- Terra Luna Classic still seems to have an active community.
- One validator raises the call to the community to stake their LUNC.
- He vows to bring the value of LUNC to $1 through a burn.
LUNC, the native token of the Terra Classic network, is set to receive a renewed push towards its mission of reaching a value of $1. Classy, one of the top validator nodes on the network, has made clear its commitment to burn 100% of its LUNC commissions from July until the end of the year. This will result in the incineration of millions of LUNC tokens.
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Classy expresses concern that the community’s focus on LUNC burning had waned. He emphasizes the importance of reducing the token supply to drive its price upward. The validator called on other node operators to prioritize LUNC burning.
He also encourages community members to stake their tokens with Classy’s Sphere validator. Specifically, he does so because more staked tokens would mean a greater number of LUNC burned.
While many community members express support for Classy’s initiative, a user named Frank Leo highlighted the need for additional developments to revitalize the Terra Classic ecosystem sustainably.
Leo suggests that LUNC burning alone might not be sufficient to achieve the desired $1 price point for the token. Classy acknowledges this perspective, noting that more layer-1 developments are necessary.
The Terra Classic layer-1 Task Force has been actively working on various initiatives within the ecosystem. This includes efforts to re-peg the failed stablecoin USTC. They are leveraging recommendations provided by Redline Drifter to address the challenges and drive progress in the network.
As the mission to raise LUNC’s value to $1 is revived with Classy’s burning commitment, the Terra Classic community is expected to rally behind the initiative. The continued engagement of node operators and the implementation of new developments will be crucial to realizing the full potential of LUNC and advancing the ecosystem as a whole.
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