Huobi Global will set up a tax and fee destruction mechanism for BSC GALA

Huobi Global released an announcement about the PGALA tax and fee burning mechanism on the BSC network. The BSC Gala token (formerly GALA) will be renamed PGALA on the platform, and the following adjustments will be made: 1. The platform will close PGALA recharge; 2. Set up tax and fee burning mechanism, adjust the pGALA spot transaction fee to a two-way charge of 0.012 (1.2%), and other tax mechanisms on the platform will not be affected; 3. All fee income is used to repurchase and destroy PGALA, and the tax burning mechanism is expected to be implemented in 2022 Launched at 0:00 on November 5th; 4. The unjust enrichment obtained by recharging and issuing BSC GALA TOKEN is all used to repurchase and destroy PGALA, and all GALA transaction pairs on the platform from 0-24:00 on November 4th (UTC+8) All proceeds will be used to repurchase and destroy PGALA; 5. On behalf of users, Huobi will continue to negotiate with the project on compensation for users who lost assets due to this incident.