LUNC Burn Flip is a Decentralized Application that aims to gamify the burn of LUNC. It is a simple game where users place a double-or-nothing bet as a coin toss with LUNC on the Terra Blockchain and have 1:1 odds or 50% odds of success. Every time the game is played 2% of the LUNC is burned.
The game has programmed a 2% Burn fee from which the collected LUNC tokens are burned immediately. In the event that a player loses, their full bet size (less the burn fee) is deposited into the pool. If they win the fees are applied to the total amount that they receive.
Every time a player plays the game, a fraction of LUNC is burned forever — no matter the outcome. This decreases the market supply of the LUNC token and in principle, is a small step towards price appreciation.
The project does not rely on a single person and in doing so speaks to the ethos of a trustless system where a community determines the blockchain’s future.
Our vision is to play our part in contributing to the burn and also to spark a new influx of builders to come to the chain and not only bring the network back to its former glory but to surpass it!
