eToro A Crypto.com Fir 1.2% Steierverbrennung Fir Terra Classic (LUNC) z'ënnerstëtzen

Crypto exchanges eToro and Crypto.com are supporting the 1.2% tax burn for Terra Classic (LUNC) and USTC on the Terra Classic Reseau. While Crypto.com has announced to support the tax burn for on-chain activities, eToro seems to offer tax burn for off-chain activities as well as on-chain activities.

The 1.2% tax burn was passed in the majority by the Terra Classic community. In fact, the 1.2% tax burn has been successfully implemented at the block height of 9,475,200 on September 21 at 06.20 UTC.

eToro and Crypto.com Implement Tax Burn for Terra Classic (LUNC)

eToro in a notice on its website on September 20 said the crypto exchange will support the 1.2% tax burn for Terra Classic (LUNC) and USTC on the Terra Classic network. According to eToro, the tax burn will impact the operating costs associated with all offerings of LUNC.

eToro will add an operational fee of 0.6% to bid and ask prices for LUNC, in addition to the standard 1% fee applicable during buying or selling crypto assets on eToro. It suggests the crypto exchange will implement tax burn for on-chain (deposits and withdrawals) and off-chain activities (buying and selling).

The Terra Classic community requests all Krypto Austausch to implement the 1.2% tax burn for all off-chain activities. The tax and burn mechanism continues until LUNC reaches a fixed supply of 10 billion. The tax burn gets disabled as the fixed supply reaches 10 billion.

Meanwhile, Crypto.com is also supporting the 1.2% tax burn for Terra Classic (LUNC). However, the crypto exchange will support the tax burn only for on-chain activities such as deposits and withdrawals.

During deposits, the account balance gets credited to the account after the 1.2% tax deduction by the network. Similarly, withdrawals will be subject to withdrawal fee charges and the 1.2% tax deduction by the network.

“To ensure the safety of users’ funds during and after the upgrade, we will temporarily suspend deposits and withdrawals of LUNC token during the network upgrade. The trading of LUNC token will not be affected.”

Other crypto exchanges supporting the tax burn include Binance, KuCoin, Kraken, Huobi, Gate.io, MEXC Global CoinInn, BTCEX, an LBank.

Recently, Binance announced that the management will later decide on the implementation of the 1.2% tax burn for off-chain activities. Currently, the exchange will support tax burn for Terra Classic (LUNC) on on-chain activities.

LUNC Price as the 1.2% Tax Burn Goes Live

The 1.2% tax burn is successfully implemented at the block height of 9,475,200 on September 21 at 06.20 UTC. However, the Terra Classic (LUNC) price has dived nearly 6% after the proposal goes live. The price is currently trading at $0.00028.

Ausserdeem huet d'Gemeinschaft bal 4.1 Millioune LUNC verbrannt an 632.49 Milliarden Tokens bis elo gesat.

Meanwhile, the community looks to 0.0005 $ Zilpräis again as the tax burn goes live across many exchanges.

De Varinder ass en technesche Schrëftsteller an Editeur, Technologie Enthusiast, an analyteschen Denker. Faszinéiert vun Disruptive Technologies, huet hien säi Wëssen iwwer Blockchain, Krypto-Währungen, Kënschtlech Intelligenz an den Internet vun de Saachen gedeelt. Hien ass mat der Blockchain an der Krypto-Währungsindustrie fir eng substantiell Period assoziéiert an deckt de Moment all déi lescht Updates an Entwécklungen an der Kryptoindustrie.

Dee presentéierten Inhalt kann d'perséinlech Meenung vum Autor enthalen an ass ënner Zoustand vum Maart. Maacht Är Maartfuerschung ier Dir a Kryptowärungen investéiert. Den Autor oder d'Publikatioun huet keng Verantwortung fir Äre perséinleche finanzielle Verloscht.