What is the issuance and circulation of LUNC coins?

LUNC, the native token of Terra Classic, has a total supply of 6.9 trillion, of which 93% is currently circulating, with a burn mechanism to reduce its supply and stabilize its price fluctuations.

Oct 24, 2024 at 06:39 pm

Issuance and Circulation of LUNC Coins

LUNC, formerly known as LUNA, is the native token of the Terra Classic blockchain. It underwent a significant transformation following the collapse of its ecosystem in May 2022.

1. Token Issuance

Total Supply: 6.9 trillion LUNC (as of May 26, 2023)
Initial Allocation: 90% of the token supply was distributed to LUNA holders during the Terra blockchain's relaunch as Terra Classic.

2. Token Distribution

Community Pool: 20% (reserved for development, community incentives, and burns)
Developer Funds: 15%
Binance: 6%
Other Exchanges: 4%
Remaining Supply: Distributed to LUNA holders and early adopters

3. Burn Mechanism

Terra Classic implemented a burn mechanism to reduce the circulating supply of LUNC.

0.2% burn tax on all on-chain transactions
Regular burns conducted by LUNC community organizations (e.g., LunaBurn)

4. Current Circulation

According to CoinMarketCap, the current circulating supply of LUNC is approximately 6.4 trillion, representing approximately 93% of the total supply.

5. Price History

The price of LUNC has fluctuated significantly since its relaunch.

Initial Price (May 2022): $0.00001
All-Time High (June 2022): $0.000555
Current Price (May 2023): $0.00017

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