BlueZilla, an incubator focusing on early-stage blockchain projects, has announced the launch of LUNCHBOX. The recently launched project powered by BlueZilla is a decentralized platform that gives users the ability to support the $LUNC token burn campaign, by predicting whether the volume of the $LUNC tokens burned will be higher or lower than the previous day.
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☑️LUNCHBOX: https://t.co/wrazPNSi9D#LUNC #TokenBurn #PredictionMarkets$LUNC $LUNA #LUNCcommunity pic.twitter.com/UI2wo4Pi9E
— LunchBox.Live (@LunchboxLive) October 17, 2022
Trailing Luna
The launch of LUNCHBOX comes after the recent debacle of Luna Classic – the initial iteration of LUNA, which has been making a comeback since the unimaginable crash earlier this year. LUNC reached a 90-day high of $0.0005888 on 8 September and trading at $0.0002918 as of 7th of October. The asset has undergone significant protocol shifts, including the introduction of new burn mechanics in an effort by LUNA founder Do Kwon to resurrect the project through a hard fork of the Luna 2.0 network and the abandonment of the algorithmic price stabilization framework for the stablecoin.
Do Kwon himself has been sanctioned for his actions with LUNA and has been facing criminal charges, with the South Korean government ordering him to surrender his passport by October 19th, or have it annulled. Efforts to revive the Luna ecosystem are thus being made through the burning of the $LUNC token. So far, among the top supporters of this initiative is Binance with regular token burns and Kaj Labs which has committed $450 million to the effort.
BlueZilla Saves the Day
LUNCHBOX now emerges as a product powered by the BlueZilla startup incubator, which has provided both advisory guidance and technical support to the project, supporting the $LUNC burn. The project has been launched on the BNB blockchain – one of the most cost-effective networks on the market, making it accessible, versatile, and transparent.
“We believe this platform will support the firm $LUNC burn believers by giving them the opportunity to take the ‘matter in their own hands’. Thus unifying $LUNC token burn efforts across communities,” as stated by a member of the BlueZilla team regarding the launch.
The mechanics for users are straightforward, as anyone can predict whether the $LUNC token burn will be higher or lower than that on the previous day in exchange for rewards. The on-chain data reporting mechanism ensures full transparency of the process. Should more than one user manage to predict the correct amount of the token burn, the winners will split the pool prize.
LUNCHBOX Welcomes All
The platform is extremely easy to use and to further encourage user participation to support the $LUNC burning there’ a referral program. This is funded from the 2% tax levied on each $LUNC prediction. There’s an additional fee applied to the $LUNC pool where 3% is for the platform tax with 5% dedicated to burning. All willing to participate in the burn effort should:
- Visit the official LUNCHBOX website;
- Connect their WalletConnect, Coinbase, or Metamask wallet
- Contribute to the burn;
- Start earning by selecting the supposed amount of $LUNC to be burned.
With a circulating supply of more than six trillion LUNC, the project actively contributes to the deflation of the ecosystem. The launch of LUNCHBOX will contribute to garnering support for the project and engaging users in shaping the future of the beleaguered Luna ecosystem – Surely a great sign for the $LUNC’s future.
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