Current minting and burning of UST/LUNA

Stability
1

Can someone tell me if UST or LUNA is being minted or burned at the moment?

2

Not at all

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3

If I understand correctly Terra blockchain has 7,744,894 (terra.stake.id), and when 1 block is minted, then LUNA/UST is minted and given to the person mining the block. But how much LUNA/UST is created in each block and what other burn/mint operations are operating at this point?

4

Where can you see that no UST/LUNA is created? Is it really true that no one in the Terra Community that knows this?

5

Dear fellow community members,

Is there really no one is the Terra community that has an answer or any knowledge about how USTC, LUNAC is being minted and burned at the moment?

Thank You

1 Like
6

I would still greatly appreciate any member of the community helping out with this one.

7

May 17th is as far as records go for LUNC and USTC as far as I can tell. There are still 125 validators active on the classic network so theoretically transactions can still take place I think. There are still governance proposals still popping up on classic network (with some obvious scammers who used up their LUNC and USTC for scamming or to advertise LilDurks marijuana website I guess…) a validar or should be able to confirm the burn rate. But very few classic network transactions are occurring because LUNAC and USTC trading was paused on major exchanges and only a few have re-opened trading of LUNAC and USTC

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8

I am not sure the tools give exactly what you are asking for, but here are some tools:

  • https://lcd.terra.dev/swagger/

    • I believe these endpoints are still set for Terra classic (you may want to verify by checking your wallet, or checking a proposal)

  • https://lcd.terra.dev/cosmos/{major area}/v1beta1/{minor area}

    • This is for Terra Classic. You can see what endpoints are available by looking at the code here > click into the {major area} folder, and goto the file that starts out “query.proto” (and it will list each of the {minor area} calls with the necessary parameters needed, and a little description about what it does). Replace {major area} (ie. “bank”) and {minor area} (ie. “supply”) into the above url.

  • This tool may be helpful if you wanted to set it up locally (for classic chain):

These two queries may help with what you are wanting (classic chain):

I hope that helps out a little bit :slight_smile:

3 Likes
9

Thank you and blessings

1 Like
10

A total of 16.9m of ustc was destroyed in the last 24 hours

11

What is the reason for destruction?

12

USTC hodlers sold off their USTC, the network saw it was unstaked and burned it off.

13

buy 5 billion UST to burn at current price ~ $80 million, with LUNC capitalization it is too simple right now