The Terra crash hasn't even been three years ago, and now the "zombie tokens" LUNC and USTC are in trouble again. The latest news is that the court has issued a strict order: the liquidation team must expedite the token burn plan to give an explanation to over 280,000 investors worldwide. After all, when Do Kwon's Terra empire completely collapsed, 40 billion USD just vanished into thin air.

How has the market reacted in the past few days? Just look at the data. LUNC dropped 2.66% intraday, and USTC fared even worse, falling 3.63%. Many veteran investors thought that burning tokens would save the situation, but this is how the market is performing now. Not to mention a rise, the market is still on the sidelines.

What exactly is going on? There are two main issues. First, how effective is the execution of the liquidation team? Frankly, the community has been calling for token burns for years, to the point of voice hoarseness, but how quickly these actions can actually be implemented remains uncertain. The second issue is even more painful: even if the burn process proceeds on schedule, Terra's ecosystem has long been in disarray. Currently, aside from the hype around burning, there is no real application support. After short-term speculation, the price is very likely to fall back.

But don't completely dismiss it either. From a technical perspective, Market Module 2.0 has already been launched, and this mechanism is indeed making moves—reducing new coin issuance and focusing on burns. Every transaction is pushing towards deflation, which is supported by the mechanism design. The key is whether the promises can truly be reflected in market performance—that's what investors care about most.