Terra Classic

LUNC is the token of Terra Classic, the original Terra blockchain kept running by its community after the 2022 collapse.

Terra was a blockchain built around the TerraUSD (UST) stablecoin, with Luna as its reserve and staking token. In May 2022 UST lost its peg and the system collapsed, wiping out an estimated $40 billion. A new chain took the Luna name, and the original chain continued as Terra Classic, with its token renamed LUNC.

Terra Classic is now run by a community of validators without Terraform Labs, the original company. Co-founder Do Kwon pleaded guilty to fraud and was sentenced to 15 years in prison in December 2025. Volunteers maintain the node software; they released a mandatory fix for a critical smart-contract vulnerability on 14 September 2026.

LUNC pays network fees and secures the chain through delegated proof of stake: holders delegate to validators and share rewards, and validators can be penalised for double-signing or downtime. No new LUNC is minted. A 1.5% on-chain burn tax and exchange burn campaigns slowly reduce a very large supply of about 6.45 trillion LUNC.