Binance Updates LUNC and USTC Deposit and Withdrawal Fees on Terra Classic Network, Reduces Transaction Burn Tax from 1.2% to 0.2%

Binance announced that due to the proposal No. 5234 passed by the LUNC community to reduce the transaction destruction tax from 1.2% to 0.2%, the proposal is estimated to take effect at 20:50 on October 19, 2022. Binance will update the deposit and withdrawal fees of LUNC and USTC on the Terra Classic network. When depositing, the 1.2% transaction destruction tax for LUNC and USTC deposits will be reduced from 0.2%. The deposits of LUNC and USTC on Binance will be subject to other transactions The withdrawal fee charged by the platform or platform (if applicable); the withdrawal amount received by the user will be deducted from the withdrawal fee charged by Binance and the 0.2% transaction destruction tax.