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Terra Classic Burn Hits 95 Billion Milestone The Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) community is celebrating a remarkable milestone as its ongoing burn campaign reaches an impressive 95 billion SEED_DONKEYDAN_MARKET_CAP:LUNC since May 2022. This achievement, driven by the collaborative efforts of crypto exchanges, validators, projects, and dedicated community members, signifies a substantial reduction in the circulating supply of $LUNC. Notably, Binance, the world's leading cryptocurrency exchange, has played a pivotal role, contributing over 51.7% to the total burn, showcasing the community's commitment to long-term sustainability. SEED_DONKEYDAN_MARKET_CAP:LUNC Burn Milestone: The Terra Luna Classic burn campaign has witnessed consistent progress, with an average weekly burn of 600 million SEED_DONKEYDAN_MARKET_CAP:LUNC per week. This figure has experienced a notable uptick since November, indicating a growing momentum within the community. Binance's monthly SEED_DONKEYDAN_MARKET_CAP:LUNC burn mechanism has been a driving force, accounting for nearly 50 billion SEED_DONKEYDAN_MARKET_CAP:LUNC in total. As the SEED_DONKEYDAN_MARKET_CAP:LUNC token's circulating supply stands at 5.78 trillion and the total supply at 6.81 trillion SEED_DONKEYDAN_MARKET_CAP:LUNC , this achievement underscores the community's determination to manage and optimize the token's availability in the market. Binance's Significant Contribution: Binance's involvement in the SEED_DONKEYDAN_MARKET_CAP:LUNC burn is substantial, making up over 51% of the total burned tokens. The recent 17th batch of the SEED_DONKEYDAN_MARKET_CAP:LUNC burn mechanism saw Binance burning 5.57 billion Terra Luna Classic ( SEED_DONKEYDAN_MARKET_CAP:LUNC ) tokens. With the total amount burned by Binance nearing 50 billion, it demonstrates the exchange's commitment to supporting the Terra Luna Classic community's goals. Community Initiatives and Challenges: While the SEED_DONKEYDAN_MARKET_CAP:LUNC burn campaign has achieved an impressive milestone, the community recognizes the need for continued efforts in utility, funding, and chain developments. In an effort to further boost the burn rate, the community has explored burning USTC and SEED_DONKEYDAN_MARKET_CAP:LUNC held in other protocols. However, a clear directive is essential to proceed with these initiatives, showcasing the importance of strategic planning and coordination within the community. Market Response and Price Rally: The broader market recovery after the monthly expiry has had a significant impact on the prices of both SEED_DONKEYDAN_MARKET_CAP:LUNC and USTC. SEED_DONKEYDAN_MARKET_CAP:LUNC has experienced an 8% surge in the last 24 hours, currently trading at $0.0001012. The 24-hour high and low are $0.0000951 and $0.0001032, respectively. Trading volume has spiked by 100%, indicating heightened interest among traders. Meanwhile, USTC has seen an impressive 11% surge, currently trading at $0.02652, with a 24-hour low of $0.02467 and a high of $0.02713. Conclusion: The Terra Luna Classic community's achievement of burning 95 billion SEED_DONKEYDAN_MARKET_CAP:LUNC marks a significant milestone, showcasing the dedication and collaboration within the community. With Binance's substantial contribution and the market responding positively with increased prices and trading volume, the future looks promising for Terra Luna Classic. As the community continues to focus on utility and development initiatives, the ongoing success of the SEED_DONKEYDAN_MARKET_CAP:LUNC burn campaign positions Terra Luna Classic as a project to watch in the dynamic world of cryptocurrencies.
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by DEXWireNews
Luna Classic Embracing EVM for a Resurgence in ProgrammabilityTerra Luna Classic ($LUNC) is set to undergo a transformative revival as it embraces Ethereum Virtual Machine (EVM) support. The proposal, aptly named "Investigate EVM Functionality" (Proposal 11978), has garnered significant community support, signaling a strategic move towards enhanced programmability, composability, and interoperability. This bold initiative positions Terra Luna Classic to join the ranks of blockchain projects adopting widely-used standards, potentially attracting major players like Curve DAO, Uniswap, ChainLink, Hedera, and others. The EVM Support Proposition: Terra Luna Classic's proposal to introduce EVM support is more than just a technical upgrade; it's a visionary step towards adapting to new and emerging technologies. By integrating the Ethereum Virtual Machine, Terra Luna Classic aims to leverage the programming capabilities offered by the Solidity language, a hallmark of EVM chains. This move aligns the community-led Terra Classic chain with cutting-edge developments in the blockchain space. Advantages and Functionality: The advantages of EVM support on Terra Luna Classic are manifold. The proposal emphasizes the potential for the chain to seamlessly integrate with Optimistic transactions and Rollups, promising increased efficiency and scalability. Optimistic transactions, in particular, offer a novel approach where Terra Classic can execute transactions without revealing direct security information, enhancing privacy and security. As ClanMudhorn of Terrarium validator points out, "Terra Classic will have the potential to become compliant with new and emerging technologies like Optimistic transactions, where Terra Classic does not need to send direct security information on each transaction, and Rollups, which allow significantly more transactions to be processed at once, dramatically increasing the processing power of Terra Classic." Community Support and Governance-Driven Decision Making: The proposal has already surpassed the pass threshold, with over 62% of the community voting in favor. A total of 29 validators have thrown their support behind the initiative, showcasing the widespread enthusiasm for the integration of EVM functionality. The voting deadline is set for January 17, and if all goes as planned, Terra Luna Classic will mark a significant milestone in its evolution. Strategic Interoperability and Industry Adoption: By incorporating EVM support, Terra Luna Classic positions itself strategically in the blockchain ecosystem. The move towards interoperability and adherence to widely-used blockchain development standards open the door to collaborations with major projects in the space. The proposal specifically mentions the potential integration with Curve DAO, Uniswap, ChainLink, Hedera, and others, which could bring a new wave of innovation and utility to Terra Luna Classic. Conclusion: Terra Luna Classic's pursuit of EVM support is a compelling narrative of adaptation and evolution in the fast-paced world of blockchain technology. The community's endorsement of the proposal underscores the collective vision for Terra Luna Classic's future. As the voting deadline approaches, the crypto community eagerly anticipates the resurgence of Terra Luna Classic as it ventures into a new era of programmability, composability, and interoperability, setting the stage for a dynamic and inclusive blockchain ecosystem.
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by DEXWireNews
LUNC Core Dev L1TF Announces Terra Classic Coalition, LUNC To $1Terra Luna Classic core developer on Thursday announced the formation of Terra Classic Coalition group to contribute to the Terra Classic chain developments. The team will contribute their expertise and insights for most work on the Terra Classic chain without any funds. However, some tasks such as SDK upgrades will require funding from the community through a governance proposal. Terra Classic Coalition Vinh Nguyen, a developer in L1TF, shared a post on X revealing the Terra Classic Coalition. It is a group formed by key members of the community including Vinh, former L1TF developer Fragwuerdig, L1TF developer Gevik, developer StrathCole, and validator and creator Happy Catty Crypto. The Terra Classic Coalition aims to work without restrictions of daily meetings or a fixed roadmap, committing fully to advancing the chain. The team will develop proposals for the chain’s developments and ensure a strategic approach for it. The TCC is in support of the ‘pay per job’ payment model, recently approved by the Terra Luna Classic community. Further details on the implementation of the pay-per-job model will be proposed in the next weeks. Each member will work independently and contribute their expertise to the Terra Luna Classic ecosystem. TCC will volunteer for most work, but requires funding for projects such as SDK upgrades. A separate proposal will be submitted when any project requires funding. The details on L1TF continuing to exist or disbanded are not clear. LUNC And USTC To $1? LUNC and USTC Prices To Recover? Terra Luna Classic tokens witness selloffs amid profit booking in the broader crypto market. However, LUNC and USTC remain 207% and 280% higher in a month, despite paring earlier gains. LUNC price fell more than 3% in the last 24 hours, with the price currently trading at $0.0002049. The 24-hour low and high are $0.000203 and $0.000245, respectively. Furthermore, the trading volume has decreased by 18% in the last 24 hours, indicating a decline in interest among traders. Meanwhile, USTC price trades at $0.045, down 2% after massive profit booking. The 24-hour low and high are $0.0448 and $0.0502, respectively. Moreover, the trading volume fell 33% in the past 24 hours.
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by DEXWireNews
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Terra Luna Classic Proposal For v2.3.0 Upgrade Officially PassedTerra Luna Classic proposal for the v2.3.0 upgrade has been approved by the community through governance voting. The on-chain deployment of terrad client v2.3.0, also referred to as “v6” incorporates dynamic validator commission module. Traders reacted immediately to the passing of the proposal with LUNC price rebounding again. Terra Luna Classic Community Passes v2.3.0 Upgrade Proposal The Terra Luna Classic community has approved Proposal 11874 “Upgrade to v2.3.0”. The proposal aimed to introduce dyncomm module, integrating protocol logic for determining minimum validator commissions based on voting power. The scheduled upgrade height is 15493370, anticipated to happen on November 20 at 11.19 AM UTC, according to data by StakeBin. The proposal has received 93% “Yes” votes and 7% “Abstain” votes. It indicates the community has unanimously favored the proposal for dynamic validator commission. Among the 60 validators who participated in the voting, 58 validators have favored the proposal. This includes top Terra Luna Classic validators including All nodes, Interstellar Lounge, Happy Catty Crypto, Terra CVita, and Inter stake One. LUNC Price Surges LUNC price jumped 1% after hitting a 24-hour low of $0.000074, with the price currently trading at $0.0000758. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in the interest of traders. LUNC price rebounded amid the market-wide recovery, up nearly 40% in a month. Meanwhile, USTC price trades at $0.013, up 20% in a month.
Long
by DEXWireNews