Terraport, the newly launched DeFi platform based on Terra Classic (LUNC) tokens, announced the completion of their first operational week. In addition to operational fees, a staggering 100 million LUNC tokens and over 100,000 TerraClassicUSD (USTC) tokens were burned on-chain to decentralize the platform further. During the first week, 4,079 TERRA, the project’s governance token were also burned. These weekly burns are expected to continue as the project’s adoption and volume increase.

The burns come in direct response to queries from the community and were pre-scheduled to occur seven days after the Terraport launch. The team is committed to pushing TERRA to $1 and increasing LUNC burns along the way. This version of the project features a decentralized exchange with swaps, staking and farming functionalities, while version 2 is expected to introduce a launchpade. Additionally, a portion of Terraport’s fees are directed towards supporting the building of new projects on the Terra Classic blockchain, thereby offering utility to the platform.

The team at TerraCVita expressed their satisfaction with the burns as well as their excitement for Terraport’s version 2 that could further revolutionize the industry. A bright future awaits Terraport and its supporters, with more substantial burns expected as the project continues to grow.



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