LUNC · the chain mints nothing, but a reserve is quietly paying itself out.

Terra Classic mints nothing. The issuance module is switched off at every setting, and staking rewards are paid out of transaction fees and the tax split instead of out of new coins, so no LUNC was created in the window.

There is no vesting. Every LUNC in existence was issued before the May 2022 collapse, and the chain carries no lock contract, no cliff and no release calendar for anyone.

There is no foundation and no company — Terraform Labs was struck off in Jan 2026 and the chain is run by vote. One spend passed in the window, on Jul 1 2026, releasing 9.87M LUNC from the community pool to fund a cross-chain bridge deployment. The pool itself grew rather than shrank, from 8.05B to 8.75B, and a further 293.2M sits in a dormant wallet linked to the old estate.

The Terraform Labs wind-down trust pays its creditors in cash, not in LUNC. No court-ordered LUNC distribution has happened and none is scheduled.

This is the biggest flow on the page and it is easy to miss because supply never changes when it happens. A protocol reserve pays validators and their stakers a fixed slice of itself every day, and over 90 days it handed out 5.21B LUNC, falling from 43.69B to 38.49B. Those coins were sitting in a chain-owned account and are now in holders' hands. The payout is a percentage of what is left, so it shrinks as the pool does — 60.2M a day in May, 51.8M a day now.

There is no buyback. Terra Classic has no revenue stream and no treasury that buys its own coin; everything that removes LUNC does it by destroying the coin outright, which is rows 2 and 5.

Every on-chain LUNC transfer pays a tax and most of that tax is destroyed. A vote that took effect on Aug 2 2026 tripled the rate from 0.5% to 1.5%, of which 1.2% is burned and 0.3% goes to the community and oracle pools. The rate tripled but the burn only about doubled, from roughly 32M a day to 69.8M a day, because on-chain volume fell as the tax rose. 4.13B was destroyed over 90 days, small voluntary burns included.

No public evidence of release in window — monitored. There is no foundation, no company treasury and no entity with a mandate to buy LUNC on the open market.

Staking is not a lock in the way this row means. 908.5B LUNC is bonded to validators, but it unbonds in 21 days at the holder's choice and none of it was newly committed under any announced programme.

The largest exchange listing LUNC spends half the trading fees from its LUNC pairs buying the coin and destroying it, once a month. Three burns landed in the window — 2.19B on Jun 1 2026, 0.60B on Jul 1 2026 and 0.28B on Aug 1 2026 — and the trend is the story: the monthly amount has fallen to an eighth of where it was in ten weeks, because it tracks trading volume.