https://terrarity.io/analytics/lunc-burnerCheck out these burning statistics. If they burn 59 billion coins in 5 years, then staking new coins will generate 10 times more coins. This is a pointless operation, and constant incineration commissions will not allow new projects to develop in this ecosystem. I see a dead end.
Isn't it already dead end for LUNC and LUNA?
It's not dead yet. LUNC was still being pumped by the whales caused by the burn. I saw that this is the only thing that gives hope for all of them. LUNC was doing burn mechanism but it's also doing staking reward that will be giving more tokens to the stakers.
There are trillions of tokens in the market. I saw that even people hyped the coin caused by only 300 millions burn LUNC in a day which is very small.