Amidst the challenges faced, the crucial question of how to burn more and more LUNC emerges as a pressing need in the ecosystem. Beyond being a marketing exercise, token burning has become imperative due to hyperinflation that previously threatened to extinguish the project.
The introduction of Burn Tax was an initial approach to burn a portion of fees, directing them to the burn address. Although it was an effective strategy in attempting to deflate the currency (and funding the chain), it became clear that it was not sufficient. The subsequent attempt to incorporate off-chain burns involved major players like Binance, Mexc, and Coiniin, but even so, the goal has not been fully achieved.
Given this reality, the proposal to burn with the REPEG arises, highlighting the initiative to open the Market Module. Although promising, this process will require careful execution, demanding time for its completion. We can also burn by using utility (such as Dapps) that use fees on the Main Net.
In response to the question of how to burn LUNC, it is evident that there is no single answer; it is a set of strategies. This includes direct burning, utility, and the opening of the Market Module, among others.
In terms of utility, I highlight a project that redefines the concept: TRIT, a CW20 that will power a massive online game-fi (MMO) called Terra Tritium. The project initially aimed to increase the burning of LUNC, but over time, its potential in various sectors was realized. TRIT will be the foundation for an MMO with TRIT mining (and other currencies in the future), introducing the concepts of “solo mining” and “mining pools” through alliances in the game, along with NFTs in the game.
Regarding the tokenomics of TRIT, 85% of the supply used in the game will be burned, and with a total supply of 495 million, it has great potential. With features like staking and an internal market, this game covers all angles.
The challenge of listing on various exchanges revealed obstacles related to fees in LUNC or USTC, leading to the creation of a token on the BNB Chain, later wrapped into TRIT.
This solution not only benefited the project but also became a useful mechanism for others in the network, allowing the exchange between tokens and wrapped tokens with a portion of the fees allocated to burning and part to the oracle pool.
The portal created by Terra Tritium not only offers significant utility to the LUNC Chain but also opens doors to the integration of other native currencies and CW20 on the network. Discussions are ongoing with major chains to persuade them to adopt their wrapped versions on the LUNC Chain, generating revenues in fees that, in turn, will contribute to the burning and strengthening of the oracle pool. This portal is undoubtedly a transformative innovation and a significant contribution to the ecosystem of the LUNC Chain.
this tool can be found here : https://bridge.terratritium.com
the project here : https://www.terratritium.com/
