Binance to Add a Trading Fee for Terra Classic
Main page News, Altcoins, Cryptocurrency Exchanges

Crypto exchange Binance intends to introduce a fee for transactions with Terra Classic (LUNC).

According to Changpeng Zhao, CEO of the exchange, if the trading volume of the program participants reaches 50% of the total assets on the platform, the commission will be rolled out.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Last August 26, v22 update was activated on Terra Classic, which introduced a transaction tax of 1.2% on the blockchain. The crypto received as part of these fees is being withdrawn from circulation by the network, putting deflationary pressure on the supply of LUNC.

At the time, initiative group Terra Rebels, behind the development of the update, noted the team could not tax off-chain transactions, in particular, transactions on centralized platforms.

The fee is valid as of September 21. On the first day, the system burned more than 80 million coins.

Read also:
Please describe the error