Wednesday, February 8, 2023
HomeCrypto NewsFirst 1M LUNC Burn at Terra Classic Casino

First 1M LUNC Burn at Terra Classic Casino

- Advertisement -

Terra (Classic) Casino, a recently formed gaming platform, has started contributing to the Terra Classic (LUNC) burn campaign as incineration increases to adhere to the 0.2% burn rate that was previously pledged to the community.

Following burning the first 1 million LUNC tokens, the betting platform has updated its commitment to the burning effort by sharing its contribution. It took four days of nonstop burning to obtain the 1M burn goal. A fascinating future community event was also mentioned on the platform.

“Woo hoo, we’ve just burnt our first million #LUNC.

And in only four days… And there’s a fab surprise coming to

Thanks all who’s helping out,” Terra Casino disclosed in a tweet Friday as it shared a dashboard that revealed a burn achievement of 1,096,015 LUNC.

Read more: Developers of Terra Classic Argue Over Millions In Off-Chain Assets

Rex “Rexzy” Harrison, Head of Development at TerraCVita and an influential member of the Terra community, commented on the news with excitement. He also emphasized the potential heights the platform might achieve through LUNC burns, provided they have enough community support. Rexzy further stressed that its 1M LUNC burning only applies to deposits and withdrawals made on-chain.

“Wow, TerraCasino_io soon got to 1m #LUNC burned, and this is just deposit and withdrawals on the chain.

The more we support them, the more they burn,” Rexzy noted in response to Terra Casino’s previous tweet.

Members of the LUNC community have responded to the development in various ways; some have praised the newly created platform for its dedication, while others have criticized it for having a low burn rate and being unable to verify the accuracy of its burn claim on the blockchain. It’s important to note that, at current values, the 1,096,015 burn is worth an estimated $176. The issue of transparency was brought up on the casino’s opening day.

Remember that Rexzy announced the casino opening last Thursday, and TerraCVita confirmed that it might burn up to 26B LUNC in that time. Importantly, the casino intends to burn 0.2% of the total LUNC betting volume.

Rexzy debuted the casino as TerraCasino.io two days later and named OwlDao, the seventh-largest dApp in the cryptocurrency industry, as its partner. Rexzy’s announcement triggered controversy because, as fxcryptonews previously reported, TerraCasino.money, another betting company, accused Rexzy of stealing its launch and vendor partners.

- Advertisement -
RELATED ARTICLES
- Advertisment -spot_imgspot_img

Most Popular