The Terra Classic (LUNC) currency is trying to regain its status through a strategy primarily based on the community and reducing supply, with these efforts focused on the following axes:
Token Burning: This is the most important tool to reduce the massive supply that exceeds 6 trillion units. The Binance platform significantly supports these efforts through periodic burning of trading fees, with more than 436 billion tokens burned so far.
Technical updates: The community is focusing on network upgrades (such as v3.6.0) to enhance security and compatibility with the "Cosmos" ecosystem, facilitating the return of developers and building new decentralized applications (dApps) that benefit the network.
Stablecoin (USTC) Re-peg: There are ongoing proposals to attempt to re-peg the stablecoin (USTC) to the dollar, which is vital for restoring the original ecosystem, even though it remains a complex and technically challenging process.
Community governance: After Terraform Labs abandoned the project, the community has become the primary driver through voting on development proposals, distributing fees, and incentivizing staking to reduce the amounts available for trading.
