This campaign from MEXC is a real campaign from them, a few days ago they announced it on their announcement page. You can visit the
following link to see this announcement information from them.
My question is, can MEXC's plan really make Terra (LUNA) recover? MEXC is a medium exchange so with their medium trading volume, they can not help. Trading volume in Luna Classic on MEXC is not high so I appreciate their support and initiative for Luna (old) community but if only MEXC exchange has buy back and burn, it won't help Luna Classic to recover.
To recover from the hell, Luna Classic must get more support from exchanges but will exchanges do it?
this honestly isn't a recovery plan instead it's just a ordinary giveaway, $5000 is a really small fraction compared to what all of those victims of luna has lost.
even $5000 was distributed among many people, if mexc really have partnership with LUNA in this giveaway then I could say that maybe LUNA has finally run out of their reserve in holding back UST and LUNA
because honestly $5000 shouldn't be called a recovery plan because it's not gonna recover anything.
Things will be good only if Terra successfully to rebuild Luna (new) and their team announce and actually use income from new Terra operations to buy back and burn Luna Classic.
It would be done by Terra team as biggest contributor to buy back and burn. Exchanges, validators can help but Terra team should be a leader in this campaign.
There is LUNC DAO has buy back and burn from staking reward of their validator but I don't know how long they (and MEXC) will do it?
https://twitter.com/LUNCDAO