What caused the Terra/LUNA collapse?

UST's peg relied on LUNA being minted/burned to maintain balance. When UST faced a bank run, the system printed trillions of LUNA, hyperinflating supply and crashing both tokens to near zero.

Can I swap LUNC without KYC?

Yes. SyntheticSwap supports LUNC swaps with no registration or identity verification.

Is LUNC the same as LUNA?

No. LUNC (Luna Classic) is the original LUNA token on the original Terra blockchain, now called Terra Classic. LUNA is the new token on Terra 2.0, a completely separate blockchain.

What is the LUNC supply?

During the UST collapse, LUNA supply inflated to over 6 trillion tokens. The burn mechanism has reduced this over time, but supply remains in the hundreds of billions.

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Terra Classic

Q: What is the LUNC burn tax?

The LUNC community implemented a 1.2% burn tax on all on-chain LUNC transactions to reduce the hyperinflated supply. Each transaction permanently destroys 1.2% of the LUNC transferred.

The Original Terra Blockchain Token After the UST Collapse

Launch Year

2019

Consensus

Delegated Proof of Stake

Max Supply

Uncapped (originally, now with burn tax)

Block Time

~6 seconds

LUNC

Terra Classic

Price—

24h Change—

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Terra Classic Price Chart

LUNC / USD

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About Terra Classic

Terra Classic (LUNC) is the original LUNA token from the first Terra blockchain, which suffered a catastrophic collapse in May 2022 when its algorithmic stablecoin UST lost its peg. After Terra's founders launched Terra 2.0 (with new LUNA), the original blockchain was renamed Terra Classic and the token renamed LUNC. Despite the collapse, LUNC retained a large community determined to restore value through mechanisms like a 1.2% burn tax on transactions to reduce the hyperinflated supply (which expanded to trillions during the de-pegging). LUNC remains actively traded and has periodic community-driven rallies.

History

2019

Terra blockchain launches by Do Kwon and Terraform Labs; LUNA token begins as staking and governance token.

2021

Terra/LUNA reaches top-10 by market cap; UST becomes one of the largest algorithmic stablecoins.

2022

UST loses its peg in May 2022; LUNA hyperinflates to trillions in supply; $40B in value destroyed.

2022

Terra community forks to create Terra 2.0; original chain renamed Terra Classic, LUNA renamed LUNC.

2023

LUNC community passes burn tax proposal; 1.2% of LUNC transactions burned to reduce supply.

2024

LUNC continues trading with active community; periodic rallies on burn milestone announcements.

How to Swap LUNC

Exchanging Terra Classic (LUNC) on SyntheticSwap requires no account creation or identity documents. Open SyntheticSwap, choose LUNC as your source or target coin, provide your destination wallet address, and review the floating rate displayed. After sending LUNC from your personal wallet to the deposit address, the swap processes automatically and your chosen asset is delivered directly to your wallet. SyntheticSwap never holds your funds at any point during the process.

How to Store LUNC

LUNC is stored in Terra Station wallet (available as browser extension and mobile app). Keplr wallet also supports LUNC on the Terra Classic chain. Ledger hardware wallets support LUNC via Terra Station integration.