waiting on $LUNC
Post
TILA rsFx
·
--
🚨 THE FATE OF LUNC IS IN THE HANDS OF THE VALIDATORS: UNDERSTAND THE JUDICIAL BURN! 🔥
Many investors still believe that the burn of 2.4 to 2.7 trillion LUNC tokens depends on new processes or the judgment from Jane Street. That's a myth!
The court order for the destruction of these coins has already been signed by the Delaware Bankruptcy Court as part of the final wind-down plan for Terraform Labs (TFL). The company has been expressly ordered to clear its wallets and burn its assets.
How does execution work in practice?
TFL has lost control: The company is being liquidated and winding down its operations. They can't just hit a "burn" button in the traditional sense because the blockchain is decentralized.
The role of the Validators: The Terra Classic network belongs to the community. For TFL's and LFG's institutional tokens to be effectively purged and removed from the circulating supply, the technical proposal needs to go through governance voting.
The final verdict: It's the network validators who need to approve the code and update the blockchain nodes to execute the definitive invalidation of those wallets.
Summary for the investor: The courts have given the green light, and TFL is exiting the scene. The deflationary math that could slash LUNC's supply nearly in half and change the price level now solely depends on the technical alignment and attitude of our validators.
The infrastructure is ready and secure after the latest updates. The power is 100% in the hands of the community! 🚀
$LUNC
Many investors still believe that the burn of 2.4 to 2.7 trillion LUNC tokens depends on new processes or the judgment from Jane Street. That's a myth!
The court order for the destruction of these coins has already been signed by the Delaware Bankruptcy Court as part of the final wind-down plan for Terraform Labs (TFL). The company has been expressly ordered to clear its wallets and burn its assets.
How does execution work in practice?
TFL has lost control: The company is being liquidated and winding down its operations. They can't just hit a "burn" button in the traditional sense because the blockchain is decentralized.
The role of the Validators: The Terra Classic network belongs to the community. For TFL's and LFG's institutional tokens to be effectively purged and removed from the circulating supply, the technical proposal needs to go through governance voting.
The final verdict: It's the network validators who need to approve the code and update the blockchain nodes to execute the definitive invalidation of those wallets.
Summary for the investor: The courts have given the green light, and TFL is exiting the scene. The deflationary math that could slash LUNC's supply nearly in half and change the price level now solely depends on the technical alignment and attitude of our validators.
The infrastructure is ready and secure after the latest updates. The power is 100% in the hands of the community! 🚀
$LUNC
Disclaimer: Includes third-party opinions. No advice. Binance AI may be used without guarantee. See T&Cs.