EverGrow burning tokens 4x faster than Luna Classic (LUNC)

The results are in: Luna Classic burned just 9.2 billion tokens in November.

It's less than half the tokens burned in October. Burning Luna Classic (LUNC) is one of the most popular methods to raise the price of LUNC long term.

But it's looking like LUNC hodlers might have to find a different path to the fabled $1 price.

Meanwhile, hyper-deflationary token EverGrow is quickly taking the #1 token-burning title.

EverGrow burns 4x more tokens than LUNC 

Back in May this year, there were 350 million Terra Luna tokens in circulation and a price over $80 each.

Then the Terra network collapsed. The first symptom was a hyperinflation of the Luna supply until there were 6.8 trillion tokens worth $0.00005 each. Those who did not sell in time chose burning Luna Classic as the answer to recovering their losses.

In September, the LUNC community voted in a 1.2% burn tax. Binance agreed to implement it. And the price of LUNC pumped 500% to $0.0005. 

Then the LUNC community voted to slash the tax down to 0.2%. 

Here's how much LUNC burned in November compared to EverGrow (burns as % of circulating supply).

• EverGrow burn in November: 0.6% of circulating supply
• LUNC burn in November: 0.15% of circulating supply

If you're among the thousands of LUNC supporters left disappointed by the burn tax reduction, EverGrow is proving to be a popular alternative. 

You can read about or buy EverGrow here.

Why is burning a big deal?

LUNC has a tough task ahead if it's to hit the $0.1 or $1 price investors dream of.

Currently, the circulating supply is 5.98 trillion. For LUNC to be worth $1 its market cap needs to grow from a current $1 billion to $5.98 trillion. That's more than five times bigger than the whole cryptocurrency market at present.

Not even Bitcoin has held a market cap above $1 trillion for a significant period. So for a fallen token like LUNC, it's a long way away.

Now imagine the LUNC supply was reduced by 95%. LUNC would need a market cap of $300 billion to be worth $1. Or $30 billion to be worth $0.1. It's an exciting prospect that would see ROI at least as high as 50,000% on any purchase today.

The only problem is this – at the current low rate, a 95% reduction in supply is over 100 years away.

EverGrow meanwhile is burning so fast it could hit $0.1 from a current $0.0000001 in the next 20 years. That's an ROI in the millions of percent.

How does EverGrow burn so many tokens?

EverGrow charges a transaction tax of 14%, which is split as follows:

• 8% converted into BUSD and distributed among all wallets ($38+ million paid to date)
• 2% to burn tokens (507 trillion burned at genesis and 28 trillion burned in last 12 months, or 6% of circulating supply)
• 2% for ecosystem development (NFT marketplace launched)
• 2% to fund liquidity (you can only buy EverGrow on PancakeSwap using BNB or BUSD)

The tax might seem a lot, but EverGrow incentivises investment by passing stablecoin passive income. It's also set up an innovative way to keep on burning tokens.

EverGrow launched an NFT marketplace in September called LunaSky. It's the first marketplace in crypto to send 100% revenue towards buying and burning a native token – in this case, EverGrow.

In November, EverGrow started burning tokens with LunaSky revenue: around $12,500 per day has been buying and burning EverGrow. The EverGrow price has risen 43%.

For investors seeking a slice of cutting-edge DeFi mechanisms and an ecosystem that rewards its holders as much as possible, EverGrow is a powerful alternative to LUNC.

If you'd like a stake in the future of DeFi, buy EverGrow today.