Terraport Aim is To Burn LUNC Not To Take TERRA to $1

Terraport (TERRA) Aims to Fuel LUNC Burns, Not Only Boost TERRA to $1 as Classy Crypto, a prominent Terra Classic influencer, had to clarify a recent tweet.

Classy Crypto, a notable Terra Classic (LUNC) influencer, recently clarified the ultimate objective of TerraCVita’s recently-launched Terraport project, whose native token is TERRA.

According to Classy, the project’s goal is not to boost TERRA to $1 but to fuel LUNC burns. TERRA is the governance token of Terraport.

Classy clarified this in a tweet Wednesday, noting that TERRA aims to introduce more volume to LUNC. In addition, he revealed that the Terraport team intends to allocate a substantial portion of the project’s Treasury toward burning more Terra Classic tokens. “The ULTIMATE goal for our project is to bring MASSIVE burns to LUNACLASSIC,” he added.

The goal for $TERRA isn’t to reach $1, the goal for $TERRA is to bring volume to $LUNC & give a LARGE percentage of our treasury toward burning #LUNC.

The ULTIMATE goal for our project is to bring MASSIVE burns to #LUNACLASSIC.

Retweet if you support BURNS! pic.twitter.com/MLUlVx03bw

— Classy 🔮 (@ClassyCrypto_) April 5, 2023

TERRA is currently trading for $0.14 at the time of reporting, with many of its holders hoping for a rally that could result in a $1 price. Classy’s recent remarks are an attempt to let the broader LUNC community know that Terraport is still focused on LUNC and not only its governance token.

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It is worth recalling that the Terraport team stated that 27% of the project’s fees would be used to buy back and burn LUNC tokens weekly. When asked about the precise date of the first Terra Classic burn, Classy provided a non-specific response but confirmed that the LUNC burns are indeed coming. 

Yeah! I do actually know when the $LUNC burns are coming.

Could be Friday. Could be not. Take that as you want 🔥🔥🔥🔥🔥

— Classy 🔮 (@ClassyCrypto_) April 5, 2023

Terraport launched on March 31, but the project has not yet begun Terra Classic burns, leading several proponents to inquire about the start date for the burns. The team noted that the date for the first burn is not yet fixed, but burns will continue every week once it is determined.

LUNC to $1 Remains the Goal

Following the Terraport launch, which enabled TERRA staking and farming, the staking initiative continues to reach new milestones. Classy recently highlighted that staked tokens have finally crossed the 30 million thresholds.

$TERRA Just Hit 30 MILLION Staked!$LUNC BURNS LOADING SOON… pic.twitter.com/DUtvWTFLbZ

— Classy 🔮 (@ClassyCrypto_) April 5, 2023

Presently, a total of 31.1 million TERRA is staked, with up to $659,799 locked in the liquidity pool farm. Shortly after these milestones were reached, Classy revealed that Terra Classic burns would soon begin. When asked if LUNC to $1 is still the goal, Classy responded, “that’s the idea.”

That’s the idea

— Classy 🔮 (@ClassyCrypto_) April 5, 2023

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