A recently-introduced Terra Classic project incinerates over half a billion LUNC just a few weeks after it jumped on the burn campaign. The Terra Classic (LUNC) burn campaign just received support from an unexpected source. The community has witnessed the incineration of over 628 million LUNC tokens from DFLunc Protocol, a recently-introduced Terra Classic project […] The post New Terra Classic Project Burns Over Half a Billion LUNC first appeared on The Crypto Basic.

New Terra Classic Project Burns Over Half a Billion LUNC

A recently-introduced Terra Classic project incinerates over half a billion LUNC just a few weeks after it jumped on the burn campaign. The Terra Classic (LUNC) burn campaign just received support from an unexpected source. The community has witnessed the incineration of over 628 million LUNC tokens from DFLunc Protocol, a recently-introduced Terra Classic project and ecosystem validator.  Interestingly, data indicates that DFLunc burns tens of millions of LUNC tokens daily. This sustained rate of burns has contributed to the massive burn threshold in less than six weeks. Information from LUNCDash suggests that DFLunc has burned 628.2 million Terra Classic.  Its latest burn occurred today at 14:17 (UTC) and involved 35.2 million Terra Classic. The project burned 27.8 million LUNC yesterday and 21.5 million on June 10. These burns have continued on a daily basis. As a result of the persistent burns, DFLunc has incinerated over 379 million Terra Classic this month alone. Calling attention to the latest burn transaction, the validator revealed in a recent tweet that its total burns have now crossed 3 billion Terra Classic.  https://twitter.com/DFClunc/status/1668265106583482368 However, this figure does not reflect on Terra Classic-based on-chain analytics platforms such as LUNCDash due to an issue with DFLunc's wallet and