Matcha Exchange Releases Luna Coin Burning Plan

After the collapse of the Terra Empire, all circles in the currency circle are looking at how the issuer and community of Terra can save. The hard fork plan splits the original blockchain into a new blockchain. " Luna Fork: Is Terra Luna Hard Fork Coming? 』

The purpose of this forked Terra blockchain is to preserve the Terra ecosystem. As for UST, it will be directly eliminated.

And renamed the original blockchain LUNA to LUNA Classic.

Terra's approach has caused dissatisfaction among many LUNA holders. For many LUNA holders, Terra should recycle and burn the additional LUNA coins, which is the best way to save LUNA, but Terra only has two hands A stall said that there was no money to burn coins.

Terra’s move is quite damaging to the new forked Terra chain from the perspective of BTM City (Taiwan Bitcoin ATM) C editor. However, that is a problem that Terra needs to face.

It seems that the collapse of the Terra Empire may also hurt some centralized exchanges, so some centralized exchanges have more or less told Terra to adopt a currency burning plan and burn LUNA to save the country while waiting for Terra to come up with a rescue solution. LUNA’s currency price, but Terra was reluctant to take this action.

After seeing that Terra was determined to carry out a hard fork plan, the well-known Matcha Exchange in Singapore decided to carry out the LUNA coin burning plan. " Matcha Release Luna Coin Burning Plan: To realize the "centralized exchange" tax repurchase! The community knocks on the bowl of CZ and asks Binance to follow up ”

The Matcha Exchange conducted a vote on the 22nd: expressing its willingness to provide a special recovery plan for the LUNA community. All current MEXC users are eligible to vote. If the voting rate reaches 50%, MEXC will use the actual transaction fee of the LUNA/USDT spot trading pair to repurchase the secondary market and burn LUNA.

If Matcha voted in favor of the majority, it would indeed be of great help to LUNA’s currency price resilience, and it would even have the opportunity to attract others, causing other exchanges to also carry out LUNA coin burning plans.

BTM City (Taiwan Bitcoin ATM) C editor is optimistic about its success.

BTM City (Taiwan Bitcoin ATM) C editor believes that if the LUNA coin burning plan can be carried out smoothly, there will be a chance to drive the currency circle out of the bear market quickly, because the relatively high funds in the currency circle are stuck on LUNA, if there is a problem with LUNA If it is not resolved, the currency circle will bear for a long time.

Of course, the editor of BTM City (Taiwan Bitcoin ATM) C also suggests that everyone should buy more bitcoins while the bitcoins are relatively cheap while the currency circle is still bearish.

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