The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. Post-attack snapshot to be taken at Terra Classic block 7790000 (2022.05.27 03:59:51+08:00) Since then a burn program has been initiated, but it is proceeding very slowly. 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. from a hard fork. was wiped out from the market in a matter of days. coins sent to it. Tax Burn for LUNC on Terra Classic (LUNC) Network Temporary suspension of LUNC network transfers at 20 September 2022, 18:00 UTC Sep 20, 2022 The Terra community has passed Proposals 3568 and 4159, which will introduce a 1.2% tax burn for all on-chain transactions of LUNC on Terra Classic network. As a result, LUNC price plummeted from over $100 in April to less than 1 cent about a month later. Terra Classic Price | LUNC Price Index, Live Chart and USD Converter - Binance 2023-02-28 - The live price of LUNC is $0.0001621 per (LUNC / USD) today with a current market cap of $958.86M USD. At Criptokio.com we have prepared an article with the complete list of cryptocurrency exchanges that have agreed to burn Terra Luna Classic (LUNC) under the new 1.2% tax: Which exchanges have agreed to burn 1.2% on Terra Luna Classic (LUNC)? This makes up just making up just 0.055% of the circulating supply. If youve already voted and disagree with the changes, please vote No - you have 5 more days to do so. How to burn Shiba tokens? So what is the next course of action for LUNA holders? 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. 30% unlocked at genesis; 70% vested over 2 years thereafter with 6 month cliff 36% increase. [Online]. TERRA LUNA CLASSIC HUGE BURN || PRICE EXPLODING RIGHT NOW more to come ! Go, champions, 2023 CMC: Global Crypto User Adoption Outlook with CZ, The Nemesis: interview with Poseidon DAO for the talk show in the metaverse, TradingView integrated into Bitget's crypto exchange. If you are going to burn your luna, convert it to UST and burn UST instead Reply Fit-Boomer . Get top exchanges, markets, and more. The new Terra Luna network might have launched - but coin burns of Luna Classic (LUNC) and TerraClassicUSD (USTC) have both risen in recent days. If my work helps you, consider a small donation. This according to data from within. support of the Terra community, Binance decided to donate all LUNC trading fees to the burn. CoinCodex is a cryptocurrency data website that tracks 23334 cryptocurrencies trading on 418 exchanges and provides live crypto prices. The founder of Terra, Do Kwon, has said that he has a recovery plan in place. Yesterday, February 9, the LUNC burning tax made it possible to destroy 68,683,935 LUNC crypto. Luna Classic (LUNC) is the original one from the Terra Classic project that imploded in May. are also proposals to restructure UST debt, but that is an evolving discussion. Pi Network Mainnet: When Is Pi Coin Launching? 200195 LUNC Everything there is to know, Copy trading: how it works and which are the best platforms, Cryptosmart, cryptocurrency tax problem solved by Italian exchange, How to use Polygon in DeFi and earn MATIC on AAVE, Binance will auto-convert the main stablecoins into BUSD, Continuously losing money in the Crypto Market? through links on our site, we may earn an affiliate commission. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. A paid subscription is required for full access. terra1u9a6k9wrp6v07gz34vpuyq3tyzg47qagc8wkmn Luan Marketcap May 22, 2022 - Posted in terraluna by luna // 1M Luna: 1 year cliff, 4 year vesting thereafter This will assist speed up the flow of UST out of the system, bringing it closer to its peg and driving down the price of Luna. All tokens locked or vesting are staked at genesis, and must be unbonded to become liquid. The #BurnLuna hashtag trended on Twitter throughout the voting process. So at this time it is not surprising that both LUNC and LUNA perform poorly in the markets, partly because enthusiasm for them has now died down. Details are subject to change. This as most cryptocurrencies saw minimal gains. A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. As a Premium user you get access to the detailed source references and background information about this statistic. What Is The USD Tether (USDT) Scam Story About? But that plan failed, and hence, this new revival plan is now being put to use. Though the trade in the toke was halted and it was delisted from a number of Indian exchanges. statistic alerts) please log in with your personal account. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The idea behind this is to decrease the overall supply of Luna Classic, thus increasing the demand and value of the remaining tokens. The recent launch of the Luna Classic and its community-driven development initiative have brought forth proposals 3568 and 4059 which have been passed with an overwhelming 99% approval from validators. Then you can access your favorite statistics via the star in the header. lost a huge portion of my savings. ", Statista, 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 Statista, https://www.statista.com/statistics/1317271/luna-burn-rate/ (last visited March 02, 2023), 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], Statista, October 5, 2022. burn. Dogetti And XRP Have Interesting Updates The Market Can Look Forward To, Luna Classic should not be confused with Luna. Recover a Bitcoin wallet.dat password in 2 minutes! The next burn is scheduled for Tuesday, October 11, at 00:00 UTC. This initially seemed to be the method favoured by Binance CEO CZ. Learn more about how Statista can support your business. To use individual functions (e.g., mark statistics as favourites, set Therefore, it was decided that returning the burn rate to its previous level of 1.2% would be beneficial for the network. This Terra Luna Classic (LUNC) Burn Tracker Updates In Real Time. The crypto industry was left flattered when the fall of Terra almost wiped out $60 billion from the market valuation. Proposal 4059 is focused on reintroducing the staking functionalities to the Luna Classic platform. As of now, 8 validators have voted, with 7 voting in favor and 1 against the proposal. $LUNA added since last Tweet: 7,062,603 ($1382.72). So, in order to increase the supply of TerraUSD, LUNA tokens need to be burned. It is worth noting that since Binance introduced these measures less than a month ago, 18 of the 22 million LUNC tokens have been burned so far in five months. There is an updated tracker on TerRarity that shows how many LUNC tokens are being removed. Although no official announcement has been made concerning an increase in burns, a Twitter user brought some interesting data to light. original chain, now called LUNA Classic. Your email address will not be published. While data shows that some burn transactions were being carried out, they were largely insignificant when compared to how were being created. Send terra to a Luna wallet, can it be fixxed. Dex - Astroport, Loop, Terraswap, Pheonix 069336 LUNC 9,800,590,920. 897698 xUSTC Total supply 6,625,007,029,657. Crypto trader, under the pseudonym ashwsbreal, revealed transactions showing that 300 Billion LUNA tokens were burned on 18 May. 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