The proposal to burn the $LUNA from community pool was initiated by the Terraform Labs team from through proposal id 133 and 134. So let's take a look at the proposal voting results. Both proposal passed with over 99% voter voting yes. Both had over 3000+ votes casted each.

So after the proposal was passed, the burning started to commence at block number 5316800 and at every ~800 blocks. Each time, they burned 520,000 $LUNA and minted around 14M-15M $UST. In total, over 1B UST minted in 70 transactions.

From the community fund burning, we can see the total supply of $UST suddenly spiked. In total 36.15M $LUNA was burned and 1,051,420,632 $UST was minted in two weeks. Bringing the total $UST supply to over 6 billion market cap, rivalling $DAI, which is one the OG stablecoins.

As a direct result, the staking APY has increased dramatically to over double digit as per Smart Stake. The calculation for staking was quite complicated as it involves many parts such as tax rewards, oracle rewards, MIR and ANC airdrop rewards etc so had to use data provided by Smart Stake.

We can see that the burning (which is basically a swap on native market) during the 11 days take up most of the swap volume on those days.

On Anchor protocol, the normal uptrend maintains and ATH discoveries days after days even during the burning events for both Anchor Earn deposits and also borrows.

In term of wealth distribution, we can see that the number address in all 4 categories (which held less than 100, between 100 and 1000, between 1000 and 10,000 and over 10,000) has increased. This means that number of overall users has increased so we can say that more users coming to Terra after the burning events.