Terra Casino, Classy Crypto, and Others Join Forces to Burn 50M LUNC in 2 Month

Edward Kim Proposes Solution to Reimburse Affected LUNC Users

There was a large burn of 12.4 million tokens on Monday morning, with the recently launched Terra Casino and LUNC influencer Classy contributing each 8 million tokens. Leading validator LUNCDAO burned the remaining tokens twice in equal amounts.


LUNCDAO, an independent LUNC validator, completed today’s burns. In two equal transactions of 2.2M LUNC each, the validator burned 4.4M LUNC tokens. 2,235,829 (2.2M) tokens were burned in the first transaction of today at 1:02 AM (UTC). Little more than a minute later, the second transaction took place.

With the most recent transactions, LUNCDAO’s total burns since joining the burning campaign have reached 431.5M, making it the fifth-largest burner. The validator burned up to 22M tokens in one of its biggest single burns in October last year. Including tax burns, the total cumulative burns from all entities currently stand at 37.2 billion tokens.

Read also: Terra Classic Request to Give $141k To L1 Team Now Approved

Terra Casino’s Burns

Terra Casino conducted the most recent burn transactions to adhere to its commitment to burn 0.2% of the total gambling volume. Classy and Terra Casino worked together to start the most recent burn. According to Terra Finder data, the transaction that led to the burning of 8,022,430 (8M) tokens took place today at 1:58. (UTC).

The memo on the transaction reads “BettingBurn5x_TerraCasino+ClassyCrypto,” signaling a collaboration between Terra Casino and Classy. Moreover, Terra Casino highlighted the development through its Twitter handle today. “. . .this is also our first sponsored tandem burn with this week’s guest pyromaniac ClassyCrypto_ helping hold the match,” the platform showed.

Since the platform’s introduction two months ago, 52.1 million LUNC tokens have been burned. 44 million tokens were burned by the betting volume, burning 8.1 million LUNC from deposits and withdrawals. Terra Casino, launched in November, was reportedly capable of burning 24 billion tokens within six months.
According to a previous report, the gambling platform burned its first million tokens four days after launching. Despite burning slower than anticipated, Terra Casino has persisted in its campaign support, offering to burn more in exchange for increased community support. It is currently the 11th largest burner.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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