Terra Classic Project Burns Billions Of LUNC, More Than Binance
Terra Classic (LUNC) Burn Rate Rises On May 1, Binance burned 1.27 billion LUNC as part of its monthly LUNC burn mechanism. After Binance burn, the total LUNC burn reached 55 billion and burns contributed by Binance reached 31.83 billion LUNC tokens. advertisement The LUNC burn rate continue to rise after the Binance burn, as the community burned new millions of LUNC through the new project DFLunc Protocol as it begins to attract attention. It is a DeFi protocol consisting of multiple smart contracts and aims to deflate LUNC supply through a continuous burn mechanism. DFLunc Protocol is also a validator for Terra Classic that allows users to mint its DFC token only by burning LUNC tokens. It utilizes two smart contracts based on CosmWasm — DFLunc and CW20-DFC. Users burn LUNC by paying USTC as protocol fees to mint DFC tokens. The protocol has divided its plan into different stages that ultimately aimed toward the growth of its validator on the Te...