Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Bitcoin -price could prepare for a new wave of volatility – this is why

2025-05-18

Scalable L1 Power Meme -Munten

2025-05-18

Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18

    Interview with Nieuwe Lukso Coo

    2025-05-18

    B2 Network brings AI to Bitcoin with DSN-AI Rollup Protocol

    2025-05-18

    The Alice Collective elevates ‘My Neighbor Alice’ in collaboration with Persona Journey

    2025-05-17
  • NFT

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16

    Founder wallet emptied while he leaves

    2025-05-15

    British Museum puts sculptures from Dürer’s ‘Rhinoceros’ on Bitcoin Blockchain

    2025-05-14
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»LUNC Burn Tax set to rise to 0.5% if KuCoin proposal gets approval
Altcoins

LUNC Burn Tax set to rise to 0.5% if KuCoin proposal gets approval

2023-05-20No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

After collecting the required votes, an important proposal has just been passed in the KuCoin network. The proposal aimed to increase the fire load of Terra Classic LUNC to 0.5%.

Following the positive results, KuCoin stated that the burn rate of the LUNC network was increased from 0.2% to the proposed 0.5%.

LUNC Network burns tax spikes on KuCoin

KuCoin increased Twitter to announce the increase in the combustion tax. In its announcement, KuCoin stated that it would facilitate the raising of Terra Classic LUNC and TerraClassicUSD (USTC) on its platform after the activation of the burn tax.

Specifically, the activation will occur at the designated Terra Classic block height of 12,902,399 and take effect on May 23.

Once activated, KuCoin will pay users more for transactions with the two crypto assets, LUNC and USTC. Aside from the increased payments, the combustion tax will reduce LUNC’s supply.

But there is still a downside to the increased tax on consumption, as it will reduce trading volume. This is why many exchanges have rejected such proposals in the past.

Notably, KuCoin has always supported such increases even when other exchanges slow down. For example, supported the exchange first a September 2022 Terra Classic combustion tax of 1.2%, even before the proposal was passed.

Other exchanges, including Crypto.com, MEXC, and Binance, only later declared support for the incineration tax.

But after the proposal was passed, data implied that the increase reduced trading volume for LUNC. Many investors stopped trading the asset due to the spike in fees.

See also  Why did Bitcoin rise today? This is the cause of the latest increase above $91,000

Following the outcome, the LUNC community voted to lower the burns tax to 0.2%, attracting support from crypto exchanges like Binance.

Following the reduction, the Terra Classic community came up with another proposal to increase the burn tax rate, but it was not executed.

Latest proposal for tax increase for incineration, 3 others get massive support

While other proposals to increase the burn tax after cutting it from 1.2% to 0.2% failed due to various debates and arguments, the latter received massive support.

LUNC
LUNC price falls l Source: Trade view

One of the reasons proposal 11515 was passed was the conservative increase, which would not increase fees and would discourage investors.

The proposal was mainly aimed at reducing the excess supply of LUNC tokens in the market to avoid oversaturation and the associated risks.

But it’s not the only proposal submitted to the LUNC community. An active member raised 3 other proposals, plus the increase in the tax on burns to improve economic policies on the network.

The three others focused on increasing demand by increasing wagering rewards, whitelisting smart contracts to increase utility and volume of the chain, and increasing funding from community pools to increase developer funding. strengthen.

-Featured image from Pexels, chart from Tradingview



Source link

Approval burn KuCoin LUNC Proposal Rise Set tax
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Scalable L1 Power Meme -Munten

2025-05-18

Cardano traders, is it time to rotate in the $ 0.78 dipzone from Ada? – Judgement …

2025-05-18

Chain link in the fog – a reversal of $ 15.85 can free the path

2025-05-18

The sale of Chainlink starts: will the retail trade hold the line this time?

2025-05-18
Add A Comment
Leave A Reply Cancel Reply

Top Posts

The tokenization of real assets?

2023-05-28

New York Bill suggests that people have state costs pay with Bitcoin and Crypto

2025-04-11

ATP Tennis Tour Unveils NFT Drop for Personalized 2023 Finals Posters

2023-11-02
Editors Picks

Ethereum Foundation renews leadership in the midst of market volatility

2025-03-02

Bitcoin: Will $67,000 Provide Support After BTC Whales Make Billions in Profits?

2024-10-27

ICP Coin is up 37% in the past seven days. Will the rally continue?

2023-12-21

JPMorgan Chase to pay $100,000,000 to customers as bank resolves wave of allegations from U.S. Securities and Exchange Commission

2024-11-01
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin -price could prepare for a new wave of volatility – this is why

Scalable L1 Power Meme -Munten

Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,527.612.49%
  • ethereumEthereum(ETH)$2,578.764.07%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.444.30%
  • binancecoinBNB(BNB)$653.782.00%
  • solanaSolana(SOL)$176.015.07%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2359009.57%
  • cardanoCardano(ADA)$0.772.88%
  • tronTRON(TRX)$0.2730100.71%
  • suiSui(SUI)$3.985.20%
  • chainlinkChainlink(LINK)$16.316.38%
  • avalanche-2Avalanche(AVAX)$23.755.54%
  • stellarStellar(XLM)$0.2967313.79%
  • hyperliquidHyperliquid(HYPE)$27.082.62%
  • shiba-inuShiba Inu(SHIB)$0.0000156.94%
  • hedera-hashgraphHedera(HBAR)$0.1994294.87%
  • bitcoin-cashBitcoin Cash(BCH)$406.734.02%
  • unus-sed-leoUNUS SED LEO(LEO)$8.71-2.99%
  • the-open-networkToncoin(TON)$3.173.34%
  • polkadotPolkadot(DOT)$4.904.98%
  • litecoinLitecoin(LTC)$101.674.13%
  • moneroMonero(XMR)$343.982.21%
  • bitget-tokenBitget Token(BGB)$5.256.23%
  • pepePepe(PEPE)$0.00001412.46%
  • piPi(PI)$0.759.03%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.318.16%
  • bittensorBittensor(TAO)$437.954.02%
  • aaveAave(AAVE)$241.097.93%
  • nearNEAR Protocol(NEAR)$2.937.93%
  • aptosAptos(APT)$5.303.37%
  • okbOKB(OKB)$53.741.47%
  • ondo-financeOndo(ONDO)$0.975.72%
  • kaspaKaspa(KAS)$0.1160273.17%
  • internet-computerInternet Computer(ICP)$5.434.71%
  • ethereum-classicEthereum Classic(ETC)$19.043.86%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.464.87%
  • crypto-com-chainCronos(CRO)$0.1007273.31%
  • gatechain-tokenGateToken(GT)$21.760.89%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2439865.08%
  • vechainVeChain(VET)$0.0293575.70%
  • mantleMantle(MNT)$0.751.81%
  • render-tokenRender(RENDER)$4.826.16%
  • ethenaEthena(ENA)$0.40378112.12%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • cosmosCosmos(ATOM)$5.107.02%
  • filecoinFilecoin(FIL)$2.966.13%
  • algorandAlgorand(ALGO)$0.2299666.02%
  • bitcoinBitcoin(BTC)$105,527.612.49%
  • ethereumEthereum(ETH)$2,578.764.07%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.444.30%
  • binancecoinBNB(BNB)$653.782.00%
  • solanaSolana(SOL)$176.015.07%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2359009.57%
  • cardanoCardano(ADA)$0.772.88%
  • tronTRON(TRX)$0.2730100.71%
  • suiSui(SUI)$3.985.20%
  • chainlinkChainlink(LINK)$16.316.38%
  • avalanche-2Avalanche(AVAX)$23.755.54%
  • stellarStellar(XLM)$0.2967313.79%
  • hyperliquidHyperliquid(HYPE)$27.082.62%
  • shiba-inuShiba Inu(SHIB)$0.0000156.94%
  • hedera-hashgraphHedera(HBAR)$0.1994294.87%
  • bitcoin-cashBitcoin Cash(BCH)$406.734.02%
  • unus-sed-leoUNUS SED LEO(LEO)$8.71-2.99%
  • the-open-networkToncoin(TON)$3.173.34%
  • polkadotPolkadot(DOT)$4.904.98%
  • litecoinLitecoin(LTC)$101.674.13%
  • moneroMonero(XMR)$343.982.21%
  • bitget-tokenBitget Token(BGB)$5.256.23%
  • pepePepe(PEPE)$0.00001412.46%
  • piPi(PI)$0.759.03%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.318.16%
  • bittensorBittensor(TAO)$437.954.02%
  • aaveAave(AAVE)$241.097.93%
  • nearNEAR Protocol(NEAR)$2.937.93%
  • aptosAptos(APT)$5.303.37%
  • okbOKB(OKB)$53.741.47%
  • ondo-financeOndo(ONDO)$0.975.72%
  • kaspaKaspa(KAS)$0.1160273.17%
  • internet-computerInternet Computer(ICP)$5.434.71%
  • ethereum-classicEthereum Classic(ETC)$19.043.86%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.464.87%
  • crypto-com-chainCronos(CRO)$0.1007273.31%
  • gatechain-tokenGateToken(GT)$21.760.89%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2439865.08%
  • vechainVeChain(VET)$0.0293575.70%
  • mantleMantle(MNT)$0.751.81%
  • render-tokenRender(RENDER)$4.826.16%
  • ethenaEthena(ENA)$0.40378112.12%
  • usd1World Liberty Financial USD(USD1)$1.000.03%
  • cosmosCosmos(ATOM)$5.107.02%
  • filecoinFilecoin(FIL)$2.966.13%
  • algorandAlgorand(ALGO)$0.2299666.02%