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