How much LUNC exists: total vs circulating supply

LUNC total supply, straight from the chain

Total supply is the cleanest number in Terra Classic. It is every LUNC that exists, counted by the chain itself, and it sits at roughly 6.44 trillion coins. The network pulse panel at the top of this page reads it live from public nodes, along with the latest block, the staked share and the burn tax. Nothing is estimated or excluded: coins in personal wallets, on exchanges, staked with validators, locked in contracts and held by the community and oracle pools are all inside it.

You can check it yourself in seconds. The endpoint /cosmos/bank/v1beta1/supply/by_denom?denom=uluna on any public Terra Classic node returns the total in uluna, the smallest unit. LUNC has six decimals, so divide by 1,000,000. Run it twice an hour apart and the number will be a little lower the second time, because burns destroy coins in every block while nothing new is minted.

That steady fall is the whole supply story since mid-2022. From a post-crash peak of about 6.907 trillion, roughly 462 billion LUNC has been removed, about 6.7%. Our LUNC burn tracker shows that total live and breaks down where the burns came from.

Total vs circulating supply: why CoinGecko shows less

Open LUNC on CoinGecko or CoinMarketCap and you will see a circulating supply of about 5.5 trillion, roughly 0.9 trillion below the on-chain total. The aggregators leave out balances they consider not liquid, such as protocol pools, some staked coins and large holder wallets. The catch is that neither site publishes which wallets it excludes, so the exact list could not be confirmed. LuncScan publishes its own circulating figure, also around 5.5 trillion, with a method it does not document either.

What we can say is that the gap is far bigger than the two protocol pools. The community pool and the oracle pool together hold about 44 billion LUNC, a small fraction of the roughly 927 billion difference. So most of the excluded coins sit outside the pools, and you should not assume they are all staked, burned or permanently locked.

The practical rule: don’t mix the two figures. Market cap on price sites is price times circulating supply. Long-range math such as “what would $0.001 need?” usually uses total supply, because excluded coins can move. Here is a labelled example. If LUNC traded at $0.00004, market cap would be about $220 million on 5.5 trillion circulating coins, but about $258 million on the 6.44 trillion total. Same coin, same price, a gap of nearly $40 million that comes only from the definition. Our LUNC price page shows the live numbers.

Is there a LUNC max supply?

No. Terra Classic has no hard cap in its code. What it has instead is a mint inflation parameter set to zero, which means the protocol creates no new LUNC and staking rewards are paid from fees, the tax split and the oracle pool rather than from new coins. Inflation is a governance-set parameter, so a future vote and software change could alter it, but there is no sign of that in the governance record.

CoinMarketCap shows a “max supply” for LUNC, but it is just the total repeated. That is misleading: a max supply normally means a ceiling the protocol can never exceed, and LUNC has none. It simply has no issuance switched on.

Two other old minting routes are closed too. The market module that once swapped USTC into freshly minted LUNC runs with a 100% spread, so swaps are effectively off, and USTC minting was disabled by proposal 11868 in November 2023, which raised the Tobin tax to 100%. And an earlier plan to re-mint half of all burned coins, proposal 10983, was repealed by proposal 11111. You will also still see the “burn until 10 billion LUNC” target quoted; it came from the text of signal proposal 3568 and was never coded.

Count twice

Where the LUNC supply sits

It helps to break total supply into buckets. The figures below are rounded on purpose, because they move every block; the pulse panel above and the sources at the end give live values.

The staked share deserves a word. Roughly 14% of all LUNC is bonded to validators, which is low for a proof-of-stake chain. Bonded coins are not locked forever, but unstaking takes 21 days, a governance-set parameter, so they cannot hit the market quickly. Real staking rewards are around 2% a year net, not the double-digit figures some wallets show. Our LUNC staking guide explains why, and how to pick a validator.

The community pool and the oracle pool

Two protocol accounts hold LUNC that no individual controls. Both are part of total supply, and both are refilled by the burn tax.

The community pool holds roughly 9.4 billion LUNC plus around 63 million USTC. It receives 10% of every burn tax payment and half of gas-fee rewards, because the chain’s community tax is 50%. It can only be spent by a governance proposal that passes a vote, which is how developer grants and infrastructure are funded. A 2026 proposal to cap it at 7 billion LUNC and send the surplus to the oracle pool, 12224, was rejected. See our governance guide for how spending proposals work.

The oracle pool is larger, about 35 billion LUNC plus some USTC. It is the main source of staking rewards: it pays out a tiny fraction of its balance every few blocks to validators who submit accurate price votes, spread over a window of 9.4 million blocks. It is refilled by the other 10% of the burn tax, but it has been paying out faster than it refills, so its balance drifts down. In one 100,000-block stretch it fell by about 300 million LUNC.

Neither pool is burned, and coins leaving them do not change total supply. They just move from a protocol account to a wallet, where they can later be sold, staked or burned like any other LUNC. The burn tax guide covers the 80/10/10 split that feeds both pools.

Supply checked. Next: your first LUNC

Most Asian currencies have no LUNC pair at all. Grab USDT by card, move it to an exchange that lists LUNC and buy there.

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LUNC supply history: from 725 million to trillions

LUNC’s supply chart looks like no other coin’s: almost flat, then a vertical wall, then a slow slide. The wall is May 2022. When UST lost its peg, holders redeemed it for newly minted LUNA, which was then called LUNA, and the supply exploded in days. The Terra Luna crash page tells that story in full; here are the supply milestones.

1. 7 May 2022About 725 million LUNA in totalTotal supply at block 7,544,000. The often-quoted 350 million is the circulating figure, not total supply.
2. 9–13 May 2022UST redemptions mint trillionsUST holders swap into newly minted LUNA; the chain halts twice, on 12 and 13 May.
3. 27 May 2022Peak of about 6.907 trillionTotal supply at block 7,790,000, also the post-attack airdrop snapshot for Terra 2.0.
4. 28 May 2022Terra Classic is bornTerra 2.0 launches as a new chain. The old chain keeps columbus-5, LUNA becomes LUNC.
5. 21 Sep 2022The 1.2% burn tax goes liveBlock 9,475,200. Binance starts burning LUNC trading fees the same month.
6. Nov 2025About 6.48 trillionReading published by LuncScan (secondary source).
7. Aug 2026Tax raised to 1.5%Proposal 12223; 1.2% of each taxed transfer is burned.
8. Since thenAbout 6.44 trillion and fallingRoughly 6.7% below the peak; live figure in the panel above.

Put the two halves side by side and the scale becomes clear. Supply grew by roughly 6.2 trillion coins in three weeks, and in the four years since, burns have removed about 0.46 trillion. That is real progress, and it is also why a return to anything like the pre-crash supply is not on the table.

A side note on USTC supply

USTC, the old UST stablecoin, has its own supply that has nothing to do with LUNC’s total. There are about 6 billion USTC on-chain, against roughly 18.8 billion UST before the collapse, and price sites list about 5.6 billion as circulating. Some of the drop came from governance: proposals 12135 and 12138 in 2024 burned about 730 million USTC from Anchor and about 47 million from Mirror contracts.

Because the market module is off, USTC cannot be swapped into LUNC on-chain and cannot add to LUNC supply. The pulse panel shows the live USTC supply next to LUNC. Our USTC guide covers its price, the burns and what the repeg proposals would actually need.

Why LUNC supply matters for price

Price and supply are tied by one formula: market cap equals price times supply. With trillions of coins, even small prices imply large valuations, and big price targets imply enormous ones. A $1 LUNC on roughly 6.44 trillion coins would mean a market cap of about $6.4 trillion, against a real valuation in the low hundreds of millions of dollars. Our can LUNC reach $1 page runs that math for every target.

Burns help, but slowly. Cutting supply by 10% would, with demand unchanged, lift the price by about 11%. To double the price through supply alone, half of all LUNC would have to be destroyed, and at the 2026 pace of a few tens of billions a year that is many decades away. Demand, liquidity and listings move the price far more than the burn does in any given year, which is why we look at both. The price prediction page has a sandbox where you can test supply and market cap together.

New to the coin? Start with our how to buy LUNC guide, then keep your coins in a wallet you control so you can track your own share of the supply in the LUNC explorer.