"Hmmm it's over, it's not just burning that LUNC's life can continue"
The Terra Classic Token (LUNC) was hit when cryptocurrency exchange giant Binance suddenly stopped burning the digital asset until March 2023.
The action was implemented following the commodity pool funding* contained in Proposal 100983 and Proposal 11111, where LUNC was reprinted as a development fund.
*Investments or similar entities that trade commodity futures contracts for the benefit of investors.
It is also worth noting that Binance is in the process of further improving the LUNC burning mechanism to support its community in reducing the supply of the digital asset.
The streak, the company will burn 50% spot trading fees and LUNC margin than before by 100%.
Binance and the Terra Grants Foundation, led by Edward Kim, the main developer of LUNC, also jointly discussed changes or developments that should be made in the near future.
Among the ideas mentioned is to create a new burn wallet to avoid reprinting LUNC and approve the Binance wallet so that there is no need to be taxed when doing transfer activities.
However, Binance is likely to stop the burning mechanism if the LUNC community fails to implement the reforms as soon as possible.
In the meantime, the LUNC DAO validator accused Terra Rebels of being the cause of his broken relationship with Binance and suggested that his community meet Binance's requirements.
As of this writing, LUNC price has seen a decline in the 0.000163 zone in the last 24 hours from the previous high of 0.000185.
