HomeCrypto NewsMarketThis Project Burned 50M LUNC in Less Than Two Months

This Project Burned 50M LUNC in Less Than Two Months

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The recent transaction has brought Terra Casino’s total burns to 52M LUNC in under 2 months.


Following a relatively quiet weekend, Terra Classic (LUNC) burns have picked up once again, as the community incinerated up to 12.4M tokens in the early hours of Monday, with the recently-established Terra Casino accounting for 8M tokens along with LUNC influencer Classy. The remaining tokens were burned by prominent validator LUNCDAO in two equal transactions.

Terra Casino’s Burns

The latest burn transactions were carried out by Terra Casino, as it looks to keep to its promise of burning 0.2% of all gambling volume. Terra Casino collaborated with Classy to initiate the latest burn. Data from Terra Finder indicates that the transaction, which resulted in the incineration of 8,022,430 (8M) tokens, occurred today at 1:58 (UTC).

Memo on the transaction reads “BettingBurn5x_TerraCasino+ClassyCrypto,” signaling a collaboration between Terra Casino and Classy. Moreover, Terra Casino highlighted the development through its Twitter handle today. “. . .this is also our first sponsored tandem burn with this week’s guest pyromaniac ClassyCrypto_ helping hold the match,” the platform revealed.

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The platform has incinerated 52.1M LUNC tokens since its launch barely two months ago. Out of this figure, 8.1M LUNC were burned from deposits and withdrawals, with 44M tokens burned through its betting volume. Terra Casino went live last November, touted as a platform that could potentially burn 24B tokens in 6 months.

The gambling platform burned its first million tokens four days after the official launch, as previously reported. Despite burning at a lower rate than expected, Terra Casino has been persistent in its contribution to the burning campaign, promising to burn more with greater patronage from the community. The platform is now the 11th largest burner.

LUNCDAO’s Burns

The rest of the burns for today were carried out by independent LUNC validator LUNCDAO. The validator incinerated 4.4M LUNC tokens in two equal transactions of 2.2M LUNC each. The first transaction which occurred today at 1:02 AM (UTC) saw the incineration of 2,235,829 (2.2M) tokens. The second transaction occurred barely a minute later.

The latest transactions brought LUNCDAO’s total burns to 431.5M since it jumped on the burning campaign, making it the fifth largest burner. Last October, the validator engaged in one of its largest single burns yet, incinerating up to 22M tokens at once. Total cumulative burns from all entities now sit at 37.2B tokens, including tax burns.

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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.

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