The essential gears for the revival of LUNC (Terra Luna Classic) are beginning to turn, and the price increases resulting from this are attracting attention from around the world.
LUNC is currently trending on Twitter, and the number of new holders entering the market is increasing at a tremendous rate.
However, there are many aspects of LUNC that are difficult for newcomers to understand, and we receive many questions and inquiries on a daily basis.
In this article, we will explain the most frequently asked questions by genre so that newcomers can quickly solve their problems.
Newly received questions will be added as needed, so please take a look.
【Collaborator】
Please follow us on Twitter to catch up on useful information.
@tamashi_papa
@bybenjamin81
@fickles_japan
@LUNADEATH5
About LUNC （Terra Luna Classic）
- Is the LUNC a Terra chain?
- The Terra Classic chain also refers to the blockchain on which LUNC transactions are recorded.
- What do you mean by on-chain and off-chain?
- On-chain refers to a system in which transactions, such as money transfers, are recorded on the blockchain in real time, mainly for wallet-to-wallet transfers.
Off-chain refers to a system in which transactions are mainly exchanges transactions, where transaction details are processed outside of the blockchain by the service provider and recorded on the blockchain once a certain amount of transaction data has been accumulated.
Tax Burn on-chain was implemented in an update at the end of August due to the passage of LUNC's improvement proposal.
How to purchase and send LUNC
- Is a "tag" always required to send LUNC?
- As far as we are aware, we have never required a tag when sending LUNC funds, but if the exchange specifies such a tag when sending funds, please follow the instructions.
If there are no instructions, it is not required.
If you are concerned, try a test transfer with the smallest amount that can be processed.
- I want to trade on the Coincheck board, where can I open it from?
- 【PC】 "Bitcoin Exchange" in the footer menu at the bottom of the page
【Smartphone】「Discover」→「FAQ/Inquiry」→「Bitcoin Exchange」in the footer menu at the bottom of the page. You can trade on the board at
- I have no experience with Crypto currency, how can I purchase LUNC?
- Please refer to the related articles below to make your purchase.
Total Supply and Circulating Supply of LUNC
- I am interested in the correlation between the price of LUNC and total supply and circulating supply, is there a website where I can see them?
- Total supply and circulating supply can be found at
LUNCPenguins
In the dashboard menu, "Total supply" shows "Total supply" and "Circulating supply" shows "Circulating supply.
In the 「Top burners」 section, you can check the "Burn status".
- Is the circulating supply the number of sheets reduced by Staking?
Or is it the number of pieces reduced by Burn? - Staking turns to non-circulating supply, and Burn reduces the amount of circulating supply.
The image is 「total supply - a circulation = circulating supply」.
There are several uncirculated pools (wallets) that do not appear in the market, and the circulating supply is the total supply minus the number of uncirculated pieces.
This sequence of events inevitably reduces the total supply as well.
- I checked the circulating supply of LUNCs on Coinmarketcap and it went from 6.9 trillion to 6.1 trillion, am I looking at this wrong?
- The staking has been modified so that the amount of staking is deducted from the 6.5 trillion circulating supply.
Regarding LUNC staking
- When I delegated additional work, I lost the staking rewards I had accumulated.
- It is automatically withdrawn and reflected in its own wallet.
- It would not be good if the supply was increased by staking rewards, but where is the currency for the rewards issued from?
- There is no new issuance, but an Residue pool (reward pool) exists to pay staking rewards.
Staking rewards are allocated from this Residue pool to your wallet.
- How are community pools pooled?
- The fee is made from 「Send」「Swap「Delegate」 and other fees.
- I have deactivated my staking with Terra station, am I correct in understanding that I cannot transfer it to my wallet for 21 days after deactivation?
Also, is it possible to redelegate the staking at that time? - It is possible to redelegate before the cancellation, but after the cancellation, it is locked (not free to do so) for 21 days.
- Where can I do staking?
- Staking is available at Terra Station, which is operated by Terra Classic.
Terra Station can be used via a smartphone app or a Google Chrome extension.
About LUNC's Burn
- What is LUNC's on-chain burn ?
- The system automatically burns taxes (gas fees) on money transfers via the Terra Classic chain.
Trading on exchanges is analogous to off-chain.
The burn is expected to increase prices as the supply of LUNCs decreases in the future.
- The TaxBurn will start soon.
(1)Tax only LUNC transactions?
(2)Tax on people who buy and sell? Or will the exchanges take the tax?
(3)Will the amount of the burn increase as the price per piece increases? - The respective answers are as follows
(1)Tax on LUNC and USTC transfers.
(2)Taxed on transfers via Terra Wallet, collected as a gas fee
(3)If the price per piece is larger, the amount of money to burn per piece will be similarly larger.
Not necessarily leading to an acceleration of the burn, but rather more likely to lead to a slowdown
- Is Tax also incurred and on-chain Burned when the staking is released?
- No, no tax is incurred on unstaking.
On-chain Burn is for wallet-to-wallet transfers.
LUNC's Future and Pricing
- Is USTC aiming to return to stabled coins next time?
- It is also clearly stated as a goal in the white paper (like a goal statement).
It is also on the agenda of the main member meeting "AMA".
- If someone with 10 million LUNC shares takes profit, will the market drop a lot?
- Market fluctuation is difficult to consider based on the assumption that if one person takes profit, the price will rise if there are people who want 20 million units even if one person takes profit of 10 million units.
However, we recommend that you put in your limit price in multiple steps for profit-taking, since price fluctuations will be large, such as a drop once when the price rises significantly in the future.
