Terra Classic (LUNC) Price



Before trading any crypto asset, it is important to understand the risks. This overview summarizes certain risks associated with this asset. No securities regulatory authority has issued an opinion regarding this asset, including an opinion that it is not itself a security and/or derivative.

Investors in Canada are reminded that no securities regulatory authority or regulator in Canada has assessed or endorsed any Crypto Contract or Crypto Asset made available through the Uphold Platform.

Token Description & Project Background

Terra Luna Classic, is not to be confused with Terra Luna 2.0, a new chain introduced after the original projects demise in May 2022. Following the launch of Luna 2.0, the native token of the network inherited the LUNA name while the old blockchains token was rebranded to Luna Classic LUNC. 

During the late summer and fall of 2022, LUNC gained attention and speculative interest due to the implementation of Proposal #3568, a burn policy resulting in a 1.2% burn tax on all on-chain UST and LUNC transactions. This measure aimed to transform LUNC from an inflationary to a deflationary token. The burn policy aimed to reduce the total supply from nearly 7 trillion to 10 billion. 

LUNC was designed to absorb the price deviations of the algorithmic Terra stablecoin pegged to the US dollar by minting and burning tokens to balance supply and demand, LUNC faced challenges in May 2022 when TerraUSD experienced a hyperinflationary collapse. 

Do Kwon, the founder of Terraform Labs, has encountered substantial criticism from the community and law enforcement in the aftermath of the collapse. As a result, he is no longer involved in the project, and now it operates in a fully decentralized fashion. 

Risks of LUNC

Like an investment in other crypto assets, there are some general risks to investing in LUNC. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in LUNC is subject to the following specific risks:

  • LUNC today is comparable to a ‘memecoin’, LUNC is a community project. There is no roadmap, and no funds have been raised for the project’s future development. 
  • Any potential success associated with LUNC is reliant on the growth of its decentralized community, and their continued trading and enthusiasm for the asset. These factors are difficult to predict, and could result in very high volatility.

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with LUNC. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The LUNC community and Luna Foundation are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of LUNC have no recourse to LUNC Community, developers, foundation, or Uphold if LUNC declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing LUNC on the Uphold Platform, Uphold performed due diligence on LUNC and determined that LUNC is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of LUNC, including ensuring the source code is open-source, audited and peer reviewed.
  • The supply, demand, maturity, utility, and liquidity of LUNC.
  • Any marketing materials put forward by the LUNC social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with LUNC, including any code defects, security breaches and other threats concerning LUNC and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with LUNC, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of LUNC. 


Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 21, 2023.

How to buy Terra Classic (LUNC)

With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet. 

Nothing could be easier.

Here’s how fast it is to get started:

1. Go to Uphold.com and click sign up.

2. Enter your email address and personal details. 

3. Click the link we send you and create a password

… and you’re off to the races!

Just start trading.

Get more coin for your coin

0% withdrawal fees

Low spreads

Learn more