Independent Terra Classic development group TerraCVita yesterday released the white paper for its decentralized finance project dubbed Terraport.

Per the write-up, the project not only comprises a decentralized exchange that will allow users to trade assets on-chain and cross-chain but also consists of a launchpad where users can fund projects and a lottery game for entertainment.

According to the team, every week, the treasury will buy back and burn LUNC with 27% of all fees received. Per the white paper and accompanying medium blog post, developers believe the project has the potential to burn billions of LUNC weekly. Notably, the treasury will also conduct weekly burns of TERRA, the protocol native token, with 22% of all treasury funds, creating scarcity that could significantly increase the token’s value over time.

(By Mark Brennan)