More Than 2 Trillion Terra Luna Classic (LUNC) Tokens To Be Burned By Kaj Labs

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Terra LUNC Community Approves New Measure to Reduce Tax Burn
Terra LUNC Community Approves New Measure to Reduce Tax Burn

‘Finesse,’ a two-chapter Play-to-Earn (P2E) game from Lithosphere, has announced that it intends to support Terra Classic’s (LUNC) ongoing burn program.

Related also: Terra Classic USD (USTC) is Now Available on Binance Cross-Border and Isolated Margins as a New Borrowable Asset

Kaj’s Intention For LUNC Burns

The team behind the upgrade of Lithosphere blockchain, Kj Labs, has stated that it intends to integrate LUNC into the Finesse game in order to increase the number of LUNC burns when players use Terra Classic during gameplay.  

KAJ Labs also stated that all LUNC tokens used in Finesse during gameplay would be burned. Kaj Labs confirmed that it would allocate between $50 million and $100 million to burn up to 2.5 trillion LUNC tokens to accommodate and support the LUNC burn program.

Finesse developers said in a statement:

“If Terra Classic is implemented in the game, all LUNC used in the game would be burned during gameplay. To accommodate the burn, KaJ Labs will allocate $50 million to $100 million to burn up to 2.5T Terra Classic in Finesse games”.

 Note that this does not imply that 2.5 trillion LUNC will be burned instantly; rather, it predicts terra classic burns over time as the game develops.

Finesse is a two-part gaming series consisting of two P2E games, The Kingdom and Shadow Warriors. Both games feature ninja samurai, warrior fighting, knights, and vampires in a variety of adventures that players can easily personalize to their liking.

Today, the team launched its unique non-fungible token, which includes 100,000 unique characters divided into five categories.

Related article: Tezro Payment Solutions Adds Supports for Terra Classic USD (USTC) 

Terra Classic Investors’ Enormous Benefit 

Kaj’s intention to burn up to 2.5 trillion LUNC tokens is a significant step toward reviving the LUNC value. Remember that after the Terra ecosystem collapsed in May, LUNC investors suffered massive losses. The Terra team abandoned LUNC holders to resurrect the token on their own because the team had different plans to launch Terra 2.0.

To bring LUNC back to life, the community agreed to burn a portion of the token’s total supply through a 1.2% tax burn and other voluntary individual efforts.

With no investors left to resurrect LUNC, several crypto-related companies have pledged their support for LUNC burns. Binance announced last month that it had implemented a burn mechanism that would burn the fees on LUNC spot and margin trading pairs. Other major exchanges, such as Kraken, Crypto.com, Kucoin, and Mexc Global, have also taken steps to assist the Terra Classic community and LUNC Burns.

Yesterday, the top Curacao-licensed casino began accepting Terra Classic as a payment method and supporting LUNC Burns.

Terra Classic core developer Edward Kim explained in a Medium blog post published on Thursday that Terra Classic (LUNC) will see a significant increase in the number of projects as Terra Rebels eliminate reliance on Terraform LAbsm (TFL).