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Binance to Burn Terra Luna Classic (LUNC) Spot and Margin Trading Fees
Binance, the world’s largest exchange by 24-hour trading volume, has announced that it will implement a burn mechanism that will result in the burning of all trading fees for Terra Luna Classic (LUNC) tokens.
According to a blog post today, the leading cryptocurrency exchange said the burn mechanism will be implemented on all trading fees for LUNC spots and margin trading pairs.
#Binance will implement a burn mechanism to burn all trading fees on $LUNC spot and margin trading pairs. https://t.co/Depz9nYDVO
— Binance (@binance) September 26, 2022
Going forward, all trading fees for LUNC spots and margin trading pairs will be sent to the token’s burn address created by the community.
The exchange said the LUNC burn program, which started on September 1, 2022, will run until further notice. Notably, the initiative is in response to the recent community burn proposal that was recently implemented.