Zaradar States When Terra Classic (LUNC) Will Reach $1

Zaradar States When Terra Classic (LUNC) Will Reach $1

Altcoins

According to Zaradar, the proposed ideas could potentially see LUNC attain $1 in two decades’ time.

Tobias “Zaradar” Andersen, a prominent Terra Classic community member and the L1 Team, recently outlined a few ways in which Terra Classic (LUNC) and Terra (LUNA) can coexist. Zaradar’s comments come barely three days after Jared, a Terraform Labs official, noted that both blockchains cannot merge on a protocol level.

In a recent tweet, Zaradar proposed for both assets to be leveraged for different purposes within the ecosystem due to their unique strengths and weaknesses. According to his proposal, both assets’ could be utilized for their strengths to complement each other.

Here is why I think LUNA + LUNC can co-exists:

– LUNC = high velocity M1 supply well suited for games (metaverses), M2M payments (IOT) and other supply chain / remittance scenarios.

– LUNA = store of wealth. Because LUNC with 5+ trillion supply lacks scarcity. 🤷‍♂️

NFA

— Tobias Andersen (@ZaradarBH) January 15, 2023

Regarding LUNC, Zaradar believes the asset could be leveraged in use cases that would involve frequent and rapid transactions. Some of these use cases include in-game currencies for Metaverse games and machine-to-machine (M2M) payments. He proposed the usage of LUNC for remittances between businesses and individuals.

Summarily, Zaradar would like to see LUNC leveraged in transactions that would need to be settled quickly and efficiently. This is due to the asset’s increased supply and highly liquid position.

LUNA Could Serve as a Store of Value

Secondly, when it comes to LUNA, Zaradar thinks the asset can function as a store of wealth for the proposed ecosystem due to its lower supply than LUNC. With a current circulating supply of 127 million tokens as of press time, LUNA has 0.002% of LUNC’s current circulating supply of 5.9 trillion tokens. Considering LUNC’s current supply, Zaradar does not believe the asset can serve as a store of value.

When asked if he has been in touch with Terraform Labs (TFL) regarding this proposal, he noted that he does not speak directly with TFL personnel, as demanded by his lawyers. Notwithstanding, he said others are known to communicate with the TFL staff.

LUNC to $1

Zaradar’s pessimistic view of LUNC’s claim as a store of value raised concerns among a few community members who asked him if he believes the community’s goal to take LUNC to $1 is unachievable. In response, Zaradar asserted that if his proposed measures are employed, the asset could be worth over $1 in 20 years’ time.

“I think LUNC will eventually be worth more then 1 USD. This is why I keep accumulating it personally…

If LUNC becomes integrated with M2M use cases then our current supply of 7 trillion would not be enough over a period of 20 – 40 years. So no, LUNC wont be worth 1 USD tomorrow, but if we can use it for the ideas we have in mind it might be worth more then 1 USD in 20+ years”

Some proponents believe the nature of the coexistence proposed by Zaradar is rather unclear, as was the case with the initial calls for a Merge. Jared had earlier clarified that both blockchains cannot merge at the code level, as that is impossible. However, he noted that if “the Merge” refers to cooperation between the teams behind both networks, that is feasible, as it’s already in the works.

Source

Leave a Reply

Your email address will not be published. Required fields are marked *