Yugocean
Valued Contributor
On May 21, Terra founder Do Kwon provided address for Terra community to send LUNA for burning and help in network relaunch; however, on May 23, Do Kwon changed his stand due to neglible effect and oppose by many HODLers.
The idea of burning LUNA was also thought to drop its circulation for possible price raise. Some people even argued others to buy huge quantities of LUNA in cheap and send for burning. However, most of LUNA HODLers noticed that burning their tokens will forfeit their eligibility for receiving LUNA 2.0 tokens whenever it is launched; so they decided to not to send their tokens on Do Kwon's address.
On May 23, Do Kwon tweeted and explained the same thing, he agreed that this is not a good idea and that people will only lose their tokens if they send for burning. However, Do Kwon did not deleted the burning address that was twitted by him.
The idea of burning LUNA was also thought to drop its circulation for possible price raise. Some people even argued others to buy huge quantities of LUNA in cheap and send for burning. However, most of LUNA HODLers noticed that burning their tokens will forfeit their eligibility for receiving LUNA 2.0 tokens whenever it is launched; so they decided to not to send their tokens on Do Kwon's address.
On May 23, Do Kwon tweeted and explained the same thing, he agreed that this is not a good idea and that people will only lose their tokens if they send for burning. However, Do Kwon did not deleted the burning address that was twitted by him.
