Terra Luna Classic (LUNC) Burn On MEXC: 11 Million Burned In 1 Day

Terra Luna Classic (LUNC) burn

✍️ 7 September, 2022 - 14:59 👤 Editor: Jakub Motyka

A few days ago, the cryptocurrency exchange MEXC announced that it would support the proposed burning of tokens with the 1.2% tax from the LUNC community.

This week the Terra Luna Classic (LUNC) burn has going live, and is allowing the daily burning of several million tokens of this cryptocurrency.

MEXC has become the first cryptocurrency exchange to adopt the proposed 1.2% burn tax of tokens of the LUNC community of Terra Luna Classic, thus adopting a measure that consists of burning the spot trading equivalent fee in LUNCs for the duration of the token burning event, which began on September 3 and will last until September 17.

MEXC Burns More Than 11 Million Terra Luna Classic (LUNC) Tokens On Its First Day

Exchange MEXC has enabled a page where you can follow the daily token burn of Terra Luna Classic (LUNC) for the duration of this event. The burn applies to all transactions made with the pairs LUNC/USDT and LUNC/USDC, and implies that the exchange commits to use the commission of 1 .2% to repurchase LUNC tokens to then send them to the official LUNC burn wallet announced by the community.

On the first day of the token burning event, which took place last September 4th, a total of 11,015,812.43 LUNCs were destroyed, which with the current price of this cryptocurrency is equivalent to burning more than 3 thousand dollars.

At the time of writing this article, the exchange has burned in the last 2 days a sum greater than 25 million LUNC tokens, which is equivalent to more than 6 thousand dollars.

The Burning Of LUNA On MEXC Will Continue Until September 17th

The burning of LUNC in MEXC began on September 3 at 10:00 a.m. (UTC), and is scheduled to continue until September 17 at 10:00 a.m. (UTC). UTC). The exchange will report on a daily basis the tokens burned with the operations on its platform.

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Juan Pais

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