Terra Classic (LUNC) is introducing a 1.2% tax burn
Terra Classic (LUNC) will be introducing a 1.2% ‘tax burn’ to all on-chain transactions.
The Terra Classic (LUNC) project has passed a proposal to introduce a 1.2% ‘tax burn’ to all on-chain transactions.
This means that the value of deposits and withdrawals of LUNC to and from the Zonda exchange will be reduced by 1.2%.
NOTE: This applies only to deposits and withdrawals and will not affect existing balances of LUNC on Zonda, nor will a fee be charged for transactions made on the Zonda platform.
Example:
If you deposit 1,000,000 LUNC, the Terra network charges a 1.2% fee and only 988,000 LUNC reaches us, and this is the amount we add to your account.
The introduction of the fee is planned for block 9,475,200 which should occur on 21.09.2022.
We may need to block deposits and withdrawals for the duration of the change.
Link to the proposals:
https://cosmosrun.info/terra-classic/gov/3568
https://cosmosrun.info/terra-classic/gov/4159
*** All times are approximate and will depend on block creation speed.
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