The 1.2% Burn Tax Of Terra Luna Classic (LUNC) Already Has An Exact Date

✍️ 27 December, 2023 - 16:08 👤 Editor: Jakub Motyka

• LATEST NEWS: Terra Luna Classic (LUNC) Tax Burn Is On.
• The 1.2% token burn tax to be applied on Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) transactions now has an official arrival date.
• It will be activated with block 9,475,200.
• The latest news about cryptos, in our Telegram channel.

The 1.2% burn through the Terra Luna Classic (LUNC) tax is getting closer. Today we learned that this new tax, which will benefit the LUNC burn, is scheduled to be activated with the 9,475,200 block of the Terra Classic blockchain.

According to calculations, this means that the 1.2% tax on Terra Luna Classic (LUNC) burning will come into effect from next September 21 at 22:00h (UTC). From that moment on, transactions with LUNC and USTC will be subject to the 1.2% tax, the collection of which will go directly to the Terra Luna Classic burning wallet.

The 1.2% Burn Tax Of Terra Luna Classic (LUNC) Will Be Activated With The Block 9,475,200

Currently Terra Luna Classic (LUNC) and its blockchain network are in block 9,408,032, so we are on the verge of activating the 1.2% for burning LUNC. In a matter of days, specifically next September 21st at 22:00h (UTC) with block 9,475,200, it will come into force this new measure aimed at increasing the number of LUNC tokens burned each day.

Terra Classic governance has passed prop 4661. The treasury parameter rates have already been updated. Once the new epoch starts (block 9,475,200), the effective tax rate will automatically be changed to 1.2%.

— Edward Kim (@edk208) September 15, 2022

Binance, the only exchange that has so far refused to apply the 1.2% burn tax of Terra Luna Classic (LUNC) to the operations carried out in its trading market, for now it has not backed down and will limit itself to applying it only to deposits and withdrawals from LUNC and USTC .

The Price Of Terra Luna Classic (LUNC) Flirts With The Values Of The Beginning Of September

The Terra Luna Classic (LUNC) price today, on September 16, 2022, is $0.0002705, which is close to the figures in which the new LUNA crypto was listed at the beginning of September, after the spectacular bullish rally that it experienced in those days.

The market capitalization of LUNC at the time of writing this news is $1,660,584,215.

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