Fellow Binancians,
Following feedback from our community, Binance will change the way we credit LUNC and USTC deposits and charge withdrawals for the Terra Classic Network.
Deposits:
- LUNC and USTC deposits to Binance are subject to the withdrawal fees charged by other exchanges or platforms, where applicable.
- Binance will apply a 1.2% consolidation fee for all deposits received by Binance before crediting to users’ accounts due to the 1.2% tax burn implemented on LUNC and USTC transactions on the Terra Classic network.
Withdrawals:
- Users will receive the withdrawal amount minus withdrawal fees charged by Binance and the 1.2% tax burn.
For More Information:
- Update on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
- Notice on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
- Proposal 3568
- Proposal 4159
Thanks for your support!
Binance Team
2022-09-27
Find us on
Telegram: https://t.me/binanceexchange
Twitter: https://twitter.com/binance
Facebook: https://www.facebook.com/binance
Instagram: https://www.instagram.com/binance
Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning.