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Do Kwon Says He Can’t Help In Terra Classic Burns As His LUNC Holdings Are Worthless

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LUNC Advocate Asks Kwon to Burn His LUNC Holdings as Solidarity for the Revival Movement.


A Terra Classic (LUNC) proponent requested that Do Kwon burn his LUNC tokens to support the revival movement.

Despite originally being the idea of Do Kwon, Terra Classic (LUNC) has managed to stage a comeback, notwithstanding the recent lack of support from the 31-year-old developer. Once forgotten as a failed project, LUNC has recently been set on a path of revival by the Terra classic Community.

One of the measures through which the community aims to revive Terra Classic is the burn proposal – an effort to reduce the asset’s massive circulating supply. Given this, a LUNC advocate requested support from Do Kwon, asking him to join in the Terra classic burns.

Kwon had taken to Twitter to criticize the incumbent South Korean government, and according to him, the government is “weaponizing state institutions against their people.”

Kwon’s remarks followed his denial of the recent reports suggesting that the authorities had frozen an additional $39.6M belonging to him, as recently reported by The Crypto Basic.

“It’s no surprise that crypto is most popular in countries that weaponize state institutions against their own people for political gain. Reap what you sow – revolutions start from within,” Kwon said in a tweet, expressing his grievances towards the Korean government.

The LUNC proponent on Kwon’s remarks on the South Korean government said that Revolutions start from within; so, will he be contributing to Terra Classic burns?

 

But the answer was simple, the Terra classic community may not see any such contribution from the terra founder, as Kwon noted that he does not have enough LUNC to burn that would make a difference.

“My Lunc is probably worth like a candy bar at this point,” he said in response to the request. However, certain individuals expressed disbelief, asserting that Kwon has more than he wishes to disclose.

 

With or without Do Kwon’s contribution, the Terra Classic revival plan remains on track, as the Terra community has taken the movement this far despite his noninvolvement. 

Late last month, the Terra Rebels group released the official LUNC revival roadmap, detailing measures to initiate the asset’s revival.

Meanwhile, the LUNC on-chain and off-chain burns have picked up, with Binance recently revealing a total burn of 5.5 billion LUNC tokens (worth $1.8M) in one transaction, resulting from its weekly off-chain burn. Binance fulfilled its promise to burn LUNC spot and margin trading fees to meet the community’s off-chain burn demands.

Additionally, a Twitter account dedicated to tracking LUNC burn rates, revealed the total amount that had been burnt since the initiative kicked off. According to the handle, 13.73B LUNC tokens had been burnt, with 3.76B burnt since the implementation of the 1.2% tax burn.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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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