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HomeCrypto NewsNew Proposal Introduced For Exchanges By Terra Classic (LUNC) As They implement...

New Proposal Introduced For Exchanges By Terra Classic (LUNC) As They implement Burns On Trading

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The LUNC community has started a new proposal and is demanding that spot trading and other off-chain activities be covered by central exchanges (CEXes). Although a number of exchanges have stated their support for the idea, there seems to be conflicting information because the majority only want to apply it to deposits and withdrawals. Notably, Kucion exchange hinted that it would not implement the request for off-chain transactions in an AMA on Thursday.

Related also: New Terra USD (UST) Validator Set To Launch, Will Transfer 10% Commissions To UST Victims While Also Supporting All Burning Proposals

The community does think that off-chain activity should be encouraged by central exchanges in their support of the 1.2% tax burn proposal. It is important to note that these CEXes host the majority of LUNC activity. As a result, adopting the proposal on off-chain transactions will significantly increase its effectiveness in reducing the supply of extra LUNC. Notably, the community intends to discuss the tax burn during an AMA with Binance that will take place in less than a week.

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