Terra Classic Staking : LUNC Staking Program is Prepared to Launch

One of the most influential members of the Terra Classic community on Twitter, @LUNCDAO, has tweeted that efforts are underway to bring the game back from the dead.

It’s no secret that the Terra community as a whole prefers the original token iteration (LUNC) to the newer, official digital asset (LUNA) that makes up Terra 2.0. This may be noticed in the persistent calls for a global token burn.

LUNCDAO is a group of OGs and community builders who have been part of LUNC since its inception in 2020.

Many of the pioneering decentralized applications (dapps) in the LUNC ecosystem were created by team members, including the prism protocol with $150 million in total TVL. They’ve been around $LUNC the longest of everyone else. They’ve been around since the beginning, making them true veterans.

They spent three months recently giving out the vast majority of their yield freely, for no financial reward, because they trust in $LUNC. Furthermore, they devoted all of their spare time to lobbying for the introduction of staking and taxation.

3 Days Countdown until the Launch of the LUNC Staking Program

The @LUNCDAO Validator Staking will be available in three days, as per the account’s Twitter description.

$LUNC staking opens in 3 days

The $LUNC DAO validator will be ready. It will be the greatest $LUNC validator to stake with in the entire world. We’ll post threads and host spaces to give you full info and answer any/all questions in the upcoming days. Super excited pic.twitter.com/Jg92YQQDDa

— 🐂 Baron Oxley of Benon 🎩 🥂 (@ASPARAGOID) August 22, 2022

Many have incorrectly claimed that those who participate in the staking will receive “billions in rewards.”

It was claimed in the study that consumers are safe from harm since they may easily switch validators if they suspect a malicious actor or a validator is being run for financial gain. Due to the public nature of the blockchain, malicious actors will face instant repercussions.

And secondly, they intend to destroy it in the same way they destroyed their $LUNA validator. They said that once a validator fails to provide, members will quickly move on to another community.

Taking maximum yield means burning maximum $LUNC, as evidenced by the discord account. Keep in mind that this is what the people in the post-Crisis community have always desired.

Our $LUNC Validator will be ready for staking launch

We'll create threads + videos + host spaces answering Q/As on how to create a wallet, stake, etc in the upcoming week. Also leave any questions you have below 🤌

We will be the best $LUNC Validator in the entire world: pic.twitter.com/ticCGZnNA3

— 🐂 Baron Oxley of Benon 🎩 🥂 (@ASPARAGOID) August 21, 2022

It is hoped that the staking scheme will be entirely community-driven, sparking the $LUNC burn and ecosystem revival trend. The proposal said that there was no financial gain from doing so, and that it was a completely voluntary contribution to aid $LUNC after they had spent 18 months constructing before the crash.

This may be the last, best option for averting disaster and getting life back to normal in the town. Since the accident, through the proposal of a fork, and beyond, the community has wanted $LUNC to be destroyed.

Inflationary Price Pressures

In the last 24 hours, $43,822,146 worth of Terra Classic has exchanged hands at a price of $0.000090. CoinMarketCap now values Terra Classic $LUNC at $590,300,988, a rise of 0.50% in 24 hours. It is ranked #213 overall.

Meanwhile, the 24 hour volume for Terra ($LUNA) is $51,470,005, and the price is currently $1.64. According to statistics from CoinMarketCap, the price of Terra has decreased by 1.18% in the previous 24 hours. CoinMarketCap now ranks it at #228 (below $LUNC) with a market cap of $208,988,939.

You should know that this is not a recommendation to buy or sell anything. Do your homework before investing in a cryptocurrency or any service.