- WEEX has pledged to burn 30% of LUNC trading fees.
- LUNC burn support helps promote Terra Luna Classic while lowering the total supply.
Another cryptocurrency exchange has joined the Terra Luna Classic community’s token burn initiative in an effort to decrease the amount of LUNC in circulation. Similar to Binance’s 50% LUNC burn mechanism, Singapore-based crypto futures trading platform WEEX has pledged to burn 30% of LUNC trading fees.
In a post on X, cryptocurrency exchange WEEX disclosed its intention to strongly support the Terra Luna Classic community and the LUNC resurrection initiatives.
Collaborative Effort
In order to support the LUNC burn campaign, WEEX intends to contribute 15% of the trading fees collected from its Futures Pro and Spot platforms. This accounts for a substantial 30% of the exchange’s trading fees across all pairs, the statement said. As a part of the ambassador program, LUNC burn support helps promote Terra Luna Classic while lowering the total supply.
Among the LUNC holders who came forward to announce their involvement in the WEEX ambassador program was Mr. Diamondhandz, a well-known figure in the Terra Luna Classic community and owner of LuncLive validator. WEEX is a US and Canada MSB licensed exchange that does not charge maker fees and is not a KYC exchange.
With 2.21 billion LUNC tokens burnt in the 19th batch of the LUNC burn mechanism, Binance has burned over 53 billion LUNC tokens to date. In all, the Terra Luna Classic community has burned more than 102 billion tokens, with Binance’s net burn reaching more than 53 billion.
With renewed excitement and confidence, the Terra Luna Classic community celebrated the 100 billion LUNC milestone, which was part of a concerted effort to remove LUNC tokens. Binance sent 2.21 billion LUNC tokens to the burn address in line with the transaction that took place on March 1st.
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