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HomeCrypto NewsMarketTerra Classic Community Reacts as Project Allegedly Burns 1.3B LUNC

Terra Classic Community Reacts as Project Allegedly Burns 1.3B LUNC


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A response from the HappyCattyCrypto validator operator alleged that the cumulative burns might actually be 111 million Terra Classic (LUNC).

DFLunc Protocol, a recently-surfaced project and validator in the Terra Classic ecosystem, claims to have burned up to 1.3 billion LUNC just two weeks after it jumped on the burn campaign. These claims have elicited reactions from the community, as proponents seek to find evidence of the burns.

Reacting to DFLunc’s disclosure, the operator of the HappyCattyCrypto alleged that data suggests the actual burn amount is 111 million LUNC, and not 1.3 billion tokens. DFLunc has challenged this claim, stressing that proof of the burns can be found on the blockchain.

Notably, the wallets of the DFLunc project have been set up in a way that does not make it easy to seamlessly track the burns carried out by the project. It is unclear if this was done intentionally or not. HappyCattyCrypto called attention to the issue, but noted that he is committed to tracking the burns.

After further investigations, HappyCattyCrypto acknowledged that the project’s actual contract address, which is not easily trackable, indicates that it has actually burned 1.3 billion LUNC. However, he emphasized that the main wallet of the project shows 111 million LUNC.

He further drew attention to a discrepancy in burn rate which shows that 1 LUNC represents 5,000 LUNC. Although HappyCattyCrypto did admit that the contract shows a 1.3 billion total burn amount, he insisted that the DFLunc team address the 1:5,000 LUNC ratio, which they agreed to do.

DFLunc Terra Classic (LUNC) Burns

HappyCattyCrypto is not the first to take DFLunc’s burn claims with a pinch of salt. On May 8, LBurn Project, a community-driven LUNC project, also called attention to an issue in DFLunc’s contract code when the team claimed to have burned 1 billion LUNC in 10 days.

While the team behind LBurn Project advised the community to be careful, they acknowledged that if DFLunc is actually genuine, then the project might have single-handedly solved the Terra Classic extensive supply problem. The LBurn Project team later apologized for the cautionary statement, noting that investigations proved that DFLunc is really burning as much LUNC as they claim.

DFLunc recently mentioned that they have now burned 1.6 billion in less than 3 weeks which rivals Binance’s monthly burns. Amid the doubts, the team behind the project disclosed a way through which the community can track their burns on Terra Finder.

Recall that, as previously reported by The Crypto Basic, the DFLunc validator staked a massive 13.98 billion LUNC merely 24 hours after its launch. Most of the tokens were redelegated from One LUNC, an existing validator.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



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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