Update on Deposit and Withdrawal Fees for LUNC and USTC on Terra Classic (LUNC) Network (2022-09-27)
Following feedback from our community, Binance will change the way we credit LUNC and USTC deposits and charge withdrawals for the Terra Classic Network.
- LUNC and USTC deposits to Binance are subject to the withdrawal fees charged by other exchanges or platforms, where applicable.
- Binance will apply a 1.2% consolidation fee for all deposits received by Binance before crediting to users’ accounts due to the 1.2% tax burn implemented on LUNC and USTC transactions on the Terra Classic network.
- Users will receive the withdrawal amount minus withdrawal fees charged by Binance and the 1.2% tax burn.
For More Information:
- Update on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
- Notice on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
- Proposal 3568
- Proposal 4159
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.