🎁 CryptoBox Giveaway Alert 🎁

Proposal 11832 to burn 800 million $USTC (TerraUSD Classic) tokens has been approved by the Terra Luna Classic community as per latest #cryptonews . This choice was made following a protracted and contentious discussion over the appropriate course of action for these tokens within the community.Tokens can be permanently removed from circulation by being sent to an uncontrollable address. This process is known as "burning tokens."The community has already decided to halt all USTC minting, with 59% in favour and about 40% against the change. The purpose of these operations is to reestablish a stable peg between USTC and the US dollar. USTC depegged from the dollar in May 2022, which caused the Terra protocol to crash catastrophically and the #crypto markets to experience a large decline.Traders have responded favourably to the proposal to burn 800 million USTC, as seen by the 1% increase in price of $LUNC (Terra Luna Classic's native token) over the last 24 hours.To properly achieve the USTC repeg to the U.S. dollar, however, the #cryptocurrency price may need to burn trillions of tokens as it is now #trading below the support level.