[ccpw id="39382"]

HomeCrypto NewsMarketTerra Classic (LUNC) Launched New Proposal For Exchanges To Implement Burns On Trading

Terra Classic (LUNC) Launched New Proposal For Exchanges To Implement Burns On Trading


Written By:

Should exchanges implement a 1.2% tax burn?

- Advertisement -

A New Proposal Is Launched To Request That centralized exchanges (CEXes) Implement burns On Off-Chain Transactions (trading).

- Advertisement -

The LUNC community has launched a new proposal requesting that central exchanges (CEXes) implement the proposal on off-chain activity, like spot trading. While several exchanges have expressed support for the proposal, there appears to be mixed messaging, as most plan to implement it on only deposits and withdrawals. Notably, in an ask me anything (AMA) with KuCoin on Thursday, the exchange implied that it would not implement the proposal for off-chain transactions.

However, the community believes that central exchanges’ support for the 1.2% tax burn proposal should include off-chain activity. It is worth noting that most LUNC activity takes place on these CEXes. Consequently, implementing the proposal on off-chain transactions will go a long way to make it more effective in burning excess LUNC supply. Notably, the community is set to join an AMA with Binance less than a week from now, with plans to bring up the tax burn.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

More from Author