Luna Classic is on the other side of the implementation of the code that will bring back that 1.2% burn tax ,staking and delegation and you will not believe the action we saw over the weekend. Guys, it is unquestionable that $LUNC luna classic is coming back from the dead with the help of the Terra rebels.
We have seen some massive progress and some massive moves in the right direction and I believe that we are just getting started, meaning that the price is going to skyrocket upwards as soon as we start burning again and also bringing down that circulating supply but guys, the first step to restore luna classic has been completed with staking transactions, and next up is 1.2% tax burn and we need as much support as possible throughout this entire process.
We’ll update you at any time as to what Binance is doing to help us, but again we need as much support from as many exchanges as possible and we also need to make sure that we are keeping the transaction volume up so again we are burning as much as possible but guys while we are on the topic of staking we have had a crazy crazy crazy weekend guys the luna classic community currently has 244 billion tokens and state that is 3.54in less than 24 hours.
Again these are harsh market conditions as Bitcoin did fall below $20,000K we are starting to see some great movement in the right direction. We need to remember that one of the only ways that you are going to be able to work with regards to governance, is by staking and one of the reasons that I was so stoked on staking and delegation coming back is specifically because you were not able to engage in any of this governance activity unless you had already been staked before the d-peg.
However, now it is being opened up to the entire community as long as you’re staking can do it but again we need to remember that we are going to start seeing certain validators to work a little bit more hard for us and we need to make sure that we are again paying them some massive respect.
Now guys, there were a handful of pretty much immediate the we saw some spreadsheets the people that did implement that code in order to bring on the 1.2 burn tax upgrading to version 22. We already have the Tera rebels working on version 23 and 24. So we’ll start seeing that last one that put us over was orion money because they do have that 9.43% of vote and of course again we need to make sure that we are supporting these validators like you stake with them to make sure that now stakingat least a little bit with as many as possible. Some of these are pretty small and they have some pretty nominal percentages some of them are massive and these are the whales but these are all validators that came forward and said you know what we aregoing to support the Terra classic community.
We are going to ensure that we’re doing everything. We possibly can bring this project back from the dead because we do believe in it and there fore we will continue to ensure that everybody is able to start working on that sort of governance as we continue to move forward.
Now, guys again, on the topic of Orion money, they will continue in maintaining the Orion validator on Terra classic for the foreseeable future. This is after the rumors and questions were swirling over the weekend as to whether or not they would be continuing to move in that direction. Again they are saying we are humbled by the support from the Luna Classic community and want to ensure Terra Classic is a safe and reliable network again. One of the best ways is to ensure that we have the validators doing as much as they possibly can.
Again guys, we are going to see more projects jump onto the Terra classic blockchain we are going to see a lot of movement in the right direction but we just need to make sure that we are supporting thepeople that are supporting us.