Changpeng Zhao (CZ), CEO of Binance, the world’s largest cryptocurrency exchange, made statements about the TerraClassic (LUNC) burning.
Binance CEO Changpeng Zhao September 23 Coming from the participants in the question-answer broadcast he attended on “Do you intend to support the 1.2% LUNC burn tax for every LUNC transaction that takes place on Binance?” to the question negative replied. Later, in the statement published on Binance’s official website, if certain conditions are met He stated that it could be burnt.
In the CZ statement, such an incineration protocol is primarily within the network stated that it should happen. CEO says Binance’s stand-alone start-up tax on LUNC users to other exchanges arguing that this not an effective option. told.
On the other hand, as a company respond to community requests CZ stating that they think As an alternaive LUNC operations within the requests of users 1.2% incineration tax He stated that a system can be introduced where they can pay. paying tax accepting of the total LUNC held by your accounts on Binance to 25% He stated that in case of receipt of the application, the burning tax may begin to be applied to the accepting accounts.
In the third phase, the total volume of LUNC trades on Binance of tax-paying accounts to 50% if it reaches across the entire stock market Stating that 1.2% burn tax can be introduced in LUNC transactions, the CEO said that after the tax option was presented to users. within the next month If the 25% limit is not reached or falls below 25% again in the future tax option will be removed stated.
LUNC burning is expected to affect the price positively. On the other hand, the burning tax decision taken under the leadership of Binance in other exchanges if investors follow can buy expectation and price is thought to be able to move independently of supply.