DFLunc, a popular new Terra Classic project, has burnt over 1.6 Billion LUNC tokens in only two weeks thanks to its huge LUNC burn mechanism. In April, the DeFi protocol was released with the intention of burning billions of LUNC tokens at once, which would reduce the inflated circulating supply.
The previous few days have seen the burning of more than 1.5 billion LUNC tokens by an entirely new Terra Classic project, DFLunc that was introduced in April.As part of its monthly LUNC burn process, Binance burned 1.27 billion LUNC on May 1. After Binance, the total LUNC burn was
Developers at Joint L1 Task Force, working on Terra Classic (LUNC), have updated the rebel-2 testnet to version 2.0.0 with Cosmos SDK version 0.45. The May 31st Cosmwasm v1.1.0 update (parity) will enable projects and builders from Cosmos and Terra Luna 2.0 to once again construct on the Terra Classic
Many people are stunned to learn that the Terra Classic chain may soon get its first AI-powered application chain. Edward Kim, the project’s primary developer, published screenshots of the whitepaper for the Block Entropy artificial intelligence chain on Saturday. Updates for the AI app chain called Block Entropy. Still building.
Cremation Coin, a project on the Terra Classic network, just completed a weekly burn campaign in which it burnt almost 24 million LUNC. As a result of today’s enormous LUNC burn, Cremation Coin has already burned almost 369M LUNC in total. Even if the LUNC burn rate has been going
In order to remove the intervention of third-party services to buy, sell, or trade for transaction validation, cryptocurrencies are born. Since 2008, the crypto market is evolving to a position of aiming for a $5.15B global estimation in the year 2023. Soon in 2030, it is predicted to be doubled by
According to reports, Terraport, the newly released Terra Classic DeFi platform created by TerraCVita, has been hacked. On April 10, Terraport Finance stated through a tweet that it had discovered a security hole in the Terraport Liquidity wallet. The group is trying to fix the problem and safeguard the protocol.
South Korean regulator, Seoul Southern District Prosecutor’s Office, succeeded in recovering 210 billion won, worth $160 million at press time, from 8 suspects of the Terra Luna collapse. Reportedly, the authorities seized properties that were “unfair profits” earned by the Terraform Labs co-founder Shin Hyun-Seong also known as Daniel Shin
In the eighth round of the LUNC burn mechanism, the biggest cryptocurrency exchange in the world, Binance, burned 1.6 billion LUNC tokens. Binance is responsible for 58% of the total LUNC tokens burnt by the Terra Luna Classic community, which is about 52.5 billion. The eighth release of the LUNC
Daniel Shin, one of the co-founders of Terraform Labs, appeared for interrogation at a South Korean court explaining his role in the failure of LUNA/UST. LUNA (now LUNC), the native token of Terra Classic, and UST(now USTC), the algorithmic stablecoin – seemingly collapsed last spring. Daniel Shin Answering on LUNC
