Binance CEO Changpeng Zhao (CZ) rejected Terra community’s 1.2% tax burn in the Ask Me Anything (AMA) session on September 23, Friday. In other words, Binance will not support the tax burn mechanism for on-chain activities, including spot and margin trades and earning services. As a consequence, LUNC price has dropped about 8.64% in 24 hours to $0.00025 at the time of writing.
In contrast, MEXC will continue to support Terra community by launching an inclusive Tax Burn Initiative Campaign. Users that join MEXC through the campaign page during the event period and engage in trading will contribute to additional burn. In addition, to reward LUNC supporters and MEXCers, users who sign up for MEXC using the referral link from campaign page will receive a 10% discount when trading on MEXC.
MEXC Initiatives
- MEXC will promote this project by adding $20 worth of LUNC to the burning pool for each qualified user whose net deposit amount throughout the campaign period is greater than $500, and spot trading volume exceeds 2,000 USDT or futures trading volume exceeds 10,000 USDT.
- MEXC will add an additional $1,000 worth of LUNC to the burning pool for every 50 qualified users that meet the aforementioned requirements.
MEXC is with the Terra community. Join this campaign to make LUNC great again! Please refer to the Tax Burn Initiative Campaign and Update on Tax Burn for LUNC for more information. To continuously support the Terra community and its new burning mechanism, you are more than welcome to trade LUNC (LUNC/USDT – Trade it here) on MEXC with low futures trading fees!
Join MEXC and Start Trading Today!
