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HomeCrypto NewsTerra Rebels Launches Its First DApp On Terra Classic That Could Help...

Terra Rebels Launches Its First DApp On Terra Classic That Could Help Burn More LUNC

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The Terra Rebels have launched a DApp on the Terra Classic network.

In a tweet today, the Terra Rebels announced that it had launched a lottery game on the Terra Classic network.

It is notably the first decentralized application (DApp) that the Terra Rebels are launching on the Terra Classic network. To participate in the lottery, users must find the DApp through the Terra Rebels website, where they will be required to connect their Terra Luna Classic (LUNC) wallet. 

Per the details on Twitter, one lottery ticket costs only 5000 LUNC (approximately $1.25 at current rates). Notably, the game will select a winner at the end of each round which spans seven days.

The full description of the DApp on the Terra Rebels discord reveals that the winner will be entitled to 60% of the pool. The remaining 40% will be shared as follows:

  • 26% to the burn wallet
  • 6% to the builders of the DApp
  • 7% to the Rebels
  • 1% to be held in contract reserve

One user hailed the achievement as a significant feat, noting that an entire project built with a lottery game as its focus spent months in development and still struggles to operate optimally. However, he asserted that the game created by the Rebels works flawlessly.

Meanwhile, the reviews were not always positive. For example, a user claimed the DApp was not functional, with another adding that it seemed not to work for Android devices. 

It is worth mentioning that the Terra Rebels have made no such distinction.

The new game presents an exciting opportunity for the community to reduce the LUNC supply while still offering utility. As reported previously by The Crypto Basic, developers had shown interest in finding more effective ways to burn LUNC, as the on-chain tax is not enough.

It bears mentioning that buying the ticket is an on-chain transaction that would also be subject to the 0.2% tax leading to even more significant burns in addition to the 26% of the pool.

As recently reported by The Crypto Basic, the community should expect a DEX soon. However, developers want to work towards re-opening Inter Blockchain Communication channels first.

The LUNC community and its developers continue to work towards revitalizing the chain and shaking off the ghost chain tag. The DApp from the Terra Rebels represents a significant step toward utility.

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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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