In a bold move to revitalize Terra Luna Classic (LUNC), Binance has launched a comprehensive revival campaign through its Thai branch, Binance TH. The campaign includes a sweepstakes campaign, rewarding activities, and a token burn initiative to help peg Terra Classic USD (USTC) back to $1.

The campaign kicked off with a gift package of 100,000 LUNC tokens for first-time traders, followed by a series of activities designed to incentivize trading and community engagement. To participate, users must complete their Know Your Customer (KYC) verification and either deposit 500,000 LUNC tokens or make their first LUNC trade with a minimum value of 50 USDT.

Binance TH has also pledged to reach out to those who suffered the most from the UST de-pegging in May 2022, offering a platform to share their experiences and receive special crypto prizes and branded merchandise.

The LUNC rejuvenation campaign has been ongoing since mid-2022, with Binance committing to periodically burn LUNC tokens from compiled trading fees every month. To date, the exchange has burned over 59 billion LUNC coins, reducing the remaining circulating supply to 5.51T.

While LUNC has seen a 3% upswing in the past 24 hours, USTC still trades below 2 cents, and its repeg to $1 depends on a coordinated plan with major centralized exchanges to burn a part of the remaining USTC supply.

Terra Luna's rebranding efforts since the 2022 fiasco have helped restore some of its initial functions, but crypto investors are still seeking closure for the massive losses incurred. Binance's revival campaign offers a glimmer of hope for LUNC and USTC holders, and its success could pave the way for a full recovery.

As the campaign gains momentum, it remains to be seen whether Binance's efforts will be enough to revive LUNC and repeg USTC to $1. One thing is certain, however: the exchange's commitment to the Terra Classic community is a step in the right direction.