HomeCrypto NewsMarketThis Project Burns 4 Million LUNC In A Single Transaction  

This Project Burns 4 Million LUNC In A Single Transaction  

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Terra Casino has continued to contribute to the ongoing Terra Luna Classic (LUNC) burn campaign.

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Today, the casino’s official Twitter handle said the team had burned 4 million LUNC tokens. “… We just sent another 4m of LUNC from the Terra Casino to burn,” the casino saidIt bears mentioning that the team behind the casino also shared a link to the recent burn.

Head of Development at TerraCVita and a prominent Terra community member, Rex “Rexzy” Harrison, also confirmed and admired the casino’s recent LUNC burn in a tweet. 

Terra Casino’s Ongoing LUNC Burn Effort

The recent burn comes less than two weeks after the casino announced its first LUNC incineration. TheCryptoBasic reported that the online betting platform burned 1,096,015 (1.09M) LUNC tokens just four days after it went live. Rexzy stated that the casino’s 1.09M LUNC burn applied only to bettors’ deposits and withdrawals.

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Recall that Terra Casino was launched on November 21, 2022. The betting platform noted that it would burn 0.2% of all betting volumes in LUNC irrespective of the payment method users bet with. TerraCVita stated that Terra Casino could burn 24B LUNC tokens in six months.

Terra Casino has contributed immensely to the ongoing LUNC burn campaign. On November 28, 2022, the casino ranked third among the projects that conducted the largest LUNC burn for the day. The online betting platform burned 8.9M LUNC in a single transaction on November 28, 18:13 (UTC).

Celebrating the milestone, the betting platform said in a tweet:

Community Concerns

Despite Terra Casino’s promises, several LUNC holders were skeptical about the casino’s ability to contribute to the ongoing burn campaign as Terra Casino did not share blockchain details of its previous LUNC burns.

To address these considerations, Terra Casino, this time, chose to share proof of its recent LUNC incineration.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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