Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Binance to Update Burn Tax on LUNC & USTC Transaction

Admin by Admin
October 19, 2022
in Crypto News
0
Binance burn tax on LUNC USTC
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Binance will update the burning tax on on-chain transactions including deposits and withdrawals from 1.2% to 0.2%. It will apply to all Terra Classic (LUNC) and Terra Classic USD (USTC) deposits and withdrawals. However, the change will not apply to the off-chain tax burn of trading fees on LUNC spot and margin trades.

Binance will reduce the 1.2% burn tax on LUNC and USTC deposits received to 0.2%. However, deposits may or may not have withdrawal fees charged by other crypto exchanges or platforms.

During withdrawals, users will receive the withdrawal amount after withdrawal fees charged by Binance and a 0.2% tax burn by Terra Classic chain.

Terra Classic community introduced and passed proposal 5234 after Binance CEO “CZ” recommended reducing the fees to increase LUNC trading, which may increase the LUNC burn rate.

Terra Rebels lead developers Edward Kim and Alex Foreshaw also supported Proposal 5234. Moreover, Terra Rebel introduced a proposal for the Terra Classic Grants Program to ensure the transparent and efficient use of funds in the community pool.

The 0.2% tax burn on Terra Classic and USTC deposits and withdrawals will take effect at epoch 98, estimated on October 19 at 12.50 UTC.

 

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: BinanceLUNCUSTC
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Bitcoin,Crypto Assets Added To Guinness Book Of Records

Next Post

Jeff Bezos Warns Of Roughtime Ahead Of Recession Looms

Admin

Admin

Next Post
Jeff Bezos warns recession

Jeff Bezos Warns Of Roughtime Ahead Of Recession Looms

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023
CFTC Pushes For Additional Crypto Acquisition Reviews

CFTC Pushes For Additional Crypto Acquisition Reviews

January 27, 2023
SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

January 27, 2023

Recent News

Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023
CFTC Pushes For Additional Crypto Acquisition Reviews

CFTC Pushes For Additional Crypto Acquisition Reviews

January 27, 2023
SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

SBF Immediate Family Is Set To Be Questioned About The Financial Gains They Made From FTX

January 27, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

Bahrain Real Estate Company Starts Accepting Crypto Payments

Bahrain Real Estate Company Starts Accepting Crypto Payments

January 27, 2023
Industry Body Clarifies What Happens When Crypto Derivatives Crash

Industry Body Clarifies What Happens When Crypto Derivatives Crash

January 27, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>