Binance to burn all LUNC trading fees following community feedback

Binance to burn all LUNC trading fees following community feedback

The Binance crypto exchange will burn all trading fees collected on its LUNC/BUSD and LUNC/USDT spot and margin pairs. To support the Terra community’s efforts to revive the Terra (LUNA) — now renamed Terra Classic (LUNC) — token, crypto exchange Binance announced an off-chain burning mechanism last week. However, after receiving mixed reactions from community members, the exchange revised its burning approach. On Sept. 23, Binance CEO Changpeng Zhao wrote that the exchange will create an optional 1.2% tax when trading LUNC. Zhao added that they will roll out the 1.2% tax for all LUNC....


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