The Terra Classic (LUNC) revitalization plan remains a significant goal for the community, as evidenced by recent developments. Most recently, the LUNC network was recently upgraded to accommodate the increase of the burn tax to 0.5%. However, it remains to be seen how effective this move will be in the revitalization plan.
The Terra Classic revitalization plan centers around the burn campaign and other initiatives such as staking. An increase in burns will support the asset’s recovery goal. However, the rate of burns will depend on adoption.
LUNC is trading for $0.00008752, down 1.59% in the past 24 hours. The asset currently has a circulating supply of 6.61 trillion tokens, with about 58.6 billion burned so far. At the current burn rate, the community would take approximately five years to burn 393 billion tokens (5.7% of the total supply).
