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HomeCrypto NewsMarketTerraCVita Says Its Roadmap Includes Burning Trillions of LUNC

TerraCVita Says Its Roadmap Includes Burning Trillions of LUNC

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The latest disclosure underlines the independent development group’s commitment to revitalizing Terra Classic (LUNC).

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TerraCVita, an independent group dedicated to developing the Terra Classic (LUNC) asset, has revealed that its internal roadmap includes some provisions that would see to the burn of trillions of LUNC tokens. The disclosure comes when the community regards token burns as the top priority as the campaign to rejuvenate the asset picks up.

“Spoiler – Our internal roadmap includes milestones to burn Trillions of LUNC,” the official handle of the TerraCVita group disclosed today.

While some community members have received the news well, others remain unexcited, highlighting that several entities have made such promises in the past. One such is the Lithosphere (LITHO) blockchain team, which released a roadmap in October with plans to burn up to 2.5 trillion LUNC.

With a current supply of 5.9 trillion tokens, LUNC’s circulating supply would be drastically reduced upon the incineration of trillions of tokens, which can contribute massively to its price action. Nonetheless, with the current limited information, the mode of employing this burn and its timeline remains unknown.  So far, 35.7 billion LUNC tokens have been burned, with Binance accounting for 20.1 billion.

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TerraCVita’s Contributions to the Ecosystem 

Whether or not TerraCVita can keep to its word remains to be seen. Notwithstanding, the group’s mark within the LUNC camp is undeniably noticeable. In September, TerraCVita announced a partnership with High Stakes Switzerland – an entity involved in running validators for PoS networks. The partnership would see High Stakes launch a LUNC validator to assist in fund generation for the network’s development.

Following a decision from fellow independent LUNC development group Terra Rebels to cease support for the Terra Station wallet last week, further developments of the wallet infrastructure were assigned to TerraCVita, indicating its significance to the community. The group has been involved in several proposals, governance votes, and developments toward supporting LUNC.

Furthermore, TerraCVita and one of its most prominent members, Rex “Rexzy” Harrison, were involved in the launch of the Terra Casino gambling platform, which has been committed to incinerating millions of LUNC tokens, with 12.9M LUNC burned in less than a month.

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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.

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