Famous US politician David Gokhshtein shared his views on LUNC, the old token of the collapsed Terra ecosystem. Gokhshtein also revealed the way for LUNC to return!
David Gokhshtein: LUNC is a lottery ticket for now!
cryptocoin.comThe most dramatic event of the recent crypto crash was Terra. Not only did it collapse, it also raised serious doubts about the crypto ecosystem. It is still on the agenda with its old and new tokens, even though it has been a long time since the event.
David Gokhshtein, founder of Gokhshtein Media, shared his views on Terra’s legacy token LUNC. Gokhshtein noted that it would be possible to return if he abandons his ‘lottery ticket’ status and the community creates a legitimate use case. In this context, the US politician made the following assessment:
LUNC is run by a community, not by Kwon. Half of them jumped into this mess just to gamble. The other half are those who suffered from the collapse. If they can find a way to establish a legitimate use case, that would be an impressive turnaround. However, it’s just a lottery ticket for now.
Gokhshtein refers to the LUNC as a lottery ticket, as in the classical musical chair game for children. When the music stops, everyone has to find a chair to sit on. However, there are always fewer chairs than players. In the example of Gokhshtein LUNC also implies that those who have a bag full of these tokens are always the ones without a chair. In a nutshell, Gokhshtein says LUNC is mostly bought by gamblers to make quick money.
Here is the biggest challenge
Meanwhile, Terra Classic reiterates its claim to community ownership. He also suggests that he completely broke up with Terra’s founder, Do Kwon. However, Will Chen, a former developer at Terra, raises some important issues:
Who are the LUNC whales? Who controls the network? And, how possessive is the ‘community’ relative to a few bad actors buying at asymptotic prices?
From this point of view, Chen states that it will be difficult to attract projects that will be built on Terra Classic until the rebels figure out who they are working for. In addition, the 1.2% tax cut plan will take effect on September 21. So it also highlights the need to clarify incentives.
However, the legal situation involving Terra CEO Do Kwon is heading in another direction. There were rumors that Kwon was in Singapore. However, Singapore police stated that he is no longer in the country. Therefore, this claim is no longer valid. Meanwhile, Terra tokens LUNC and LUNA have seen new selling pressure. At press time, both tokens are down 7.61% and 6.42% respectively on a daily basis.
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