{"id":545421,"date":"2023-08-01T06:10:24","date_gmt":"2023-08-01T06:10:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=545421"},"modified":"2024-06-11T11:15:24","modified_gmt":"2024-06-11T11:15:24","slug":"how-terra-luna-classic-token-burn-may-drive-lunc-and-ustc-to-1","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/how-terra-luna-classic-token-burn-may-drive-lunc-and-ustc-to-1\/","title":{"rendered":"How Terra Luna Classic Token Burn May Drive LUNC And USTC To $1"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Terra Luna Classic (LUNC) finds itself at a crossroads, facing a crucial decision regarding the destiny of 800 million USTC tokens tied to Ozone Protocol. Rather than returning these tokens to the community pool, as proposed by Vegas, the community now leans towards the idea of burning them.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Vegas, a former ex-Terra Rebels developer group member,\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/cryptomaneitaly\/status\/15255808\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">introduced Proposal 11658<\/span><\/a><span data-preserver-spaces=\"true\">, which addresses the issue of unused community funds. The tokens in question are not actively aligned with the proposed development plan, prompting Vegas to suggest their return to the Terra Luna Classic community pool. However, an emerging counter-proposal advocates a different path \u2013 burning these tokens instead of returning them.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/curve-dao-crv-price-recovery-post-exploit-what-would-be-a-realistic-scenario\/\" target=\"_blank\" rel=\"noopener \">Curve DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic Scenario?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The fate of these tokens now lies in the hands of the community as they engage in the voting process to determine the most suitable course of action for Terra Luna Classic&#8217;s future.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I remain adamant that USTCs should be burned and not sent to the CP.<\/p>\n<p>In favor of proposal 11660 and against proposal 11658<a href=\"https:\/\/twitter.com\/hashtag\/LUNC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LUNC<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LuncArmy?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LuncArmy<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LuncBurn?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LuncBurn<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LUNCCcommunity?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LUNCCcommunity<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/TerraClassic?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#TerraClassic<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LunaClassic?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LunaClassic<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/LunaClassicHQ?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#LunaClassicHQ<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#CryptoNews<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/cryptotrading?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#cryptotrading<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Terra?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Terra<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/DEX?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#DEX<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#DeFi<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/terraport?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#terraport<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/USTC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#USTC<\/a>\u2026 <a href=\"https:\/\/t.co\/8MkP7r6SbI\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/8MkP7r6SbI<\/a><\/p>\n<p>\u2014 Cryptomane (@cryptomaneitaly) <a href=\"https:\/\/twitter.com\/cryptomaneitaly\/status\/15255808?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">July 31, 2023<\/a><\/p><\/blockquote>\n<h2><strong>Terra Luna Classic (LUNC): The Evolution Of Ozone Protocol<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">Despite the initial success of Ozone V1 and V2, there arose a concern within the Terra Luna Classic community regarding the full utilization of 1 billion UST (now USTC) as originally intended. The Risk Harbor team, responsible for managing these funds, has not fully leveraged them in alignment with the project&#8217;s vision.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As a result, a proposal emerged, titled Proposal 11658, advocating for returning<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/commonwealth.im\/terra-classic\/discussion\/12429-we-must-vote-no-with-veto-to-proposal-11658-unless-vegas-rewrites-it-to-include-a-ustc-burn-step\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">\u00a0these unused USTC tokens to the community pool<\/span><\/a><span data-preserver-spaces=\"true\">. The proposal aims to reallocate the funds and ensure they are put to more effective use that aligns with the community&#8217;s objectives.<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">We have been working with lunanauts, DNC &amp; M Van S to create a counter proposal to burn 100% of the USTC funds should they be released by proposal 11658. It&#8217;s currently in the deposit stage please feel have a read &amp; contribute towards deposit if you agree. <a href=\"https:\/\/t.co\/Pn7nNodB1J\" rel=\"nofollow\">pic.twitter.com\/Pn7nNodB1J<\/a><\/p>\n<p>\u2014 SolidVote LUNC Validator (@SolidVote) <a href=\"https:\/\/twitter.com\/SolidVote\/status\/52199680?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 31, 2023<\/a><\/p><\/blockquote>\n<h2><strong>The Counter-Proposal: Burning LUNC Tokens<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">In response to Proposal 11658, a counter-proposal has been put forth. This new\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/SolidVote\/status\/52199680\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">Proposal 11660<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0advocates a different approach altogether \u2013 burning 800 million LUNC tokens.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The counter-proposal insists on burning LUNC tokens, regardless of the outcome of Proposal 11658. The proponents argue that a substantial portion of the Terra Luna Classic community actively supports this move, believing that it will address concerns more effectively and lead to a better allocation of resources.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/r2mhIiY2\/\" width=\"2475\" height=\"1179\"><\/p>\n<pre style=\"text-align: center\">LUNC market cap currently at $515 million. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<h3><strong>LUNC Price Response<\/strong><\/h3>\n<p><span data-preserver-spaces=\"true\">The recent developments surrounding the Ozone protocol and the debate over unused funds have notably impacted the price of LUNC tokens. According to\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coingecko.com\/en\/coins\/terra-luna-classic\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">CoinGecko&#8217;s latest data<\/span><\/a><span data-preserver-spaces=\"true\">, the price of LUNC tokens currently stands at $0.0000802<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-545464\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?resize=1024%2C51\" alt=\"\" width=\"1024\" height=\"51\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=1263 1263w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/08\/a-6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">Source: Coingecko<\/pre>\n<p>Related Reading: <a href=\"https:\/\/uniquehot.com\/all\/uniswap-uni-stays-afloat-with-11-gain-as-rest-of-top-50-coins-sink\/\" target=\"_blank\" rel=\"noopener \">Uniswap (UNI) Stays Afloat With 11% Gain As Rest Of Top 50 Coins Sink<\/a><\/p>\n<p><span data-preserver-spaces=\"true\">Over the past week, LUNC&#8217;s price has experienced a 1.8% decline. This sustained decrease suggests that the discussions and contrasting proposals surrounding the unused funds have had a more prolonged impact on market sentiment and investor confidence.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Recognizing that many factors often influence market sentiment and price movements is crucial. While the debate over unused funds has undoubtedly shaped LUNC&#8217;s price, other market dynamics may also be contributing to these fluctuations.<\/span><\/p>\n<p><em>(This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n<p><em>Featured image from The Coin Republic<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terra Luna Classic (LUNC) finds itself at a crossroads, facing a crucial decision regarding the destiny of 800 million USTC tokens tied to Ozone Protocol. Rather than returning these tokens to the community pool, as proposed by Vegas, the community now leans towards the idea of burning them.\u00a0 Vegas, a former ex-Terra Rebels developer group member,\u00a0introduced Proposal 11658, which addresses the issue of unused community funds. The tokens in question are not actively aligned with the proposed development plan, prompting Vegas to suggest their return to the Terra Luna Classic community pool. However, an emerging counter-proposal advocates a different path \u2013 burning these tokens instead of returning them.\u00a0 Related Reading: Curve DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic Scenario? The fate of these tokens now lies in the hands of the community as they engage in the voting process to determine the most suitable course of action for Terra Luna Classic&#8217;s future. I remain adamant that USTCs should be burned and not sent to the CP. In favor of proposal 11660 and against proposal 11658#LUNC #LuncArmy #LuncBurn #LUNCCcommunity #TerraClassic #Crypto #LunaClassic #LunaClassicHQ #CryptoNews #cryptotrading #Terra #DEX #DeFi #terraport #USTC\u2026 pic.twitter.com\/8MkP7r6SbI \u2014 Cryptomane (@cryptomaneitaly) July 31, 2023 Terra Luna Classic (LUNC): The Evolution Of Ozone Protocol Despite the initial success of Ozone V1 and V2, there arose a concern within the Terra Luna Classic community regarding the full utilization of 1 billion UST (now USTC) as originally intended. The Risk Harbor team, responsible for managing these funds, has not fully leveraged them in alignment with the project&#8217;s vision. As a result, a proposal emerged, titled Proposal 11658, advocating for returning\u00a0these unused USTC tokens to the community pool. The proposal aims to reallocate the funds and ensure they are put to more effective use that aligns with the community&#8217;s objectives. We have been working with lunanauts, DNC &amp; M Van S to create a counter proposal to burn 100% of the USTC funds should they be released by proposal 11658. It&#8217;s currently in the deposit stage please feel have a read &amp; contribute towards deposit if you agree. pic.twitter.com\/Pn7nNodB1J \u2014 SolidVote LUNC Validator (@SolidVote) July 31, 2023 The Counter-Proposal: Burning LUNC Tokens In response to Proposal 11658, a counter-proposal has been put forth. This new\u00a0Proposal 11660\u00a0advocates a different approach altogether \u2013 burning 800 million LUNC tokens. The counter-proposal insists on burning LUNC tokens, regardless of the outcome of Proposal 11658. The proponents argue that a substantial portion of the Terra Luna Classic community actively supports this move, believing that it will address concerns more effectively and lead to a better allocation of resources. LUNC market cap currently at $515 million. Chart: TradingView.com LUNC Price Response The recent developments surrounding the Ozone protocol and the debate over unused funds have notably impacted the price of LUNC tokens. According to\u00a0CoinGecko&#8217;s latest data, the price of LUNC tokens currently stands at $0.0000802 Source: Coingecko Related Reading: Uniswap (UNI) Stays Afloat With 11% Gain As Rest Of Top 50 Coins Sink Over the past week, LUNC&#8217;s price has experienced a 1.8% decline. This sustained decrease suggests that the discussions and contrasting proposals surrounding the unused funds have had a more prolonged impact on market sentiment and investor confidence. Recognizing that many factors often influence market sentiment and price movements is crucial. While the debate over unused funds has undoubtedly shaped LUNC&#8217;s price, other market dynamics may also be contributing to these fluctuations. (This site&#8217;s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from The Coin Republic<\/p>\n","protected":false},"author":557,"featured_media":545445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,3],"tags":[1144,8686,86792,4735,87704],"class_list":["post-545421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","category-news","tag-btcusd","tag-ethusd","tag-lunc-price","tag-price-action","tag-terra-luna-classic"],"acf":[],"yoast_head":"\n<title>How Terra Luna Classic&#039;s Token Burn May Drive LUNC To $1<\/title>\n<meta name=\"description\" content=\"Terra Luna Classic (LUNC) finds itself at a crossroads, facing a crucial decision regarding the destiny of 800 million USTC tokens tied to Ozone Protocol.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Encila\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g\",\"caption\":\"Christian Encila\"},\"description\":\"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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