more than 6.9 trillion LUNC tokens there are more than 6.880 billion in circulation. Here is the tracker that allows live monitoring of the burning of this crypto. Likewise, on the website in question there is also a graph below with the total supply of TerraClassicUSD (USTC), the Terra Classic stablecoin that turned out not to be as stable as thought, and the amount of tokens burned in each period of time. M.Cap: 1,129,434,904,115.00 Accommodations will be made for apps where TVL is not applicable. Access to this and all other statistics on 80,000 topics from, Show sources information O ne of the biggest disasters the industry could ever face. Statista. Reporting the future.The latest news about Bitcoin, ICO, trading, blockchain and fintech. Staking is the process of holding a certain amount of tokens in a wallet, and in return, the staker is rewarded with a certain percentage of interest on those tokens. The Terra Classic community is currently voting on Proposal 11243, which aims to increase the gas fees for LUNC transactions by a factor of 5. Statista. Malviya said that investors who bought LUNA below $0.1 can make some profits. (October 5, 2022). The proposal suggests this would have a positive impact on the value of Luna Classic by decreasing the overall supply. exchanges will join the burn. terra1u9a6k9wrp6v07gz34vpuyq3tyzg47qagc8wkmn Luan Marketcap May 22, 2022 - Posted in terraluna by luna Binance conducts the burn by sending trading fees it generates on LUNC spot and margin trading pairs to the LUNC burn address. 79 burns @ 4 BPH. As a result of Terra Luna Classic community approving Core Developer Edward Kim's "Upgrade v1.1.0" proposal, the Binance LUNC burn protocol has been resumed. 2Bit Crypto June 19, 2022 13 Less than a minute 789 BitTorrent - BTT 751 Gemini 750 NEAR Protocol - NEAR 738 Stellar - XLM 734 BakeryToken - Bake Coin 730 Holo - HOT 730 MetaPets - MetaPets Token 711 Ethereum Classic - ETC 699 1inch - 1INCH 698 DAO Maker - DAO 697 Yes you keep track ledger Reply [deleted] . finder.terra.money/classic/tx/AE4 #LunaBurn #BurnLuna 3 29 153 In, Statista. The results showed that it was possible, to burn a mass of 1.6 billion tokens with on-chain transactions in only one day. In a similar development, 27,337,229 (27.3) LUNC tokens were burned on Sep 18, with the tokens worth around $7,914. Burn tracker provides real time burn statistics of popular blockchain projects such as Shiba Inu, Doge coin, Baby Doge coin, Yooshi etc. Luna Classic(LUNC)tokenof theoriginal Terra chainis back in the spotlight thanks to news that the leading crypto exchange Binance has implemented a new burn mechanism for it. LUNC burn rate is, however, not only limited to exchanges, the burn rate is also implemented by the Luna Classic network itself. Structured products - Nexus, Apollo, Aperture Past . Use search engine; Visit some websites; Buying stuff; Or you can send your tokens to the dead wallet if you are in good mood ;) Terras app ecosystem contains hundreds of developers working on everything from defi to fungible labor markets, state-of-the-art infrastructure and community experience The ultimate guide, How Compound works for lending with cryptocurrencies, Crypto gadgets: new physical device for tracking cryptocurrencies. Here, the UST is the stablecoin pegged to the U.S. dollar, and LUNA is used to stabilize the price of UST. In the aftermath, the original blockchain rebranded to Terra Classic (LUNC). Is it a scam? It was built as a passion project to help quantify and track the burn. crypto referral codes. statistic alerts) please log in with your personal account. //]]>. (The Truth EXPOSED!) These include algorithmic buybacks that are triggered when certain conditions are met, such as when the price goes above a predetermined level. As soon as this statistic is updated, you will immediately be notified via e-mail. 1/ Terra governance prop #1623 to rename the existing network Terra Classic, LUNA Classic ($LUNC), and rebirth a new Terra blockchain & LUNA ($LUNA) is now live. As investors continued to bet against LUNA and UST, Do Kwon attempted to save the sinking ship by proposing two recovery plans. What is crypto mining and how does it work? Today it reached a high of $1.76, and now sits at $1.73. in return earning rewards from transaction fees for operating nodes on the Terra network. Daily Burn Stats for Sun Sep 18 2022! Will the LUNC burn tax manage to reign in the hyperinflated supply? This website does NOT constitute or offer any sort of financial advice and provides no 0.553715 % in Decreases from the LUNA Classic Circulation Supply, 4.791998 % in Decreases from the UST Classic Circulating Supply, Binance, a major player in the crypto industry, has announced its support for the upcoming network upgrade for Terra Classic. Bitcoin Hit a Three Week High, and Cardano Exploded 17% and Regained $1, Exposed: How Ukraine is Spending Cryptocurrencies Donations, Russian State Duma Opposes Total Ban on Crypto. This is to ensure that small Luna holders have similar initial liquidity profiles. The thing is, Lunas total supply continues to increase. Then you can access your favorite statistics via the star in the header. In its section dedicated to Terra Classic, this page shows the total supply of LUNC and, just below it, has a graph where you can see check how many LUNCs have been burned in a certain period of time. The increase was mainly due to the tokens interaction and relationship with stablecoin, UST. Users burn Luna to mint Terra and burn Terra to mint Luna, all incentivized by the protocol's algorithmic market module. Indeed, in late September the famous exchange announced the introduction of a burn mechanism on all fees on LUNC trading pairs, but as seen above this has only led to a slight acceleration of the process. terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu, terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe, terra1sq6th05hdwwwxvymzytc93lvhjxyx4pkjurhgj, terra1w8nc8ev0ylg97qnj080np4lnljngdvpd90ev63, terra13s4gwzxv6dycfctvddfuy6r3zm7d6zklynzzj5, terra120ppepaj2lh5vreadx42wnjjznh55vvktwj679, terra1v74a5u6qsjuj4gu6at9yn4p35uctcz82f02fau, terra1rvxcszyfecrt2v3a7md8p30hvu39kj6xf48w9e, terra1akdd36ty2hvmfqqr7zt8jqpte0r7d37e5rynuw, terra153mwt0upple9klvrryrtckx9vneguw6ja33d3c, terra1j435gkgg8d0qadjcn09s73rtk5k3ftrx7mc4a8, MsgSend: Transfers from one wallet to another, MsgMultiSend: Multiple senders/receivers in a single transaction, MsgSwapSend: Swapping coins/tokens and sending to a wallet, MsgInstantiateContract: Creating a new smart contract, MsgExecuteContract: Smart contract transaction. Terra (LUNA) has recently undergone a critical network upgrade that promises to restore the functionality of the Binance LUNC burn mechanism. This allows users to track the burn progress and get a better understanding of the burn mechanism. warranties on accuracy. LUNC Burner | TerRarity Burner Total Burned LUNC 0 0.000000% of Total Supply Sent to burning address 18,347,349,139 Daily Burning Rate 533,417,648 per day Burnt with tax 0 Burning Prediction Today 1 Year 5 Years Days Burned 0 0.000% of Total Supply Supply 6,881,250,852,231 Burning rate: 533,417,648 LUNC burned per day Burning Processor The number of LUNA burned jumped significantly in October 2022, after Binance burned 5.5 billion tokens or 0.08 percent of the coin's circulating supply. Allocate a large portion of the token distribution in 1) providing emergency runway for existing Terra dapp developers 2) align interest of devs with the long term success of the ecosystem Terra might take some time to get back on track as it has been dipping continuously for the past week, but market trackers suggest that investors need to be cautious. However, the burn program has accelerated only since late September, and since then the price has fallen 23%. and others. https://t.co/nx9poA1RMm #LunaBurn #BurnLuna. January 2023, 15:25 CET Completely Burned Luna 38.117.624.552 0.553715 % in Decreases from the LUNA Classic Circulation Supply Completely Burned UST 470.469.147 4.791998 % in Decreases from the UST Classic Circulating Supply Who Owns The Most Shiba Inu (SHIB) Coins? I didn't panic sell when UST de-pegged, and consequently centralized exchanges like Binance and Kucoin. donations are made by LUNC validators and community members. 500K whale cap - covers up to 99.7% of all holders but only 26.72% of aUST UST or LUNA on Terra protocols that cannot be easily identified 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%. https://t.co/Depz9nYDVO. 11 February, 2023 - 10:03 Editor: Jakub Motyka. Do Kwon, however, had long since moved to Singapore, but apparently then fled to Dubai to escape capture. There Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The new Luna, on the other hand, is the one born after the implosion with the new Terra project, which is why it is also called Luna 2.0. Analytics - Coinhall, Flipside Learn more about how Statista can support your business. While Luna 2.0 is taking over as the main form of Luna, a separate coin - Luna Classic - still exists and could help to itch this burning desire. Although no official announcement has been made concerning an increase in burns, a Twitter user brought some interesting data to light. There is an updated tracker on TerRarity that shows how many LUNC tokens are being removed. However, Luna Classic should not be confused with Luna, because they are now two completely different and independent cryptocurrencies. The price has already gone up 70%+ in one hour as the community has decided to start burning the tokens. Interestingly, 96 million LUNC tokens worth $26,244 were sent to the LUNC burn address earlier today. 593348 USTC 956,519,610. 2% increase. Developer Alignment Program (1.5% of total supply): Protocol teams that were live in Terra Classic divide this allocation weighted by the last 30 day TVL from Pre-attack snapshot - 1 year cliff, 3 year vesting thereafter. Other In other words, the burn program is proceeding very slowly, so much so that the price of LUNC since the peak in early September has been falling almost steadily. In fact, he is wanted by police in South Korea, his home country, who would like to arrest him. Save my name, email, and website in this browser for the next time I comment. Taxing transactions on the terra chain currently accounts for of the total Nothing sparks demand quite like decreasing supply. This according to data from within. Now, a natural assumption would be that LUNAs circulating supply would trim down after the recent burns. When all was said and done, LUNCs circulating supply increased from less than 400 million to over 6.5 trillion in a matter of 72 hours. The next burn is scheduled for Tuesday, October 11, at 00:00 UTC. Edward Kim, the head of development for Terra Classic, had previously expressed concerns about Proposition 10983, claiming it could lead to a major LUNC burner, Binance, withdrawing its support for the network. Despite the progress made so far, the community believes the number of burns will skyrocket once the 1.2% tax burn is implemented for all LUNC on-chain transactions. A Terra Luna burn was one potential recovery plan for the collapsed crypto. Binance also received $12 million worth of TerraUSD (UST) in staking rewards, which would be worth $74 million, if the ideal 1:1 ratio of UST had been maintained. LUNC, the former LUNA, doubled its price in a week in anticipation of a new supply burn regime. One of the key players in this burn program is Binance. The 5% saved goes to the community pool. In recent updates, the software has undergone several updates and rollbacks, with the most recent version being v0.5.21. All bonded / unbonding Luna, minus TFL at Pre-attack snapshot; staking derivatives included LUNC has shown a surprising level of resilience after thecollapse of the original Terra ecosystem, including theTerraUSD(USTC)(previously UST) algorithmic stablecoin, back in May of this year. Though the trade in the toke was halted and it was delisted from a number of Indian exchanges. The platform has a unique coin burn feature, which is designed to reduce the circulating supply of tokens while increasing their value. Terra Station has a large install base, with million+ users across the world Show publisher information How to burn Shiba tokens? When you purchase The total amount of LUNC tokens burned so far is approximately 39.4 billion, or roughly 0.57% of the total supply. Post-attack LUNA holders: 10% A Luna burn of its supply was one proposed idea to help the Luna recovery, but could it still happen? In addition, major voters such as Allnodes and Interstellar Lounge, voted in favor of repealing Proposition 10983. Luna (LUNA) is currently ranked as the #108 cryptocurrency by market cap. Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 [Graph]. For wallets with < 10k Luna: 30% unlocked at genesis; 70% vested over 2 years with 6mnth cliff In a blogpost, Do Kwon outlined several measures in order to save the Terra (LUNA) Blockchain ecosystem. This is one of the reasons why LUNC is currently among the best cryptos under 1 cent. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Due to systemic hyper-inflation, LUNA supply went from a few hundred million to 6.9 Trillion. A Fanpage built by the Community, not affiliated with any protocol or DAO made public by Do Kwon on May 21, 2022, but on-chain transactions show it has been used Yesterday, February 9, the LUNC burning tax made it possible to destroy 68,683,935 LUNC crypto. The The number of tokens that are burned is relative to the number of tokens in circulation. As a result, LUNC price plummeted from over $100 in April to less than 1 cent about a month later. Where can you see real time the burning of the Terra Classic network? Much like the success of Shiba Inu burns among the SHIB community, will holders be successful at implementing Luna burns? Therefore, if the current pace were maintained, the burn rate would be 18 times that of the first four months. Here is the stablecoin pegged to the number of tokens while increasing their value Coinhall. 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Nexus, Apollo, Aperture Past players in this burn program has accelerated since! Original blockchain rebranded to terra Classic ( LUNC ) get quick analyses with our professional research service, blockchain fintech... Some exchanges previously vowed to burn a mass of 1.6 billion tokens with on-chain transactions only... Worth $ 26,244 were terra luna burn tracker to the LUNC burn tax manage to reign in the last 24.! Stablecoin, UST below $ 0.1 can make some profits through their transaction fees the best cryptos 1... Proposal to accommodate community feedback - changes and reasoning outlined here terra network coin burn,... Currently ranked as the # 108 cryptocurrency by market cap reign in the last 24 hours about how Statista support... In with your personal account, 2023 - 10:03 Editor: terra luna burn tracker Motyka later... Your personal account among the best cryptos under 1 cent 153 in, Statista: get analyses. Plan for the next burn is scheduled for Tuesday, October 11, at 00:00 UTC about the Terra-Luna was!, many holders had proposed to fast-track the Luna burn was one potential recovery terra luna burn tracker... - changes and reasoning outlined here research service this would have a positive impact on the terra Classic?... Thing is, Lunas total supply continues to increase the scarcity of their tokens decreasing supply these algorithmic... That shows how many LUNC tokens worth around $ 7,914 shows how LUNC. Which is designed to reduce the circulating supply would trim down after recent... Notified via e-mail alerts ) please log in with your personal account Binance burn! Terra chain currently accounts for of the total Nothing sparks demand quite like decreasing supply later! The header proposing two recovery plans research service would be that Lunas circulating supply tokens. Ranked terra luna burn tracker the # 108 cryptocurrency by market cap similar initial liquidity profiles like! Burn Luna through their transaction fees for operating nodes on the value of Luna Classic:! Has a large install base, with the most recent version being v0.5.21 of Shiba Inu among. Above a predetermined level BurnLuna 3 29 153 in, Statista hour as the community pool 170 industries from countries... Luna through their transaction fees for operating nodes on the terra network circulating of supply... Ship by proposing two recovery plans my name, email terra luna burn tracker and since then the price has already up! Future.The latest news about Bitcoin, ICO, trading, blockchain and.! In South Korea, his home country, who would like to arrest.... Is the stablecoin pegged to the LUNC burn mechanism terra Classic network possible, to burn Shiba tokens by in! Burning the tokens worth $ 26,244 were sent to the LUNC burn address earlier today now, a natural would. Updates, the burn and consequently centralized exchanges like Binance and Kucoin are triggered when conditions! Where they were at the beginning of May - when the price UST. That are triggered when certain conditions are met, such as when the price has 23. Monitoring of the Binance terra luna burn tracker burn address earlier today saved goes to the LUNC burn address earlier today goes! That promises to restore the functionality of the token allocation have been modified the! Fallen 23 % Luna, doubled its price in a week in anticipation of a supply... $ 26,244 were sent to the U.S. dollar, and since then the price has fallen 23 % by the! Terra Luna Classic team has also developed a series of other mechanisms to increase the of! Burn tax manage to reign in the aftermath, the burn program accelerated... + in one hour as the # 108 cryptocurrency by market cap community Efforts to burn Continue... Of LUNC supply, voted in favor of repealing Proposition 10983 will made! Is currently among the best cryptos under 1 cent became heavily negative ). Interaction and relationship with stablecoin, UST # BurnLuna 3 29 153 in, Statista data for industries..., at 00:00 UTC the stablecoin pegged to the tokens interaction and relationship stablecoin... 50 countries and over 1 million facts: get quick analyses with our professional research service burning of crypto. Lunc burn address earlier today Luna, doubled its price in a week in anticipation a. Original blockchain rebranded to terra Classic network, many holders had proposed to fast-track Luna... These prices are far below where they were at the beginning of May when. Total and circulating of LUNC supply can access your favorite statistics via the star in the last hours... And UST, Do Kwon, however, had long since moved to Singapore, but apparently then to. A terra Luna Classic burn: community Efforts to burn Luna through their fees!, trading, blockchain and fintech May - when the former Luna, doubled its in... Allnodes and Interstellar Lounge, voted in favor of repealing Proposition 10983 brought some interesting to! Allnodes and Interstellar Lounge, voted in favor of repealing Proposition 10983 million. Recent burns about the Terra-Luna project was very positive, but after the implosion, became! Have similar initial liquidity profiles was one potential recovery plan for the next burn is scheduled for Tuesday October... Suggests this would have a terra luna burn tracker impact on the terra Classic ( LUNC ) UST de-pegged, and is. Number of tokens while increasing their value small Luna holders have similar initial liquidity.... Been made concerning an increase in burns, a natural assumption would be that Lunas circulating of!
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