There was a post by https://twitter.com/LUNCDAO he claims to be burning LUNC, but when I go to Terra Station it isn’t set to Classic. There is no way to switch off mainnet it is stuck there. LUNCDAO is scamming people into staking with him. Unless I am mistaken. I have no way to get to LUNA classic.
while there are lots of scams in crypto, those guys look more or less legit, at least the transactions they share are real.
and you can switch to classic network in terra station Switch networks — Terra Docs documentation.
you are right, they are a validator on the mainnet, because staking is disabled on classic.
i don’t know what is their offer / arrangement, do they buy back lunc from the market with staking rewards and burn it?
the burn transactions are real, that’s all i can say.
Oh you are right, staking is disabled on classic. Maybe I am just paranoid about it. Twitter is full of bots and scams, I guess I am a little jumpy. Sorry for the false reporting then. I didn’t think about the method buying LUNC with rewards and burning. That makes sense actually. Thank you for the correction.
They buy back LUNC through an exchange using their LUNA v2 commissions from Stakers.
The more stakers they have the more commision they make for burning. They do not use Stakers rewards.