Tue. Feb 27th, 2024

Luna Classic (LUNC) Burn Just Got An Official Date

Luna LUNC burn tax

✍️ 27 December, 2023 – 16:10 👤 Editor: Jakub Motyka

The 1.2% burn tax of Terra Luna Classic (LUNC) already has an official date. The project, suggested a few days ago, will become an official proposal in the Terra community foreseeably before September 10, and its activation will take place on or before September 20.

This means that it will be this very month of September when we will see the new LUNA burning tax applied to all transactions that are made about the Terra Luna Classic (LUNC) crypto. 1.2% of all transactions will be sent to a project burn wallet.

The 1.2% LUNA Burn Tax (LUNC) Will Be Activated Before September 20th

As reported by user @LunaBurn_13, the Luna Classic community is already speaking about the official dates have already been published for the introduction of the tax burn, or burn tax, of LUNA with its cryptocurrency LUNC. These dates approved by the community are as follows:

  • The proposed 1.2% LUNA burn tax will be published in the Terra Classic governance system before the next day September 10.
  • The community will have 7 days to cast their votes, and if the proposal is approved (as expected), the activation of the automatic burning of LUNA will take place on September 20 or before.

Therefore, there is a date to mark on the calendar regarding the future of the LUNA crypto of the Terra Luna Classic (LUNC) project. If interest in the cryptocurrency continues in the coming weeks, this token burn could result in a significant reduction in the availability of the crypto supply.

Burning of LUNA in Terra Classic (LUNC) Will Reduce The Supply Of The Cryptocurrency

As other projects such as the Shiba Inu (SHIB) are already doing, token burning has proven to be an effective supply control measure for keep the availability of a crypto at bay. In the case of LUNA, this new tax of 1.2% will trigger the burning of LUNC with each transaction made with the Terra Luna Classic cryptocurrency.

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E-mail: juan@criptokio.com

ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges.

Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras.

EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges.

I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.
Juan Pais
Juan Pais, redactor en Criptokio.com

By Juan Pais

E-mail: juan@criptokio.com ES: Por mi trabajo de redactor siempre he escrito para otros temas pero la verdad es que a día de hoy lo que más me apasiona es el tema de las criptos. Tengo conocimientos tanto en criptomonedas y wallets como de airdrops y exchanges. Poseo wallet en Coinbase y Trust Wallet, y cuentas en una variada cantidad de exchanges como Satoshi Tango, Binance, Crypto, Ripio, entre otras. EN: EN: Because of my work as an editor I have always written for other topics but the truth is that today what I am most passionate about is the topic of cryptos. I have knowledge in both cryptocurrencies and wallets as well as airdrops and exchanges. I have a wallet in Coinbase and Trust Wallet, and accounts in a variety of exchanges such as Satoshi Tango, Binance, Crypto, Ripio, among others.

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