Two of the most notable burns have come from LUNC DAO and Cremation Coin.
The Terra Classic (LUNC) community has not relented in its mission to reduce the asset’s circulating supply, as over 5 million tokens have been incinerated so far this week. Most of these tokens were incinerated by validator LUNC DAO and the recently-launched project Cremation Coin.
Cremation Coin
Data from LUNC Dash puts the total incinerated tokens this week at 5.3 million LUNC. Of this figure, Cremation Coin accounts for 3.3 million tokens, representing 61% of the total.
Terra Finder said the Cremation Coin burn transaction occurred today at 04:30 (UTC). The transaction is the largest single burn transaction in the past seven days and represents the project’s latest effort at supporting the burning campaign. The project incinerated 3.39 million tokens last Tuesday.
The team behind the project called attention to the latest burn through their official Twitter handle today. The transaction brings their total cumulative burn to 25.2 million tokens, putting them in the 18th position of biggest burners, as assessed by LUNC Dash. It bears mentioning that Cremation Coin’s total burns surpass this value, but LUNC Dash could only index the most recent ones.
3.3 million #LUNC burned!
Up from #19 to #18 on #luncdash! 👍
TY for your contributions!
Every tx helps us #burn!
👉 https://t.co/fOfGowjZlt#luncburn #lunccommunity #luncarmy #CREMATfam #CREMAT #bnb #bsc #Binance #1000x #100xgem #gem #crypto #cmc #LUNCpenguins $LUNC #USTC pic.twitter.com/dcBI5e3zBP
— Cremation Coin 🔥Weekly LUNC Burns🔥 (@Cremation_Coin) February 21, 2023
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Recall that Cremation Coin disclosed plans to persistently commit to the Terra Classic burn campaign earlier this year. The project incinerated 16 million tokens in one transaction last month, marking the year’s second-biggest single burn.
LUNC DAO
Meanwhile, out of the 5.3 million tokens recently burned, independent validator LUNC DAO contributed to the incineration of 1.8 million tokens. Terra Finder data reveals that the burn occurred on Feb. 19 at 23:49 (UTC).
LUNC DAO has continued incinerating millions of tokens every week – a pattern it has sustained since the start of the burning campaign, being one of the earliest adopters of the initiative. Consequently, the validator remains the fifth largest burner, with 443.5 million tokens incinerated.
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Source: https://thecryptobasic.com/2023/02/21/over-5m-terra-classic-lunc-burned-this-week/?utm_source=rss&utm_medium=rss&utm_campaign=over-5m-terra-classic-lunc-burned-this-week