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Terra Classic (LUNC)
​Terra Classic (LUNC) is the original native cryptocurrency of the Terra blockchain, which existed prior to the catastrophic collapse of its algorithmic stablecoin, TerraUSD (UST), in May 2022.
​Key Points:
​The Rebranding: Following the collapse, the community decided to fork the blockchain. A new chain (Terra 2.0, using the token LUNA) was launched without the algorithmic stablecoin mechanism. The original, broken chain continued to exist and was renamed Terra Classic, and its native token was subsequently renamed LUNC (Luna Classic).
​Legacy Token: LUNC is now considered a legacy token. It operates under immense supply pressure, as its circulating supply dramatically increased during the de-peg event.
​Community-Driven Revival: The LUNC ecosystem is now largely maintained and driven by its community. Efforts are focused on implementing revival mechanisms, primarily a high-volume token burn mechanism (often applied to transaction fees) and staking, in an attempt to reduce the circulating supply and stabilize the token's value.
​Volatility: LUNC is known for extreme price volatility, driven heavily by speculative interest and community milestones regarding the token burns.
​In short, LUNC represents the original, volatile token of the legacy Terra chain, now operating independently from the new Terra (LUNA) network.$LUNC #btclunc #BinanceBlockchainWeek #LUNCDream #LUNCNetworkUpgrade