Attention! Binance and Terra Classic (LUNC) Meet! Critical Date Announced!

The Terra Classic community continues to use every means possible to push the LUNC price to new heights. In this process, September 22 is critical.

YouTube: Binance and the LUNC Community Meet!

The Terra Classic community has been approved these days for 1.2% tax/burnout support from many exchanges. Lots of good news lately LUNC Burn announced in a tweet yesterday that it will be holding an 'Ask What You Want' event on September 22 with the Binance team on YouTube. In the statement, it was stated that in addition to executives from Binance, there will be important people from the crypto money industry. The session will start at 16.00 Turkish time. The session will be hosted by the YouTube channel Chjango Unchained. One of the key issues expected to be addressed is whether Binance will open IBC to Interchain. IBC stands for Inter Blockchain Communication.

IBC is a protocol created by Cosmos to allow independent blockchains to transfer data or value. It's worth mentioning that Terra Classic, as a Cosmos chain, used IBC, but disabled it during the Terra USD (USTC) crisis in May that lowered the price of LUNC ; However, community member Max Callisto has prepared a proposal to reactivate the protocol on the Terra Classic chain to help restore lost liquidity and revive decentralized finance (DeFi) activity.

What will be the focal point of the session?

While the session will be titled IBC and LUNC, the comments below LUNC Burn's tweet indicate that community members will be interested in the Binance team's views on the implementation of the 1.2% tax rate recommendation on LUNC transactions. In particular, Terra Classic community members expressed their dissatisfaction with how Binance plans to implement the 1.2% tax parameter change. Like Gate.io, Binance also announced that the 1.2% tax rate will only apply to deposits and withdrawals, while the community also wants spot trading activities to be taxed. As a result, Binance has announced that it will review its implementation plan.

Attention! Binance and Terra Classic (LUNC) Meet! Critical Date Announced!

The LUNC 1.2% tax rate burn proposal has become a hot topic for this month. While Uyguama increased the volatility in the LUNC price, it took its place in the headlines such as Merge and the Vasil Hard Fork. In practice, all on-chain LUNC transactions will be subject to a 1.2% tax to reduce the LUNC supply. The tax parameter change is expected to be released on September 20. It's worth mentioning that Binance hosts the largest LUNC trading activity by volume, and imposing a tax rate on spot trading activities would be a huge win for the community.