The Trick To Burn More Terra Luna Classic (LUNC) With Staking

2 years ago · Updated 12 months ago

✍️ 27 December, 2023 - 16:09 👤 Editor: Jakub Motyka

The Eris Protocol staking platform introduces a new Terra Luna Classic (LUNC) burning mechanism.
It allows to increase the burning of LUNC, the new crypto of LUNA, through the staking of cryptocurrencies.

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The burning of Terra Luna Classic (LUNC) has just received a new ally. Eris Protocol, a decentralized liquid staking platform built on the Terra blockchain, has just released a new feature to burn more LUNC tokens with the same investment.

Eris Protocol, in addition to having contributed to the burning of 2.5 million LUNC tokens, has just launched its staking service liquid on the Terra Luna Classic blockchain and has decided to make known its alternative to increase the burning of Terra Luna Classic.

Staking Terra Luna Classic (LUNC) Allows To Burn More Tokens

As @LUNCDAO has commented, Eris Protocol offers the possibility of liquid staking with Terra Luna Classic (LUNC), thus converting the user's LUNC tokens into ampLUNC for the duration of the staking, and obtaining interest in exchange for leaving the cryptos blocked for a time. But there is an advantage to LUNC burning in this system.

1/ THE HOLY DAY OF BURNING IS HERE

But it gets better. We found a way to burn WAY more for the same cost by working with https://t.co/kgQBk9oaUF 🧠🧠🧠, who just launched on $LUNC

You can also use this to multiply your $LUNC

They also contributed 2.5M $LUNC today 🫶

🧵👇👇👇 pic.twitter.com/mGpdBJRgTb
— 🔥🙏 𝕃𝕌ℕℂ 𝔻𝔸𝕆 🙏🔥 (@LUNCDAO) September 12, 2022

If instead of sending LUNCs to the Terra burn wallet, ampLUNCs are sent, the burning of the crypto will get bigger and bigger since you will continue to receive the income from staking and, therefore, the burning of the tokens sent will get bigger and bigger.

Eris Protocol offers a type of cryptocurrency staking known as liquid staking, which differs from conventional staking in that the user who deposits his cryptos to make staking still has access to your cryptocurrencies to be able to trade them, although always in the form of a different crypto (in this case, ampLUNC instead of LUNC strong>).

LUNC Price Continues To Drop This Week

After hitting highs recently, the price of the Terra Luna Classic LUNC crypto is trailing a drop that has lasted several days. It is currently trading at $0.0002847, with a market capitalization of $1,751,192,479, far removed from the price of $0.0005482 that this crypto reached in the last month.

More crypto news:

Luna Terra Classic (LUNC) Tax Burn Creator Takes Distance From Do Kwon

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Juan Pais

E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.