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Why do people burn their luna?
A twon founder of Terra founder Do Kwon triggered a community meme to "burn" Luna. The effects of combustion on Luna supply are negligible, and the people are waste the value they still have by opting against the planned network relaunch, the influential founder and CEO of Terraform Labs, creator of the Terra Blockchain, took part in a de-facto twitter question and answer session on Saturday. The topics were enough for whether he is on the run from the tax authorities in Seoul and why the company's lawyers all have terminated his thoughts on the latest proposal for Terra details. A questioned asked about the ...
Why do people burn their luna?
- a tweet from Terra founder Do Kwon triggered a community meme to "burn" Luna.
- The effects of combustion on Luna supply are negligible, and the people waste the value they still have by choosing the planned network relaunch
The influential founder and CEO of Terraform Labs, creator of the Terra blockchain, took part in a de-facto twitter question and response session on Saturday. The topics of whether he is on the run from the tax authorities in Seoul and why the lawyers of the company All have terminated to his thoughts The latest proposal for the "rebirth" of terra Details.
There Asked a surveyed about the burning of Luna-a mechanism with which Luna holder effectively send her token into a black hole can to reduce the circulating offer.
about 10,000 retweets and quote tweets later and 280.67 million Luna over around 2,500 transactions were forgotten-worth around $ 52,000, as of Monday at 12:30 p.m.
This is a drop on the hot stone in view of the circulating Luna supply of 6.5 trillions, but most participants seem to operate under the influence of topics and wishful thinking.
let us get this wider distribution. People start sending Luna here in the community style.
925k burned.
250k burned.
We can do that.
- Infiniaturen (@infiniaturen) 21. May 2022
buy and burn huge quantities so that a whale, if it wants to buy, have to buy expensive and increase the price as far as possible! .
- kotsaridis (@kotsaridis11) 22. May 2022
The burning frenzy comes when the price of Luna rose by about 75 % and is traded by 0.000185 at the time of writing. On April 5, 2022, Luna was traded at $ 119.
By burning token, Luna owners lose all authorization for new Luna tokens after a planned snapshot on May 27th and the start of the new network.
do Kwon later tried to clarify any confusion about the advantages of the idea.
"To clarify, as I have noted several times, I don't think it is a good idea of sending Token to this address to burn token - nothing happens unless you lose your tokens." He wrote on Twitter.
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The contribution Why do people burn their luna? is not a financial advice.