- Terra Classic Proposal #11515 gets support from Binance.
- The tax burn proposal ups the barrier for burning tax to 0.5%.
- Short price rally sets Terra Classic’s 24-hour high at $0.00009058.
The leading crypto exchange Binance announced full support for Terra Classic’s upgrade on 2023-05-23 at 22:00 (UTC). This Terra Luna Classic (LUNC) network upgrade marks the 150% increase in $LUNC tax burn to 0.5%, previously 0.2%.
According to the official statement, proposal #11515 will kick in at a Terra Classic block height of 12,902,400. The estimated time before deposits and withdrawals are temporarily suspended regarding LUNC and USTC via the LUNC network is half an hour before the upgrade.
Vigorous Comeback Efforts by LUNC Community
This comes just four days after KuCoin, the third largest crypto platform, also expressed support for the upcoming upgrade, which intends to decrease the supply of the…
