Has Binance #LUNC✅ Burn Mechanism Revised?
Binance $LUNC burn data indicates that the crypto #exchange has likely revised its LUNC burn mechanism, increasing the number of burns monthly. According to an earlier announcement, the exchange burns #TerraLunaClassic tokens on the first of every month. However, the exchange burned the #tokens six times this month.
This has sparked speculations as Binance had earlier reduced its Terra Luna Classic spot and margin trading fees to 50% instead of 100%. It even delayed sending the Terra Luna Classic trading fee burn contribution for months. However, the exchange is burning more tokens this time.
Binance burned 1.19 billion LUNC tokens in the 25th batch of the LUNC burn mechanism, the crypto exchange burned $97,229.23 in trading fees for the period between July 31 to August 29.
In addition to the main burn, the exchange burned 199,389 LUNC tokens in five transactions until now. Some Terra Luna Classic members believe the exchange has changed the way it has burned the tokens.
