Terraport’s Ultimate Goal is to Burn LUNC, Not TERRA

Terra Classic Up by 3.25% as Crypto Market Turns Green

A well-known Terra Classic (LUNC) influencer named Classy Crypto recently defined the ultimate goal of TerraCVita’s newly launched Terraport project, whose native currency is TERRA.

The project’s objective, according to Classy, is to support LUNC burning rather than raise TERRA to $1.

Wednesday, Classy clarified this in a tweet by pointing out that TERRA seeks to increase the volume of LUNC. 

He also disclosed that the Terraport team would use a significant percentage of the project’s Treasury to burn more Terra Classic tokens. 

“Bringing MASSIVE burns to LUNACLASSIC is the ULTIMATE objective for our endeavor,” he continued.

https://twitter.com/ClassyCrypto_/status/1643666087114833930?s=20

Related: https://www.fxcryptonews.com/terra-classic-a-viewers-favorite-in-europe-and-asia/ 

Terraport is Focused on Lunc Burn

Classy’s recent comments demonstrate to the larger LUNC community that Terraport is still interested in LUNC and not just its governance token, even though many TERRA holders are looking for a rally that may lead to a price of $1.

Recall that the Terraport team said that 27% of the weekly project fees would go toward buying back and burning LUNC tokens.ย 

Classy had a vague response when asked for a definite date for the first Terra Classic burn, but he affirmed that the LUNC burn would occur.

The staking project has progressed since the Terraport launch, making TERRA staking and farming possible. 

Classy just made a note of the fact that staked tokens have at last surpassed the 30 million mark.

https://twitter.com/ClassyCrypto_/status/1643686297419096080?s=20

Now, 31.1 million TERRA are staked, with the liquidity pool farm holding locks worth up to $659,799. 

With the achievement of these goals, Classy announced that Terra Classic burning would soon start. LUNC to $1 is still the aim, Classy said in response to the query.

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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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