TerraCVita, a group of developers working on a decentralized finance (DeFi) project that is built on Terra Classic layer 2, recently disclosed how the DEX will contribute to the LUNC burn expedition.

Per a Monday update, TerraCVita released the Terraport Finance whitepaper which contained critical information about the project and the road map. Notably, Terraport is an autonomous and decentralized finance (DeFi) platform built on Terra Classic layer 2 through smart contracts.

In stating why the Terraport DEX was birthed, the team which is aiming to stabilize the Terra Classic ecosystem by providing infrastructure and endpoints noted that utilities are needed for LUNC to grow and attract new investors and daily users.

Considering that building the ecosystem and reducing the native token supply are the core missions of the Terra Classic community, Terraport is developed to serve as a LUNC burn furnace, as earlier stated by Rex Harrison, a top TCV member.

According to TerraCVita, one of the benefits of Terraport to the Terra Classic project is contributing to the increase in the assets on-chain volume taxes. In turn, increased on-chain volume will contribute to the LUNC community pool and the current burn tax.