Terra Classic has been outperforming all top-ranking cryptocurrencies with its price increasing 250% so far in September. Here is what you need to know about the LUNC rally:
Terra Classic is returning users with an annualized yield of 37.8%, among the highest payout in the crypto industry.
The higher returns could have played a key role in boosting LUNC demand, prompting the token’s price to rise by more than 450% since the staking service launch, as shown in the chart below.In addition to staking, Terra Classic developers have also introduced a token-burning mechanism to boost LUNC’s scarcity.
Terra Classic’s community member Edward Kim proposed to impose a 1.2% transaction tax on LUNC on-chain transactions at the beginning of September. The proceedings made from this tax would eventually end up in a dead address, thereby permanently removing a portion of LUNC’s supply from circulation.This comes after a proposal to implement a 1.2% token burn tax on all transactions that will enable
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