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.
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