Update on the LUNC and USTC tax burning mechanism on the Terra Classic (LUNC) network.
The Tax Burn for LUNC and USTC
According to the previous announcement, the 1.2% tax and fee burning of LUNC and USTC is expected to go live at the Terra Classic block height of 9,475,200 or approximately 06:00 on September 22, 2022 (East 8th district time).
It should be clarified that once the burning tax takes effect, LUNC and USTC deposits from user deposit addresses to the Binance Hot Wallet will be collected and a 1.2% burning tax will be charged by the Terra Classic network.
Binance will incorporate the 1.2% burn tax into the withdrawal fees of LUNC and USTC.
Users who do not withdraw will not be charged this fee.
Binance will adjust the minimum withdrawal amount, maximum withdrawal amount and withdrawal fee for LUNC and USTC accordingly.
Go to Binance’s Official Website
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
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April 24, 2024
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