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In a groundbreaking development, Terra Classic (LUNC) has been integrated with Oxe, a non-custodial cryptocurrency wallet, enabling users to make payments using LUNC in 180 countries. This integration offers a significant boost to the Terra Classic community, as it provides on-chain utility and accelerates the burning tax mechanism. Let's dive into the details of this exciting development and explore how it benefits the Terra Classic community.
Global Reach: Payments in 180 Countries
Terra Classic users can now make payments using LUNC in 180 countries, thanks to the integration with Oxe. This integration allows users to access the Pisa card, which enables them to use LUNC for payments. As a result, Terra Classic has become a global payment solution, offering users the convenience of using their favorite cryptocurrency for everyday transactions.
Apple Pay, Samsung Pay, and Google Pay: Seamless Integration
The integration with Oxe also enables Terra Classic users to make payments using popular digital wallets such as Apple Pay, Samsung Pay, and Google Pay. This seamless integration makes it easier for users to spend their LUNC, as they can simply use their preferred digital wallet to complete transactions. This development is a significant milestone for the Terra Classic community, as it enhances the usability and adoption of the cryptocurrency.
On-Chain Utility: A Burning Tax Mechanism
One of the most exciting aspects of this development is the on-chain utility it provides. The integration with Oxe subjects transactions to a 1.2% burning tax, which means that a portion of the LUNC used in transactions is burned, reducing the overall supply of the cryptocurrency. This burning tax mechanism is designed to create deflationary pressure on the Terra Classic network, potentially increasing the value of LUNC over time.
Community Efforts: Rebuilding the Chain
Since gaining control of the chain in August, the Terra Classic community has been working tirelessly to rebuild the network. Their efforts have revolved around three main objectives: reducing the supply of LUNC, developing the chain to attract projects, and reclaiming the dollar peg against the classic USD or USDC. The integration with Oxe is a significant step towards achieving these objectives, as it enhances the usability of LUNC and accelerates the burning tax mechanism.
How to Use LUNC for Payments
To use LUNC for payments, users must first complete the Know Your Customer (KYC) process and deposit at least 20 LUNC into their Oxe wallet. Once the LUNC is deposited, users can then use it for payments via Apple Pay, Samsung Pay, and Google Pay. This process ensures that users are verified and that their LUNC is securely stored in their Oxe wallet.
Conclusion
The integration of Terra Classic with Oxe is a significant development for the cryptocurrency community. It offers global reach, seamless integration with popular digital wallets, and on-chain utility through the burning tax mechanism. As the Terra Classic community continues to rebuild the network, this integration is a step towards achieving their objectives and enhancing the usability and adoption of LUNC. Stay tuned for more updates on the Terra Classic ecosystem and how it is revolutionizing the world of cryptocurrency.
References
- Terra Classic Integration with Oxe
- Terra Classic Community Efforts
- Oxe Non-Custodial Cryptocurrency Wallet
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