Dear BTCEX users,
The Terra community has passed Proposals 3568 and 4159, which will introduce a 1.2% tax burn for on-chain transactions of LUNC and USTC on the Terra Classic network. In accordance with Terra governance, these proposals are being created to change the tax parameter from its current value of 0 to 0.012 (1.2%). The tax will be applied to all currency denominations currently available on-chain, including LUNC and USTC.
BTCEX will review and amend the minimum withdrawal amount, maximum withdrawal amount, and withdrawal fees for LUNC and USTC via the Terra Classic network.
- Deposits: Transactions will be taxed by the Terra Classic network before it reaches BTCEX. The balance will be credited to your BTCEX account after the 1.2% tax deduction by the network.
- Withdrawals: Users will receive the withdrawal amount minus withdrawal fees charged by BTCEX and the 1.2% tax deduction by the network.
- Spot and perpetual trading for LUNC and USTC will not be affected by this tax burn.
Risk Warning: There are significant risks in trading cryptocurrency. Please carry out investment operations according to your actual situation. This information is not financial or investment advice from BTCEX, and BTCEX will not be responsible for your trading losses.
Thanks for your support!
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