According to a Bloomberg press release posted today, Kaj Labs shared that it does not plan to collaborate with Binance in burning 2.5 trillion Terra Classic (LUNC).
“Rumors and reports have been circulating online indicating that Lithosphere/KaJ Labs is working with Binance on the 2.5 trillion Terra Luna Classic (LUNC) burn,” the firm wrote. “KaJ Labs wants to make it clear with audiences and the community that this has no basis in truth or fact.”
Read more: Terra LUNC Community Approves New Measure to Reduce Tax Burn
A further claim Kaj Labs makes is that it has no affiliation with Binance or its affiliates, claiming they are only connected by Lithosphere, a network developed by Kaj Labs, operating on the Binance Smart Chain (BSC). Although the company is willing to enter into such a partnership in the future if the opportunity arises, this is not the case at the moment.
Based on the report posted by fxcryptonews, Kaj Labs revealed in early October that it planned to burn 2.5 trillion Terra Luna Classic (LUNC) over time by integrating the token with its play-to-earn (P2E) game dubbed Finesse. Notably, the company hinted at a partnership with independent Terra Classic development group Terra Revels in a roadmap released a week later.
The Terra Rebels, however, have disassociated themselves from the company and the game. Notably, reXx of the Terra Rebels stated that no contact had been made between the Rebels and Kaj Labs.
It’s important to note that Kaj Labs has confirmed that the first chapter of the game will be available on December 18. Remarkably, the company claims that the public will be able to track the burn in real-time via a website that will be released alongside the game.
Read article: Allnodes Burns Over 56 Million Lunc, Intends to Burn Lunc on a Weekly Basis Until the End of 2022
