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.
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.
23141
