Cremation Coin has announced that it recently burned 30.6 million Terra Classic (LUNC) tokens as part of its weekly contribution to the Terra Classic burn initiative. With this latest burn, the project has now contributed to a total of 326 million token burns since it began participating in the campaign.
The team behind Cremation Coin took to their official Twitter account to announce their latest contribution to the Terra Classic burn initiative. The team called for more adoption to help expedite the token burns for the current week. The burn transaction occurred at 02:46 (UTC) on the announcement day and represented a portion of the project’s trading volume from the previous week.
Last week, Cremation Coin burned 18.3 million Terra Classic (LUNC) tokens as part of its weekly contribution to the Terra Classic burn initiative. With the latest burn of 30.6 million LUNC tokens, the project’s total contributions to the initiative now stand at 326.6 million tokens over the past three months. However, LUNCDash, which indexes token burns for Terra Classic, reports a slightly lower total burn amount of 314.4 million tokens, possibly due to differences in the indexing method or timing of indexing.
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Cremation Coin’s contributions to the Terra Classic burn initiative have propelled it to seventh among the biggest burners of Terra Classic tokens, only 30 million tokens behind Allnodes. This prominent validator is currently ranked sixth. Moreover, with a total burn of 326.6 million LUNC tokens, Cremation Coin is just 109 million tokens, shy of LUNC DAO’s total burns of 434 million tokens.
The Weekly Burn Initiative
Of this week’s total Terra Classic burn transaction of 33.4 million LUNC, Cremation Coin’s contribution of 30.6 million LUNC represents a significant portion, accounting for 91% of the total. In addition to Cremation Coin, LUNC DAO contributed weekly to the burning campaign.
A total of 1.57 million Terra Classic tokens were burned yesterday by LUNC DAO as part of its weekly burn initiative. The DAO has been consistently contributing to token burns since the initiative’s inception, with occasional dips in its burn rate. Even during those dips, the validator has still managed to incinerate millions of tokens, demonstrating its commitment to the campaign.
