Terra Luna Classic Key Development Great Meeting / Lunc Coin News / Crypto News Today
1 year ago
Terra Classic
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The development of a decentralized exchange on the Terra Classic network is on the way, according to an update from independent development group TerraCVita in a tweet today.
"Dex is on track with all the other great projects," the group tweeted as part of a meeting update. "The pre-sale will take place in the next few weeks."
In particular, testimonies from TerraCVita indicate that the developers are confident that DEX will greatly increase the burning of excess Terra Luna Classic supply.
It is worth noting that in the wake of the Terra ecosystem collapse, which saw the overprinting of LUNC tokens, the community has united under a shared vision to reduce the 6.9 trillion supply to 10 billion. Data from TerRarity shows that the community has burned around 27.8 billion LUNC through various burning initiatives and with the support of different groups and exchanges like Binance.
The development comes days after The Crypto Basic announced the launch of a new NFT market on the network. In particular, the increasing number of projects being built on the chain indicates that the chain is reopening for business.
As previously reported by The Crypto Basic, the wording of the IBC proposal has raised concerns among some community members.
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