$LUNC

Binance, has announced its support for the Terra Classic (LUNC) network's v3.3.0 upgrade. This upgrade is scheduled to occur at block height 21,163,600, which is expected to be reached on December 17, 2024, at approximately 12:57 UTC.

Key Details of the Upgrade:

Purpose: The v3.3.0 upgrade aims to enhance the Terra Classic network by simplifying tax handling and boosting utility. It introduces a new tax handling system that automatically deducts taxes from transactions before they reach the recipient's wallet, streamlining compliance for users and developers

Impact on Users: During the upgrade process, Binance will temporarily suspend deposits and withdrawals of LUNC tokens to ensure a seamless transition. However, trading of LUNC on Binance will continue uninterrupted. Once the network is deemed stable post-upgrade, deposits and withdrawals will resume.

Broader Support: Other major cryptocurrency exchanges, such as Bybit and OKX, have also expressed their support for the Terra Classic v3.3.0 upgrade, indicating widespread industry backing for this development

This upgrade is part of ongoing efforts to revive the Terra Classic ecosystem by improving its functionality and attractiveness to developers and projects. The community has been actively involved in initiatives like token burns and proposals to enhance the network's utility and security.