KuCoin pledges LUNC’s support for the burn tax as key pathways to the proposal


  • Terra Luna Classic Burn Tax Initiative It receives support from KuCoin.
  • Binance has expressed support for Terra Classic’s L1 parity upgrade.
  • LUNC has fallen 2.3% in the past seven days, and it is still trading below a key support level.

The third largest global cryptocurrency exchange KuCoin Declare support For the recently passed Terra Classic proposal #11515. Under the NEP, the current tax burn will be replaced by a 0.5% tax burn at block height 12902,399.

New demand for KuCoin will start as soon as today. This comes just a day after Binance, another popular crypto exchange, announced its support for the recent Terra Classic mainnet upgrade, which brought the Terra Classic blockchain. equals with LUNA 2.0 and other blockchains supported by the Cosmos protocol.

LUNC tax burn to cut the show in half?

Previously, the incineration tax was only 0.2%, up 150%. Cryptocurrency fans on Twitter are wondering how much impact the new rule will have – it’s supposed to start on May 23, 2023. The advanced burn mechanism aims to cut supply dramatically The embattled altcoin.

In four days, the 0.5% tax burn will go into effect to accelerate the Terra Luna Classic (LUNC) burn mechanism, which also plays a key role in the USTC’s reset plan. More LUNCs burned also means more USTC space mask Vault suggested by Redline Drifter.

On top of that, the increased burn tax comes as the LUNC community goes the extra mile to bring to life its next RPG, series of AI apps, and highest level storage ever. with More than 1 billion dollars Tied LUNC tokens, it’s clear that the community is still going strong even a year after the worst failed cryptocurrency ever.

on the flip side

  • According to Crypto Twitter, KuCoin addresses are Not whitelisted On tax burn like Binance.
  • Terra validators agree to whitelist addresses once KuCoin starts burning LUNC.

Why is this important

Terra Classic technology upgrades can improve compatibility with other blockchains and increase chances of activation.

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