New Luna Classic Lottery Game Burns 10.6 Million LUNC
The first decentralised app (dApp) created by Terra Rebels has burned 10.6 million LUNC in its first week of launch.
The Terra Rebels Lottery costs 5,000 Luna Classic (LUNC) tokens per ticket, with 60% of the lottery pool going to the winner. The first winner of the Terra Rebels Lottery won 24.3 million LUNC worth $5,400.
A further 26% of each Lottery pool is burned from supply – in the first week, 10.6 million LUNC worth $2,300 was destroyed.
Terra Rebels is an unofficial lead development team, who were behind the LUNC 1.2% burn tax proposal which pumped the LUNC price in September. Terra Rebels announced the Terra Luna Classic lottery on October 29th. They called it their ‘first layer 2 application’.
Will Luna Classic Lottery pump the LUNC price towards $1?
The Binance crypto exchange announced its first week of LUNC burns back in September – it was over 5.5 billion LUNC. Had LUNC burning continued at the same rate it would be on track for a LUNC price of $1 within 25 years.
But then the LUNC community voted to reduce the burn tax from 1.2% to 0.2%.
The Binance crypto exchange burned just 1.3 billion LUNC in the first week of the burn tax reduction. Should LUNC burning continue at this rate plus weekly lottery burns, it would take an estimated 98 years until LUNC is within range of a $1 price.
EverGrow – DeFi solution to burn $0.00000012 to $1 in the next 20 years
Read more about EverGrow here: https://evergrowegc.com/
EverGrow is on track to burn from $0.00000012 to $1 in the next 20 years. So why is it burning much faster than Luna Classic (LUNC)?
EverGrow sets a bold 14% transaction tax, with 2% sent to buy EGC tokens from a decentralised exchange (PancakeSwap) and burn it from supply. The tax is high but it has burned through 2.5% of the total EverGrow supply in the past 12 months.
With 53% already burned from the initial EverGrow supply, it’s on track for a $1 price in the next 20 years.
The EverGrow team is amplifying the burn rate in 2022 – but in a different way to LUNC. EverGrow launched an NFT marketplace with 100% of revenue destined to buyback and burn EverGrow. The revenue will be ramped up again with the launch of a social media app with crypto content subscription payments and tips before the end of the year.
With strong utility and a small market cap ($50 million) EverGrow is aiming to leave LUNC in the dust when the crypto industry catches on to its DeFi solutions.
Read more about EverGrow here: https://evergrowegc.com/
The post New Luna Classic Lottery Game Burns 10.6 Million LUNC appeared first on Analytics Insight.
The first decentralised app (dApp) created by Terra Rebels has burned 10.6 million LUNC in its first week of launch.
The Terra Rebels Lottery costs 5,000 Luna Classic (LUNC) tokens per ticket, with 60% of the lottery pool going to the winner. The first winner of the Terra Rebels Lottery won 24.3 million LUNC worth $5,400.
A further 26% of each Lottery pool is burned from supply – in the first week, 10.6 million LUNC worth $2,300 was destroyed.
Terra Rebels is an unofficial lead development team, who were behind the LUNC 1.2% burn tax proposal which pumped the LUNC price in September. Terra Rebels announced the Terra Luna Classic lottery on October 29th. They called it their ‘first layer 2 application’.
Will Luna Classic Lottery pump the LUNC price towards $1?
The Binance crypto exchange announced its first week of LUNC burns back in September – it was over 5.5 billion LUNC. Had LUNC burning continued at the same rate it would be on track for a LUNC price of $1 within 25 years.
But then the LUNC community voted to reduce the burn tax from 1.2% to 0.2%.
The Binance crypto exchange burned just 1.3 billion LUNC in the first week of the burn tax reduction. Should LUNC burning continue at this rate plus weekly lottery burns, it would take an estimated 98 years until LUNC is within range of a $1 price.
EverGrow – DeFi solution to burn $0.00000012 to $1 in the next 20 years
Read more about EverGrow here: https://evergrowegc.com/
EverGrow is on track to burn from $0.00000012 to $1 in the next 20 years. So why is it burning much faster than Luna Classic (LUNC)?
EverGrow sets a bold 14% transaction tax, with 2% sent to buy EGC tokens from a decentralised exchange (PancakeSwap) and burn it from supply. The tax is high but it has burned through 2.5% of the total EverGrow supply in the past 12 months.
With 53% already burned from the initial EverGrow supply, it’s on track for a $1 price in the next 20 years.
The EverGrow team is amplifying the burn rate in 2022 – but in a different way to LUNC. EverGrow launched an NFT marketplace with 100% of revenue destined to buyback and burn EverGrow. The revenue will be ramped up again with the launch of a social media app with crypto content subscription payments and tips before the end of the year.
With strong utility and a small market cap ($50 million) EverGrow is aiming to leave LUNC in the dust when the crypto industry catches on to its DeFi solutions.
Read more about EverGrow here: https://evergrowegc.com/
The post New Luna Classic Lottery Game Burns 10.6 Million LUNC appeared first on Analytics Insight.
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