$LUNC is the native cryptocurrency of the original Terra blockchain, now rebranded as Terra Classic after its May 2022 collapse.
Function: LUNC was originally designed to work with an algorithmic stablecoin (UST) to maintain price stability, but that mechanism failed. Today, it is used for governance, staking to earn rewards, and as a fee/tax payment mechanism within the Terra Classic network.
Community-Driven: Development of the Terra Classic network is now community-driven, focused on network upgrades and "burn" mechanisms to reduce the massive supply.
Speculative Asset: Due to the historical crash and ongoing community efforts, LUNC remains a highly speculative asset.
Recent News: A recent single transaction by Binance destroying over 5 billion LUNC tokens sparked a temporary price surge, highlighting the community's focus on supply reduction efforts."
#GoldSilverAtRecordHighs #MarketRebound #Write2Earn $LUNC
