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HomeCrypto NewsMarketKaj Labs to Burn Above 2 Trillion Terra Luna Classic (LUNC) Tokens

Kaj Labs to Burn Above 2 Trillion Terra Luna Classic (LUNC) Tokens

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Another crypto project declares support for Terra Luna Classic (LUNC) burns.



Lithosphere’s gaming series ‘Finesse,’ a two-chapter Play-to-Earn (P2E) game, has announced its intention to support the ongoing burn program for Terra Classic.

Kaj’s Plans for LUNC Burns

Kaj Labs, the team behind the development of the Lithosphere blockchain, said it plans to integrate LUNC into the Finesse game to increase the number of LUNC burns when players use Terra classic during gameplay.

KAJ Labs added that it would burn all LUNC tokens used in Finesse during gameplay. In a bid to accommodate and support the LUNC burn program, Kaj Labs noted that it would allocate between $50 million to $100 million to burn up to 2.5 trillion LUNC tokens.

“If Terra Classic is implemented in the game, all LUNC used in the game would be burned during gameplay. To accommodate the burn, KaJ Labs will allocate $50 million to $100 million to burn up to 2.5T Terra Classic in Finesse games,” Finesse developers said in a statement.

Remember, this doesn’t mean 2.5 trillion LUNC would be burned instantly; rather, it’s just a projection of terra classic burns over a certain period of time as the game progresses.

Finesse is a two-chapter gaming series that comprises two P2E games, The Kingdom and Shadow Warriors. Both games feature ninja samurai, warrior fighting, knights, and vampires in multiple adventures that players can easily customize to suit their preferences.

The team launched its unique non-fungible token today, featuring 100,000 unique characters in five categories.

Massive Boost for Terra Classic Investors

Kaj’s intention to burn up to 2.5 trillion LUNC tokens would be a huge step to help revive the LUNC value. Recall that LUNC investors suffered huge losses after the Terra ecosystem collapsed in May. The Terra team left LUNC holders to revive the token themselves, as the team had different plans to launch Terra 2.0.

To revive LUNC, the community agreed to burn part of the token’s total supply by implementing a 1.2% tax burn and other voluntary individual efforts.

With investors left to revive LUNC from the dust, several crypto-related companies have pledged support for LUNC burns. Last month, Binance said it had implemented a burn mechanism that will burn the fees on LUNC spot and margin trading pairs. Other top exchanges like Kraken, Crypto.com, Kucoin, and Mexc Global have also deployed various ways to support the Terra Classic community and LUNC Burns.

Recently as reported by The Crypto Basic MetaRivals Play-to-Earn game announced its launch on the Terra Classic blockchain. Yesterday Curacao-Licensed top casino started accepting Terra Classic as a payment method and supported LUNC Burns.

Terra Classic core developer Edward Kim in a medium blog post released on Thursday, said Terra Classic (LUNC) is to see an extreme boost in the number of projects as terra rebels would cut off dependency on Terraform LAbsm (TFL).

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Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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