The BlueZilla startup incubator has announced the launch of LUNCHBOX – a decentralized market prediction platform aimed entirely at giving users the chance to earn on predicting the number of $LUNC tokens burned each day, whilst burning $LUNC tokens. Amongst the wider efforts of the community and market, LUNCHBOX is shaping up to be a pretty interesting factor in $LUNC’s recovery.
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🧠LUNCHBOX empowers supporters like you! Win More, Burn More 🔥
☑️LUNCHBOX: https://t.co/wrazPNSi9D#LUNC #TokenBurn #PredictionMarkets$LUNC $LUNA #LUNCcommunity pic.twitter.com/UI2wo4Pi9E
— LunchBox.Live (@LunchboxLive) October 17, 2022
The Background
The Luna ecosystem suffered a catastrophic failure in July of 2022, sending the market reeling as a consequence. Efforts to revive the Luna ecosystem have persisted and resulted in the launch of Luna Classic in September, a hard fork of the Luna 2.0 network.
The latest iteration of the ecosystem sports a revamped economic model that has steered clear of the algorithmic stablecoin approach of the original Luna, allowing the new $LUNC token to reach a 90-day high of $0.0005888 on the 8th of September. The price has since leveled at around $0.0002918, and the new project is making traction with the support of Binance and Kaj Labs. The latter contributing a total of more than $450 million to supporting the burn of $LUNC tokens.
Now, Do Kwon, the founder of Luna, is facing a series of criminal charges for his negligence in the management of the ecosystem and attempts at flight. The South Korean Foreign Ministry has sanctioned Do Kwon and given him a deadline by October 19th to surrender his passport or face its cancellation. Do Kwon is considered a flight risk after investors of Luna clamored for compensation of their losses resulting from the crash of the ecosystem.
Saving $LUNA
The launch of LUNCHBOX is an effort by BlueZilla to support the burn of the immense six trillion total supply of LUNA tokens. The use of the Binance BNB blockchain network as the basis for the project serves as a cost-effective solution, allowing the exchange to directly burn all associated trading fees.
“We believe this platform will support the firm $LUNC burn believers by giving them the opportunity to take the ‘matter in their own hands’. Thus unifying $LUNC token burn efforts across communities,” a member of the BlueZilla incubator team commented on the launch of LUNCHBOX.
The principle behind LUNCHBOX is that it allows users to predict by betting an amount of $LUNC tokens to be burned, and predicting whether this value will be higher or lower than the volume burned the previous day. With its on-chain data monitoring system providing full transparency, LUNCHBOX rewards users for correct predictions by sharing in a prize pool among the winners. On each $LUNC market prediction there’s a 2% fee to support the referral program. There’s an additional fee applied to the $LUNC pool where 3% is the platform tax with 5% dedicated to burning.
How to Burn and Earn $LUNA
Accessing the website is easy, via the simple user interface. Users aiming to participate in the LUNCHBOX market prediction mechanism have to:
- Access the official LUNCHBOX website.
- Connect a wallet through WalletConnect, Coinbase, or Metamask
- Enter the value of $LUNC tokens they wish to contribute
- Receive payouts or burn lost $LUNC
As a community engagement project, LUNCHBOX is an excellent opportunity for users to engage in a fun and profitable activity, whilst actively contributing to the $LUNC burn. Godspeed LUNCHBOX!
