The campaign kicked off on April 10th, 2023, with the burning of one billion XLN in addition to revealing plans to burn 100% of the company’s XLN, which is nearly 90% of the total supply.
LunaOne, a leading Web3 project harnessing virtual technology to create a premier entertainment multiverse, is proud to announce its XLN Burn Campaign, incorporating a further deflationary mechanism that rewards holders and encourages long-term investment.
LunaOne seeks to leverage the burning of nearly 90% of the total XLN supply and the resulting scarcity to increase token value, making it more attractive to investors before the big launch. Burning tokens combats inflation and typically increases the value of token holdings—encouraging long-term investment and reducing short-term speculation or volatility.
To strengthen community engagement at significant milestones, LunaOne has scheduled multiple burns within Q2, including 750,000,000 XLN on April 26th, May 10th, May 24th, and June 7th. The final burn amount will be determined June 21st, 2023.
The final burn amount will be determined based on several factors including staked XLN, rewards for holders, contest payouts, promotions, and completing KYC for some XLN holders.
The XLN Burn Campaign will not impact any relaunch plans, but rather provide significant benefits for the LunaOne multiverse and its holders. XLN will then become a hyper-deflationary token utilizing a deflationary utilization system.
LunaOne is a hyper-realistic open-world concept with a focus on impactive gaming, education, work, and social life. The main mission of the LunaOne project is to lay the foundation for a global meta-infrastructure creating an enhanced ability to earn, study, play, and attend superior entertainment events—all powered by XLN.