Binance Made The Right Call
Fun and games on twitter today with #boycottbinance trending all because they wont play ball with the LUNC community. The LUNC fools are desperate for their no real use token to moon so they can all retire. When something has no value and you can buy millions for nothing what do you honestly expect.
This is a get rich quick scheme where the wheels have come off and their fake dreams look like they are now left lying in ruins. You have to be delusional to think a nothing token can gain support through burning alone. Burning has to be part of the equation and not the only part as you need a genuine use somewhere.
I have to agree with Binance on their decision as the chain needs to start their own burn first and not rely on the exchanges to make them wealthy. Binance hasn't said no and has put aside a set of stipulations that need to be met first.
- They will have an option button for anyone wanting to pay the 1.2% burn tax.
- 25% of all trading accounts holding LUNC on Binance have to opt in for the next stage to kick in.
- Once 50% is achieved then all trading LUNC will pay the 1.2% burn tax.
The best part is this is that Step 2 needs to be achieved within 30 days or else this is all off the table and goes back to normal. This is going to be tough to achieve and not an easy sell.
Obviously the LUNC community is not happy as they are not confident that they can pull this off. Maybe they are all talk and no action holding big bags hoping for others to do the burn for them as it sounds about right for this type of community.
We have seen how social media manipulation works with a few getting their followers to do certain actions whilst they don't do a thing and ultimately benefit. LUNC is a dead fish and the entire project stinks and the sooner it is dead and buried the better it is for Crypto. LUNC is bad news for Crypto as what Crypto offers is far more than this with projects that have genuine use cases. Clearing out the rubbish has to happen and losing this community who offer nothing is actually good news.
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What is LUNC, what real value does it have?
@tipu curate
Upvoted 👌 (Mana: 5/55) Liquid rewards.
Beats me as I don't see it. This is why they want the burn to happen so desperately as there is nothing else going for it.
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LOl I still had a bag of terra Luna, exchanged it against BNB. The more these get rick quick scams dissapear, the better it is.
This bear market is actually good, it's sanitizing the space.
Imagine putting all your eggs in the basket of a single CEX.
Yuck.
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Worse yet imagine your basket was Lunc.
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I have never heard of LUNC but I like what CZ did.
The crypto space has to be filtered off trash cryptos
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Ok done. Thanks for letting me know.
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Ι try to gambling the day LUNA chrushed. I "bet" 100euros which disappeared in a half hour! I was full awarded the risks! No if the most LUNC holders like me have a wet, sexy dream to earn back their lost assets or even more to have earnings is just their promblem! I will continue to use Binance for sure!
I now know why... but in 2021 when everyone was going ape over LUNA, I avoided it. I couldn't really put my finger on it at the time but just had a "check". In hindsight, I am glad I respected it...
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While I would love my LUNA to be worth something again, I think the ship has sailed on all of this. People who are still holding out hope they can get their money back need to focus that energy somewhere else. Either that or go back and read the first rule of crypto.
Definitely the right call as there are much better projects who have real use cases and will be successful without burning involved.
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Yeah, I mean it's still sad for the people that lost their money, but I don't see any benefit for Binance to go out on a limb like that.