Terra Luna Classic price has increased by almost 60% in the last few days. One of the causes for this is the new staking service from LUNC DAO. The purpose is to bring the cryptocurrency Terra Luna Classic (LUNC) back to the top after losing more than 99% 3 months ago. This article is all about Terra Luna Classic Staking and whether LUNC price can recover and whether it is worth investing in.
Who is behind LUNC DAO?
LUNC DAO was created by a group of developers and community builders who have been part of Terra Luna Classic since its birth in 2020. Many of the groundbreaking decentralized applications (dApps) in the LUNC ecosystem have been developed by LUNC DAO team members, including the Prism protocol with a joint TVL of $150 million.
A few months ago there was a recommendation to start a LUNC burn, which was already being asked by the community before the currency went down. The idea behind it is to decrease the amount in the circulation of Terra Luna Classic to raise the value of a coin again.
How does LUNC DAO work?
LUNC DAO is a reliable and secure community validator. With this, you can stake your LUNC tokens and thus yield a return. This is employed to buy new LUNC tokens and then burn them. No monetary gain is induced by staking and it is much more of a voluntary contribution. With the help of that process, the amount in circulation is to be lowered. As a result, the value of the token will grow.
Terra Luna Classic Staking
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The launch of the validator had a favorable impact on the market. The currency is up by more than 44% in the last seven days. The introduction of the validator is not only a total success in terms of price. Favorable results can also be noticed on social media. The #LUNC is presently trending with over 24,000 tweets. So it’s safe to state that the community is enthusiastic about the new developments.
There are two methods to make rewards with LUNC; either literally staking via being a validator delegate by executing a validator node and being one of the top 100 in the duration of delegated LUNC, or by entrusting LUNC to one of such validators. Delegating LUNC is extremely straightforward, and secure and can be accomplished instantly in the wallet. For specific instructions, this guide is very helpful.
According to the official documentation, Staking Luna to validators is a significant method to make rewards. Before you stake, it is necessary to have Luna in your wallet. One can transfer Luna from an exchange or another wallet.
- First, open Terra Station and then click Stake.
- Next, pick the Validator with which you would want to stake and then click on their name in the Moniker column of the validator list.
- After this, in the My delegations block, click Delegate and a new window will emerge.
- Now, in the Amount section, define the amount of Luna you like to commission.
- Finally, verify the transaction particulars, enter the password and click Submit.
LUNC DAO intends to burn more Terra Luna soon. A price gain is therefore favorably likely. Despite all this, an investment in Terra Luna remains difficult. The earlier events are still influencing the coin’s impression and making investors critical.
So for investors who like to guess and love risk, it is worth pondering. Yet, it should be noted that the anticipated pump has not yet occurred. However, the community is confident about the project and believes in its success. So, such faith could deliver a good return.
Should You still invest in Terra Luna Classic now?
The successful system of the validator and the resulting favorable effects show that the Terra Luna community is optimistic and willing to continue to help LUNC DAO. The commitment displayed has allowed the coin to grow rapidly over the past three months. This triumph should also be carried out in the following months and ensure an upsurge in the value of the coin.
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Source: https://cryptoticker.io/en/terra-luna-classic-staking-lunc/