new moon earth news
Terra's governance system (LUNA) has approved the proposal to burn all TerraUSD (UST) tokens present in the project's community pool and UST deployed for previous liquidity incentives, on Ethereum (ETH).
These categories add up to more than 1.3 billion UST, or about 11% of the existing supply of 11.2 billion UST, according to data from CoinGecko.
The proposal received 99.3% of the votes in favour. After the vote, Terraform Labs, Terra's development team, will proceed to execute the burn.
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