Altcoin News- KaJ Labs, the key creator of the Lithosphere blockchain, has pledged $50-$100M.
- In all, 6.6 billion LUNC tokens have been destroyed so far.
The price of Terra Classic (LUNC) has increased from its 24-hour low of $0.00025 to its new high of $0.00029. That is a gain of over 10%. The price increased as Terra Classic was added to several cryptocurrency trading platforms. KaJ Labs, the company at the heart of the Lithosphere network, plans to burn 2.5 trillion LUNC tokens. It will utilize the Jot Art Finesse NFT collection and a unique kind of “Finesse” gameplay. It combines elements of role-playing games with free-to-play action games.
Massive Volatility Expected
There are a total of 6.8 trillion Terra Classics available. With the 1.2% tax burn or other burn mechanisms. The community seeks to achieve a fixed supply of 10 billion LUNC tokens. In all, 6.6 billion LUNC tokens have been destroyed so far, with 4.2 billion destroyed through the burn address and 2.3 billion destroyed via tax.
Many additional exchanges, including as KuCoin, Kraken, Huobi, Gate.io, MEXC Global, eToro, Crypto.com, CoinInn, BTCEX, and LBank, have joined Binance in supporting Terra Classic burn for on-chain and off-chain transactions.
Interestingly, KaJ Labs, the key creator of the Lithosphere blockchain, has pledged $50-$100 million to the destruction of 2.5 trillion Terra Classic (LUNC) tokens. On October 1, KaJ Labs anticipates the release of the Lithosphere (LITHO) Jot Art Finesse NFT collection and a variety of “Finesse” games in which players may earn currency via various methods of play.
New projects and games seek to further lower the LUNC supply, while cryptocurrency exchanges intend to burn LUNC tokens until the supply approaches 10 billion. As a result, the LUNC price will skyrocket, and the token’s deflationary effects will get stronger.
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Source: https://thenewscrypto.com/kaj-labs-to-burn-2-5-trillion-terra-classic-lunc/