As the crypto market continues to build up its reputation on a global scale, with many countries working on or already establishing cryptocurrency regulations to accept these, it’s important to keep this momentum going forward. Web3 and everything related to it is here to stay, and even though the current markets have been in the bear territory for most of 2022, the crypto winter is slowly showing signs of resilience and thawing.
Working to build trust in DeFi again
Yet, with a completely new digital and global financial system being developed, it’s not without its issues. More recently, this year, a project with so much promise broke down and ultimately failed. With that said, we here at LuncGrow believe that the project was the next phase of crypto in general and still has promise even today.
Our mission at LuncGrow is to function as a hyper-deflationary token. We’ve released it on one of the most stable chains out there, the Binance Smart Chain Network, known for its security and reliability, as well as its low transaction fees and high transaction speeds. It has been built as a way to help the Luna Classic community with burning their tokens and reducing the inflationary properties that ultimately caused the bubble to burst at the start.
Burning LUNC helps reduce the supply. Reducing the supply of LUNC will then help to increase its value and overall utility, as there are fewer tokens possible on the market.
How it works with us
Our transaction fees for buying and selling are 10%. 3% of that will head back directly to holders of our token in the form of Luna classic. 1% of these fees will go straight to our liquidity pool. Another 1% will go directly to automatically burning our own token LGROW to help maintain its deflationary mission.
We reserve another 1% for our charity that goes straight to those in need. Our first one was held on September 9th, 2022, in Abuja, Nigeria, powered by the proceeds of our transactions.
We believe that multiple utilities for our overall ecosystem, as well as the passive income to our holders, help to differentiate our token and maintain the motivation to grow the community and preserve a previously fantastic project.
We have already burned 11% of our total supply while also burning 5 million Luna classic tokens. We are working on rewarding our users while constantly reducing the inflation of both tokens by burning LUNC and LGROW.
In addition, this will help to become a case study in that tokens and projects can be redeemed and enable users to have a way to recover a portion of their initial investments into the project.
Focus on security
While the functionality and mission are critical, we also ensure to take the right responsibilities with our product and, essentially, our code. We’ve passed all the relevant KYC requirements to handle an IDO, and at the same time, we’ve had our project fully audited and passed that audit, showcasing that everything is safe.
We also are utilizing our proceeds to help support those in the most need regarding financial literacy and basic human needs at the same time. It’s time to bring not just the digital revolution through this program but also, at the same time, one where we are able to remind ourselves that we all need to be in this together.
For those that are interested in finding out more about our product offering and being one of the first crypto-related projects that are meant to re-establish the credibility of one of the most promising projects in the whole ecosystem, you can head over here, where we are proud to offer more information on the matter.
We have three core phases that we are focused on, with the first phase nearing its completion. But, of course, you can already trade and purchase our deflationary token as well.