The Cremation Coin project is a cryptocurrency operating on the Terra Classic blockchain network. With weekly burns, some of the LUNC tokens in circulation are permanently removed. With the last burning process, the total number of incineration of the project has reached 326 million LUNC. The project team aims to accelerate the incineration process by demanding greater adoption. Here are the details.
Cremation Coin removed 30.6 million LUNC from circulation as part of its weekly burns. Since pledging support for the burn campaign, Cremation Coin has consistently removed millions of LUNCs each week, converting 10% of its weekly volume into Terra Classic. Since the project started contributing to the campaign, a total of 326 million burns have been made.
The Cremation Coin team drew attention to the latest burn via their official Twitter account today, and they aim to speed up the burn process by requesting more adoption. stated. The burning took place today at 02:46 (UTC).
The previous burn of Cremation Coin contained 18.3 million LUNCs last week. With this last burning, the total number of burns of the project reached 326.6 million LUNC in three months. However, LUNCDash begins indexing its burns at a later date, citing the total number of burns as 314.4 million LUNC.
Despite this inconsistency, Cremation Coin has risen to seventh place on the burn contributors list, just 30 million coins away from overtaking leading validator Allnodes as the sixth largest burning project. Cremation Coin is also 109 million LUNC away from the LUNC DAO’s total burn count of 434 million.
This Week’s LUNC Burns
Cremation Coin’s 30.6 million burns represent 91% of this week’s total Terra Classic burns, currently 33.4 million LUNC. In addition to the Cremation Coin, LUNC DAO also contributed to the campaign on a weekly basis.
The LUNC DAO transaction took place at 01:31 (UTC) yesterday, removing 1.57 million coins from circulation. LUNC DAO has remained consistent in burning coins since the beginning of the burn initiative. LUNC DAO is persistently burning as many coins as possible to fulfill its commitment to support the Terra Classic revival campaign. This makes LUNCDAO one of the most active organizations burning LUNC. Despite the decrease in burn rate, the validator burns millions of coins from time to time.
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Source : the crypto basic