Terra Luna Classic and Terra Luna 2.0

[tbct_mt2]

Terra just have its version 2, Luna and the old Luna will become Luna Classic.

With the new chain, no UST.
With the old chain, UST is still there.

No buy back and burn for UST. Terra stop over minting new Luna Classic but without buy back and burn, price will not be able to recover.

LUNA 2.0 is a shitshow in my opinion.

MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.

Do you think Binance will do that?

[albon]

Terra just have its version 2, Luna and the old Luna will become Luna Classic.

With the new chain, no UST.
With the old chain, UST is still there.

No buy back and burn for UST. Terra stop over minting new Luna Classic but without buy back and burn, price will not be able to recover.

LUNA 2.0 is a shitshow in my opinion.

MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.

Do you think Binance will do that?

Where is the link to the source of this announcement?

What I saw is that the MEXC platform is only buying back and burning its own currency "MX"  For the Luna Classic, the MEXC platform was one of the first platforms that supported Luna Classic and listed it, but if the ANN that you mentioned is correct, this will undoubtedly help the Luna Classic holders to compensate some losses, although the MEXC platform has no fault in that.

As for the Binance team, they will list Terra 2.0 on 2022-05-31 06:00 (UTC) and they will distribute the airdrops according to the plan of the Luna founder, but I don't think they will ever buy back or burn Luna Classic if other platforms do.

[BIT-BENDER]

Luna 2.0 is another way Terra are trying to salvage Luna, would this be possible? Well in my own opinion it would be temporary, I say this because, Luna may never attain it’s all time high again or even come close, right now many investors are hoping that the Luna 2.0 at least do okay so when they get they can sell off and cut their losses even it it’s the very least. If this actions are carried out it would cause a huge dump to the Terra Luna 2.0, Luna has lost investor’s confidence and only few are willing to hang on.

[MakiHasegawa]

Terra just have its version 2, Luna and the old Luna will become Luna Classic.

With the new chain, no UST.
With the old chain, UST is still there.

No buy back and burn for UST. Terra stop over minting new Luna Classic but without buy back and burn, price will not be able to recover.

LUNA 2.0 is a shitshow in my opinion.

MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.

Do you think Binance will do that?

Not sure but probably they will also do that, from my opinion cz was big supporter of them but personally i don't really trust luna 2.0 so yeah if possible just stay away or just trade it for quick bucks. After reading DK responding to this tweet https://twitter.com/FreddieRaynolds/status/1463960623402913797 i really lost respect to him where he didn't hear opinion and criticism from his community

[yhiaali3]

It is possible that Binance will do this for the sole reason of trying to recover a little of their losses that they lost as a result of the collapse of the old Luna, so I think that most of the exchanges support Luna 2 to recover their losses, but since the first day it seems that Luna 2 will not work, its price dropped a lot and the same thing happened With Luna Classic too, unfortunately users keep losing and this leads to further loss of confidence in Luna 2 and Classic versions alike. I don't think the dead come back to life.

[Tytanowy Janusz]

MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.

Do you think Binance will do that?

So they will use profits from "dead shitcoin trading volume" to invest in dead shitcoin to please dead shitcoin ponzi shame investors that lost money due to underestimating risks of holding ponzi shitcoin to lock it with ponzi stable coin for 20% annually? I hope that binance wont do that.

LUNA 2.0 is a shitshow in my opinion.

+1

[Coyster]

I am afraid all of these will yield nothing, Luna is just one of those classic pump and dump coins, and quite a lot of such coins have come and gone down the years, and that is exactly what is happening to Luna right now, the efforts at recovery is seen, but sorry it will end up being futile, and sooner or later Luna will be forgotten. The funny part of all of these is that another similar coin is going to spring up yet again, pretty soon, investors and novices as well will buy and cause hype, then the coin crashes again, and people lose so much money to it, rinse and repeat, investors do not just learn, they want to make quick money, forgetting they can't be lucky all the time.

[zasad@]

https://twitter.com/FatManTerra/status/1530595495961321472
It is very sad that we will learn about all the scams later.

The first distribution of tokens has passed, then there will be no distribution for 6 months, and then vesting will begin for 24 months. Perhaps at this moment there will be interesting speculation and you will be able to sell the coin more expensive.

[GreatArkansas]

(.....)
MEXC exchange already officially announce and do buy back and burn daily from Luna Classic trading fee on their exchange. Will Binance do the same for their users, for their community with many members, users lose money in Luna Classic.

Do you think Binance will do that?

Lune 2.0 after its launch, the loss of its price is already negative. I am not sure if they started this 2.0 at the wrong timing especially in the current market condition and after the tragedy on Luna.
For me, the trust of the people is already broken for Luna, even how the team is explaining to people, the amount lost on the Luna - UST is really huge. They can fix the issue or problem with Luna, but the trust seems impossible.

[makishart]

Binance will never do the same thing like MXC. MXC was stupid enough to burn its income from the trading fees to burn luna classic which will never work. This exchange site didn't even aware what they have been doing. It was getting triggered by someone who asked about the burning address and stupid people are following it as a campaign by the developers to burn terra luna but the fact they were burning their own coin. I never saw the most stupid community like that. So many awareness didn't enough to make them realize about the fact

[tbct_mt2]

Where is the link to the source of this announcement?

Source is from https://twitter.com/MEXC_Global/status/1529478233582088193

What I saw is that the MEXC platform is only buying back and burning its own currency "MX"  For the Luna Classic, the MEXC platform was one of the first platforms that supported Luna Classic and listed it, but if the ANN that you mentioned is correct, this will undoubtedly help the Luna Classic holders to compensate some losses, although the MEXC platform has no fault in that.

I don't know the effects MEXC can create for LUNA community (now Luna Classic community) because the big drawback is trading volume on MEXC is not too high. They are not Tier 1 exchange. However I expect to see more support from other exchanges, especially Tier 1 exchanges. If they step in with such similar support like MEXC, it will be massive for LUNA Classic communities.

Lune 2.0 after its launch, the loss of its price is already negative. I am not sure if they started this 2.0 at the wrong timing especially in the current market condition and after the tragedy on Luna.
For me, the trust of the people is already broken for Luna, even how the team is explaining to people, the amount lost on the Luna - UST is really huge. They can fix the issue or problem with Luna, but the trust seems impossible.

Maybe the Terra team and Do Kwon wanted to launch Terra 2.0 as soon as possible in order to reduce their legal issues potentially. Not sure they will succeed with the intention or not but in reality investors who got painful loss after the attack are still very disappointed with airdrop and Terra 2.0. No matter what price they entered from $60 to $1 and lower, they got same rate in the airdrop for Post-attack LUNA (old) so that is crazy airdrop.

From this, we can see the purpose is not to heal the painful loss for investors, small investors in particular.

[tbct_mt2]

There are validator and DEX burn Luna Classic

LUNC DAO burn LUNC from their earning in LUNA staking. They burn LUNC daily and the number of LUNC burned depends on how much earning they get from their LUNA staking pool.
https://twitter.com/LUNCDAO/status/1531396601192792065

Burning DEX
https://twitter.com/burning_DEX/status/1532412626008932353
https://medium.com/@BURNING_DEX/introducing-a-dex-for-the-people-d1a2b05b29eb

It is good move from community and if it expands more, LUNC will get good support and their total supply will reduce. It is worth to note I don't promote the validator or the DEX, use their service with risk.

[whiteblue]

It is good move from community and if it expands more, LUNC will get good support and their total supply will reduce. It is worth to note I don't promote the validator or the DEX, use their service with risk.

We need more support for LUNC burning, otherwise one platform won't have any impact on efforts to increase Luna burning. I'm sure about Do Kwon don't care at all about coin burning suggestions from the community.

[Beparanf]

It is good move from community and if it expands more, LUNC will get good support and their total supply will reduce. It is worth to note I don't promote the validator or the DEX, use their service with risk.

We need more support for LUNC burning, otherwise one platform won't have any impact on efforts to increase Luna burning. I'm sure about Do Kwon don't care at all about coin burning suggestions from the community.

Don't waste your time and money on burning Lunc because that project is already abandoned. Most of the developers already migrate to the new version and only one left are the personnel of Do Kwon that leave to still process transaction. There's no point of saving it since everyone already received airdrop while the people who bought the dip just left behind.

Those people that insisting token burn usually those bought Lunc at 0.0000x price. You can't encourage everyone to follow because no one is buying anymore.

[RealMalatesta]

There are validator and DEX burn Luna Classic

LUNC DAO burn LUNC from their earning in LUNA staking. They burn LUNC daily and the number of LUNC burned depends on how much earning they get from their LUNA staking pool.
https://twitter.com/LUNCDAO/status/1531396601192792065

Burning DEX
https://twitter.com/burning_DEX/status/1532412626008932353
https://medium.com/@BURNING_DEX/introducing-a-dex-for-the-people-d1a2b05b29eb

It is good move from community and if it expands more, LUNC will get good support and their total supply will reduce. It is worth to note I don't promote the validator or the DEX, use their service with risk.

I do not think that trying to return something back to life when even the project creators agree that it is gone, would be a good idea. Luna classic nor luna 2.0 or UST or anything that was created based on this ecosystem will recover, you could burn it all and have just 1 left and it would still not be worth anything. Just accept the fact that it is gone and it will never be recovered and we will go a lot better and further along the way.

I believe that investing even 10 bucks on something like this makes no sense to me at all. It would make sense if there was a true team behind it, or it was decentralized, but with the way it is right now? I have no hope.

[Cadaver20]

With the introduction of Terra Luna version 2, the possibility of LUNC recovering is over. I don't think Binance will pursue a buy back and burn policy like the MEXC exchange. Because there is no liability to Binance. It should be done officially.

[0verseer]

With the introduction of Terra Luna version 2, the possibility of LUNC recovering is over. I don't think Binance will pursue a buy back and burn policy like the MEXC exchange. Because there is no liability to Binance. It should be done officially.

Nah, check the LUNA2 chart mate. Massive sellout from LUNA2. The new coin is going nowhere and will be dead while LUNC still has the possibility of recovering because the community loves any burning movement. DEX exchange, MEXC exchange want to use this 'burning movement' chance to promote their site, advertisement scheme. But this will benefit LUNC as anyone can also use it to gain the community's attention and shares of the market. If Binance wants to upper its standing among the crypto community and good public press, they will follow suit too. A win-win situation for LUNC holders.