spot_img
HomeCrypto NewsMarketTerra Classic Casino Officially Burns First 1M LUNC

Terra Classic Casino Officially Burns First 1M LUNC

Date:

Written By:

Latest News

- Advertisement -

 

- Advertisement -

The Terra Classic Casino has begun its contribution to the LUNC burn campaign.


Recently-launched gambling platform Terra (Classic) Casino has officially begun its contribution to the Terra Classic (LUNC) burn campaign, as incineration picks up through its attempt to commit to the 0.2% burn rate previously promised to the community.

The betting platform recently updated its commitment to the burning campaign, as it shared its contribution following the incineration of the first 1 million LUNC tokens burnt. The 1M burn attainment was reached after four days of continual incineration. The platform also touted an interesting upcoming event for the community.

“Woo hoo, we’ve just burnt our first million #LUNC.

- Advertisement -

And in only four days… And there’s a fab surprise coming to

Thanks all who’s helping out,” Terra Casino disclosed in a tweet Friday as it shared a dashboard that revealed a burn achievement of 1,096,015 LUNC.

 

Speaking on the development, Rex “Rexzy” Harrison, Head of Development at TerraCVita and a prominent Terra community member, expressed his excitement for the casino’s contribution and further highlighted the potential heights the platform could reach from LUNC burns if they get enough support from the community. Rexzy also pointed out that its 1M LUNC burns apply only to on-chain deposits and withdrawals.

“Wow, TerraCasino_io soon got to 1m #LUNC burned, and this is just deposit and withdrawals on the chain.

The more we support them, the more they burn,” Rexzy noted in response to Terra Casino’s previous tweet.

The development has triggered mixed reactions amongst members of the LUNC community, with some applauding the newly-launched platform for its commitment and others criticizing it for the low burn rate and the inability to confirm the veracity of its burn claim on the blockchain. It bears mentioning that its 1,096,015 burn is worth an estimated $176 against prevalent rates. The concerns about transparency were raised on the casino’s first day of operation.

Recall that Rexzy announced the casino launch last Thursday, with TerraCVita confirming that it has the potential of burning up to 26B LUNC in 6 months. Notably, the casino plans to burn 0.2% of all betting volumes about LUNC.

Two days later, Rexzy unveiled the casino as TerraCasino.io, revealing OwlDao – the seventh biggest dApp in the cryptocurrency space – as its partner. Rexzy’s announcement sparked controversy, as another betting platform dubbed TerraCasino.money made accusations, claiming that Rexzy stole their launch and vendor partners, as The Crypto Basic previously reported.

- Advertisement -

Author

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.

More from Author