Terra founder Do Kwon said it’s not a good idea to send LUNA tokens to the burn address. At the insistence of users, Kwon shared a burn address with them, but warned that destroying the tokens was pointless.
In early May, Luna’s circulating supply skyrocketed from 340 million to 6.5 trillion in just a few days. Despite massive supply increases, UST has not recovered due to low demand.
To clarify, as I’ve noted multiple times i dont think sending tokens to this address to burn tokens is a good idea – nothing happens except that you lose your tokens
Want there to be no confusion whatsoever https://t.co/GrzG9cclAr
— Do Kwon 🌕 (@stablekwon) May 23, 2022
Do Kwon expressed that burning was meaningless with these words:
“For the sake of clarity, as I have stated many times before, I do not think it is a good idea to send tokens to this address for burning. When you do this, nothing happens except you lose tokens. I want there to be no confusion.”
Kwon recently proposed to fork the chain to revive the ecosystem. However, changing the proposal in the middle of the vote caused some controversy.
