According to the latest proposals 3568 and 4159 passed by the Terra community, it will introduce a 1.2% transaction tax burning mechanism for all token types available on the Terra Classic network, including LUNC tokens, that is, transaction taxes will be charged from the current 0 % changed to 1.2%. The tax burning mechanism is expected to go live at 6:00 (UTC+8) on September 22, 2022 (Terra Classic network block height 9,475,200 hours).
After the tax burning mechanism takes effect, when depositing and withdrawing LUNC tokens on Bibox:
Deposit: 1.2% tax will be charged by Terra Classic network before successfully reaching the Bibox account, and the balance will be credited to the Bibox account.
Withdrawal: Due to the new tax burning mechanism of LUNC, Bibox will deduct an additional 1.2% tax on the withdrawal network.
There are huge risks in digital asset transactions. Please purchase with caution and pay attention to transaction risks. Bibox will select high-quality currencies, but will not assume any responsibility for guarantees, compensation, etc. for any of your transactions.
If you have any questions, you are welcome to contact us at any time (7*24) through the following methods.Wish you a happy transaction!
- Official Website: https://www.bibox.com
- Online Customer Service: Go to consult
- Official Email: [email protected] or Submit a ticket
- Official English Telegram: https://t.me/BiboxExchangeEnglish
Bibox will continue to improve user trading experience and provide you with better services.