- Members of the LUNC community explore shortening the 21-day staking withdrawal delay to attract more users and boost staking usability.
- LUNC stakeholders have placed more than 1 trillion LUNC into staking while the circulating supply stands at 5.44 trillion LUNC as stakeholders debate security tactics against accessibility.
- Supply reduction in the Terra Luna Classic ecosystem intensifies through LUNC and USTC burning while Binance dedicates 400 billion LUNC to the reduction process.
The Terra Luna Classic (LUNC) community is evaluating potential changes to its staking model, particularly the 21-day withdrawal period. The Crypto News Portal on X has proposed examining the existing wait period since it might discourage new users from adopting LUNC. The community evaluation of flexible staking options has gained support from members who want to improve the program’s attractiveness.
The staked LUNC quantity exceeds 1 trillion across a circulating supply that amounts to 5.44 trillion tokens. An extensive withdrawal delay on the Crypto News Portal could be the reason for reduced participation according to their findings.
Users support shortening the wait time for staking, but they do not specify a definite period. Some users in the X community such as Vivid BNB believe that staking requires patience as the 21-day waiting period is needed to maintain long-term stakeholder involvement.
Ongoing Ecosystem Developments
The Terra Luna Classic ecosystem continues working on supply reduction measures that transcend the discussion about staking. The community has transported 405 billion LUNC tokens to burn since the beginning of May 2022. The circulation numbers of TerraClassicUSD (USTC) stablecoin have undergone a reduction exceeding 3 billion tokens. The ongoing burns operation attempts to minimize the total supply which will create scarcity that could affect LUNC’s market value.
Binance, as the leading cryptocurrency exchange, takes a central part in LUNC’s plan to decrease its token supply. The platform executed 400 billion LUNC burns which serve as one key method to reach community goals of stabilizing tokens and re-pegging USTC. The Terra Luna Classic ecosystem maintains continuous focus on this initiative because it remains one of its key operational priorities.
LUNC and USTC Price Trends
The efforts to support LUNC have not prevented the token from experiencing substantial price swings. The cryptocurrency market performance raised LUNC pricing which it later returned to previous gains. The price of LUNC stood at $0.00005957 when data collection took place as its value decreased by 7.13% within 24 hours. Meanwhile, USTC dropped 3.84%, reaching $0.01188.
The reduction in Bitcoin values and broader market decline affected LUNC token movements yet supporters claim that developing a better staking system would make LUNC more stable in the long run.
A modification of the staking model according to the Crypto News Portal and other community members would enhance LUNC’s appeal. Shortening the staking withdrawal period would invite more users to participate, thus strengthening network engagement and improving liquidity. A decision about changes needs extensive agreement from validators together with stakeholders.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
