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Top Exchanges Accepts To Reduce Terra Classic (LUNC) Tax Burn

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The Terra LUNA classic (LUNC) community recently passed proposal 5234 which aims to reduce the tax burn for on-chain transactions for the LUNC token and is meant to be stablecoin USTC on Terra classic network. The Tax burn will be decreased from 1.2% to 0.2%.

Binance, the world’s largest crypto exchange became one of the first platforms to implement this LUNC tax burn proposal. However, now other exchanges are now following Binance’s lead.



OKX To Support LUNC and USTC Reduced Tax Rate

OKX, a Seychelles-based cryptocurrency exchange announced that it will support the reduced tax rate.


LUNC Community Pass Proposal 5234

The LUNC community has passed Proposal 5234, which will reduce the tax burn for on-chain transactions of LUNC and USTC on Terra Classic network from 1.2% to 0.2%. Binance will reduce the 1.2% consolidation fee for all LUNC and USTC deposits to 0.2%.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.


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