- A renowned LUNC community member has suggested that the Terra Luna Classic (LUNC) community consider reducing the current 21-day unstaking period to encourage broader adoption.
- To reduce supply and help USTC re-peg, LUNC continues its burn strategy, with Binance successfully removing 405 billion LUNC from circulation.
Terra Luna Classic has been recording noble losses in its market price over the past month. Particularly, LUNC has dropped by 4.50% and 17.93% in the past week and month, respectively. At the time of writing, LUNC is swapping hands with $0.00006132.
This sustained price drop coincides with a period when the LUNC community is actively considering a change to its staking model. A proposal was made live on the x platform by a renowned LUNC advocate, Crypto News Portal, suggesting that the current staking model may be limiting broader participation in the ecosystem.
When you stake $LUNC on the Terra Classic chain and then withdraw these #LUNCs from the stake transactions; a 21-day waiting period is applied.
There are currently 1 trillion LUNCs staked. Reducing the 21-day waiting period will increase the amount of LUNCs staked. This period… pic.twitter.com/uaZxIpHerO
— Crypto News Portal (@TerraNewsEN) March 13, 2025
As per the LUNC community member, the main focus of the discussion is to highlight the “lengthy” waiting period for users to withdraw their staked LUNC tokens.
Terra Luna Classic Staking Model
Currently, LUNC staking participants must wait up to 21 days before they can withdraw their LUNC tokens. This feature was in place early on in the Terra Luna Classic chain’s history, and Crypto News Portal pointed out that this extended period could discourage potential stakers. This has hindered overall adoption and participation in the Terra Luna Classic ecosystem.
Data has revealed that around 1 trillion tokens have been staked. This in contrast to the total 5.44 trillion LUNC in circulation.
This fraction showcases the hesitancy many holders may be grappling with to stake due to the rigid unstaking timeline.
Crypto News Portal has proposed reducing the 21-day waiting period to what it calls “reasonable levels.” However, the specific duration of the proposed adjustment remains undefined.
This suggestion has sparked discussion among community members with a majority in favor of the suggestion.
On the other hand, one notable stakeholder under vivid BNB, believes the already in place time frame is a necessary feature. He added that patience is a key virtue to the long-term stability and sustainability of the LUNC staking model and that shorter waiting periods may introduce risks such as increased market volatility and speculative activity.
Apart from staking reforms, the Terra Luna Classic ecosystem has been making headlines with its ongoing token burn efforts. Recent reports indicate that the community has successfully removed 405 billion LUNC from circulation.
Additionally, the algorithmic stablecoin TerraClassicUSD (USTC) is also experiencing a supply reduction of over 3 billion tokens.
The main goal of these burns is to decrease the circulating supply of LUNC and USTC, thereby increasing their scarcity and potentially driving up their value. One of the most significant contributions to the burn initiative has come from Binance, one of the world’s largest cryptocurrency exchanges, which has torched 400 billion LUNC.
The post LUNC News: Terra Luna Classic Community Proposes Major Change to Staking Rules appeared first on ETHNews.
