A court settlement mandates Terraform Labs to burn LUNC coins, as part of a $4.5 billion settlement with the SEC. This action is expected to cause a supply shock, potentially leading to a price surge for LUNC.
The burning of LUNC tokens aligns with the Terra Classic community's mission to remove coins from circulation, aiming to push the coin's value back to its all-time high.
The Terra Classic community has already burned 135.54 billion LUNC coins since May 2022, but much work remains with a circulating supply of 6.76 trillion coins.
Other measures include proposals to improve the LUNC ecosystem, such as removing forked modules to reduce technical debt and align with the Cosmos ecosystem.
The LUNC price is currently $0.0000925, down by over 2% in the past 24 hours.
