Terra Rebels Back to The Drawing Board in Search of Answers

• Citing information from Terra Rebels’ official Twitter handle, there was a need to create more effective ways to burn LUNC tokens.
• Terra rebels plan to revive LUNC’s price in one year through an official LUNC roadmap from Q2 2022 to Q2 2023.

After the Terra massacre that swept off billions of assets from investors, The Terra community went back to the drawing board bringing forth a new token, the Terra Classic (LUNC). As a way of reviving its price, the community decided on ways to remove LUNC tokens from circulation one which was burning them.

About a month ago, the LUNC community embraced the 1.2% tax burn mechanism on-chain transactions. Now, in a new tweet, Terra rebels revealed that there was a need to create more effective ways to burn LUNC tokens.

Citing information from the official Twitter handle of Terra Rebels, they had a long conversation with  Demon Monkey 777, one of the associates committed to the development of LUNC about bringing about more ways to burn Terra Classic.

Focusing on more ways to create an effective way to burn LUNC tokens, The team figured out that creating more use of the Terra Classic LUNC token would see various decentralized applications Dapps compete to burn more LUNC tokens.

Staking and implementing the 12% tax burn has indeed played a big role in removing a big chunk of LUNC tokens from circulation, but Terra rebels do not want to rely on the initiative only. With that in mind, Terra developers believe more is needed to be done especially by creating more utility and development.

The tweet read;

Had a full 4hr+ chat withDemon Monkey 777 last night and we both ‘personally’ agree a more effective way to burn the  LUNC mountain is through utility and building with dApps competing to burn the most LUNC, rather than an on chain tax, just as Binance is doing voluntarily.

Terra rebels, a Terra-based community, plans to revive LUNC’s price in one year. Focusing on that, the team released an official LUNC roadmap from Q2 2022 to Q2 2023.

At the time of writing, LUNC is exchanging hands at $0.0002744, a 1.26% uptrend in the last 24 hours.