Terra Classic Project Burns 2 Billion LUNC Tokens, Overtaking Binance Burn
DFLunc Burns 2 Billion Terra Classic Tokens Binance burned 1.27 billion LUNC as part of its monthly LUNC burn mechanism on May 1. Until now, Binance has burned 31.83 billion LUNC tokens. advertisement DFLunc on May 12 shared on Twitter that it has burned over 1.6 billion LUNC, overtaking Binance’s 1.27 LUNC burn. The Terra Classic community burned almost 2 billion LUNC through DFLunc Protocol as it begins to attract attention. The DeFi protocol consists of multiple smart contracts to deflate LUNC supply through a continuous burn mechanism. DFLunc Protocol is also a validator for Terra Classic that allows users to mint its DFC token only by burning LUNC tokens. It utilizes two smart contracts based on CosmWasm — DFLunc and CW20-DFC. Users burn LUNC by paying USTC as protocol fees to mint DFC tokens. Staking more through the validator burns more LUNC by the DeFi protocol. The protocol has divided its plan into different stages that ultimately ai...