Terra CEO Do Kwon seems to have long opposed the idea of burning the excessive Luna token circulating in the crypto market, it seems the idea of token burn is completely out of the team's initial plans since most investors have been clamoring for a burn mechanism the CEO had no choice but to provide what investors wanted which is an address where all burnt LUNA token will be sent and burn.
Cardano CEO Charles Hoskinson doesn't seem to like the idea of token burn which he has always reiterated there will be no ADA token burn now or in the future reducing a token supply through burning mechanism have been a sustainable means of maintaining token price stability in the market and for terra, this will be the best possible means of reviving Luna back to its pace.
To clarify, as I’ve noted multiple times I don't think sending tokens to this address to burn tokens is a good idea - nothing happens except that you lose your tokens.
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Decentralization eliminates the need for one man to make decisions which seems to play its role by fairly proving a burn address that must investors ask for.
Does Kwon want to protect investors' interest burnt token only results in more losses?
How does the burn address work will you burn your luna at loss?
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A large number of luna tokens can be sent to the above address by anyone who wishes to reduce the excessive supply of Luna tokens, there are no limits to what one can burn, an important question here is, are most investors willing to voluntarily burn their old Luna token in loss a total of 278 million units of luna was sent down for burn, does this number help get rid of luna excessive supply, for now, I suppose more trillion units of luna need to be burned to reduce the hyperinflated supply of luna token in circulation.
Tokens sent to the burn address are permanently cut off from circulation I suppose Do Kwon isn't happy those precious tokens are been sent to a land of no return, I guess this has been the reason why he's against the permanent burn of old Luna supply.