Blockchain

LUNCHBOX –Decentralized Platform by BlueZilla Supports $LUNC Toke

10/19/2022
Bitcoin Ethereum News

The BlueZilla blockchain startup incubator has launched LUNCHBOX – a decentralized platform, giving users the opportunity to contribute to the overall LUNA Classic token burn, whilst enabling market prediction for the amount of $LUNC tokens as higher/lower than yesterday’s burn amount. The project empowers the community and $LUNC token burn supporters to help retrieve the value of the ecosystem. LUNCHBOX boasts an on-chain data monitoring system powered by blockchain technology for transparency with a prize pool split amongst participants who successfully predict the token burn as higher/lower compared to the amount of tokens burnt the day before. 

 

In $LUNA’s Aftermath

The cryptocurrency market was shaken in July of 2022, when the Luna ecosystem collapsed, sending shockwaves throughout the market. Since then, $LUNC has made a solid comeback in September with the Luna 2.0 hard fork as Luna Classic, jotting down a 90-day high of $0.0005888 earlier in the month. Sporting a new protocol that does away with algorithmic stablecoin price stabilization and new burn mechanics for its 6 trillion total $LUNC supply, the future for the token looks like it is on the up. This is especially since, both Binance and Kaj Labs are one of the major supporters of the $LUNC token burn campaign. The latter alone contributed $450 million to bolster the ongoing burn of $LUNC tokens, in the hope of reinstating the value of the ecosystem. 

The emergence of Terra /Luna Classic (aka LUNC) came as a result of Do Kwon, the founder of Luna abandoning the project following the blow that occurred in the early summer of 2022, leaving the ecosystem in the ‘hands’ of the community which is actively in search for innovative ways to support the continuous burn of the $LUNC token, thereby reducing its circulating supply for the hope to once again become a coin of intrinsic value.  

Incubating a Cure For Luna

To support this rapid movement in reducing the supply of $LUNC and thus boost $LUNC’s price, BlueZilla helped build LUNCHBOX to empower the $LUNC token burn supporters of any level. This is an effort to stimulate the $LUNC token burn with the help of the cost-efficient Binance BNB blockchain acting as its basis. 

Users of LUNCHBOX are offered the chance to earn rewards from a prize pool by predicting whether the amount of $LUNC tokens burned will be higher or lower than the amount burned the previous day. The amount of $LUNC used to make the prediction incurs a 2% tax which is redistributed towards the referral system. 

“We believe this platform will support the firm $LUNC burn believers by giving them the opportunity to take the ‘matter in their own hands’. Thus unifying $LUNC token burn efforts across communities,” as commented by a member of the BlueZilla team.

Burners and Earners are Welcome

Participation in LUNCHBOX requires users to follow a few simple steps.

  1. Connect a wallet through WalletConnect, Metamask, or Coinbase wallet on the official LUNCHBOX website.
  2. Use the convenient counter widget to select a value of $LUNC tokens to be entered into the contract, and whether the amount today will be higher or lower than the previous day
  3. Wait for the results, earn or burn!

LUNCHBOX is an attractive option for users willing to engage in the further revival of the Luna ecosystem. Winners who correctly predict if the volume of $LUNC tokens burned are higher/lower than the previous day will split the prize pool and enjoy the rewards. Note, the amount of pooled $LUNC will be taxed such that 3% of the pool goes to the platform with 5% being directly burned. 

With recovery efforts popping up across the board, LUNCHBOX looks like a fun way to contribute to something positive this fall. As for $LUNC – Only time will tell where the recovery efforts will lead. Though with more of such efforts there’s a chance that the token may revive to a fraction of the value that it once held.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 

Source: https://cryptodaily.co.uk/2022/10/lunchbox-decentralized-platform-by-bluezilla-supports-lunc-token-burn