What Is Terra LUNA Classic (LUNC)?
The original name of Terra LUNA Classic is Terra (LUNA); the notorious project built on Cosmos that attempted to provide the ultimate algorithmic stablecoin UST (now USTC). After UST completely lost its peg in May 2022, the project was abandoned by developer team, but a group of Terra’s loyal supporters have picked up from there and continued the work.
How Terra LUNA Classic (LUNC) Works
LUNC remains the back-up token for USTC, meaning that an increase in LUNC value could eventually lead to the repeg of USTC. The latest move by Terra Rebels, people who are working for the revival of LUNC, is to introduce and pass the 1.2% tax burn proposal, which aims to effectively remove 1.2% of each LUNC transaction from the circulating supply. The tax is not imposed on swapping activities between USTC and LUNC. Several centralized exchanges (CEXs) have subsequently implemented the new mechanism.
How Many Terra LUNA Classic (LUNC) Tokens Are In Circulation?
Following the depegging event of USTC (back then UST) in May 2022, LUNC (formerly LUNA) was minted constantly to bring USTC value back to the US$1 mark. However, the plan got derailed when LUNC supply skyrocketed from 340 million to 6.2 trillion within a few days without USTC being saved. The current supply of Terra LUNA Classic stands at nearly 7 trillion tokens; and if a hypothetical 400 million LUNC is to be burned everyday, this mechanism would take almost seven years to get rid of the first 1 trillion LUNC tokens. More actions are therefore needed to speed up the process.
How to Buy Terra LUNA Classic (LUNC)
Consider investing in Terra Classic (LUNC)? It only takes 2 minutes to create an account on Bitget and start trading LUNC.
Check out the available LUNC trading pairs on Bitget!
Futures market
Spot market
LUNC on Bitget MegaSwap (ERC-20 BEP-20)
Related Pages
Simple 3-step guide to buying LUNC today in Canada
Create your free Bitget account
Select a funding method
Complete your Terra Classic purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Terra Classic using a payment method of your choice:
Buy Terra Classic with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Terra Classic order.
How to buy crypto with credit/debit cardBuy Terra Classic with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Terra Classic is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Terra Classic order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Terra Classic order.Buy Terra Classic with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Terra Classic order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Terra Classic in your Bitget spot wallet
Bitget—where the world trades Terra Classic
How to buy Terra Classic for free
- Learn how to earn Terra Classic for free through the Learn2Earn promotion
- Earn free Terra Classic by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Terra Classic airdrops by joining On-going challenges and promotions
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FAQ
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