The most recent disclosure demonstrates the independent development group’s dedication to reviving Terra Classic (LUNC).
TerraCVita, a non-profit organization dedicated to developing the Terra Classic (LUNC) asset, has revealed that its internal roadmap includes provisions that would result in the burning of trillions of LUNC tokens. The announcement comes as the community prioritizes token burns as the campaign to revitalize the asset ramps up.
“Spoiler – Our internal roadmap includes milestones to burn Trillions of LUNC,” the official handle of the TerraCVita group disclosed today.
While some community members have reacted positively to the news, others are skeptical, pointing out that several entities have made similar promises in the past. For example, the Lithosphere (LITHO) blockchain team published a roadmap in October with plans to burn up to 2.5 trillion LUNC.
With a current supply of 5.9 trillion tokens, LUNC’s circulating supply would be drastically reduced if trillions of tokens were incinerated, which could significantly impact its price. Nonetheless, given the current lack of information, the mode of use of this burn and its timeline is unknown. 35.7 billion LUNC tokens have been burned, with Binance accounting for 20.1 billion.
TerraCVita’s Contributions to the Ecosystem
It remains to be seen whether TerraCVita will keep its word. Regardless, the group’s presence in the LUNC camp is undeniably noticeable. TerraCVita announced a partnership with High Stakes Switzerland, a company that runs validators for PoS networks, in September. High Stakes would launch a LUNC validator as part of the partnership to help generate funds for the network’s development.
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Following Terra Rebels’ decision to discontinue support for the Terra Station wallet last week, further development of the wallet infrastructure was assigned to TerraCVita, indicating its importance to the community. The group has been involved in several proposals, governance votes, and developments supporting LUNC.
In addition, TerraCVita and one of its most prominent members, Rex “Rexzy” Harrison, were involved in the launch of the Terra Casino gambling platform, which has committed to burning millions of LUNC tokens, with 12.9 million LUNC burned in less than a month.