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MEXC Will Support LUNC Upgrade and Burning of LUNC Spot Trading Fees

Sep 2, 2022

#Spot#Trading Fee

Dear Users,

To support the burn tax proposal from the Terra Classic (LUNC) community, MEXC will launch a time-limited burning event for spot trading fees of LUNC/USDT and LUNC/USDC.

Event Period: 2022-09-03 10:00 - 2022-09-17 10:00 (UTC)

Rules:

According to the proposal, the spot trading fee rate of LUNC/USDT and LUNC/USDC on MEXC will be adjusted to 1.2% during the event period.
MEXC will utilize the actual trading fee received from LUNC/USDT and LUNC/USDC spot trading pairs to proceed with secondary market buybacks on a daily basis.
Terra has officially provided an LUNC burn address. MEXC will make arrangements to send LUNC tokens obtained from the secondary buyback of LUNC to the official burn address specified on a daily basis.

Regarding Proposal: Proposal for the 1.2% Tax Parameter Change

Please note:

LUNC Burn Address provided by Terra official: https://finder.terra.money/columbus-5/address/terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
The actual trading fee collected is restricted to LUNC spot trading only, excluding ETF and Margin Trading. (MX Deduction and trading fee rebate will be excluded from the actual trading fee collected)
Please take note that MEXC did not generate the burn address and is not responsible for any fund movements made by the address after the end of the LUNC secondary buyback arrangement.
Once the proposal is officially approved and implemented, we will decide whether to extend the event based on feedback from MEXC users.
The maker fee for LUNC spot trading remains zero. Please refer to: MEXC Offers Zero Maker Fees for Spot Trading

Risk Reminders

Users are strongly advised to do their own research before participating. Nothing herein shall be construed as financial advice or recommendation to participate in the associated network. The price of the project token may fluctuate greatly due to market conditions and other factors. Withdrawal for the project token may be suspended (fully/partially) due to the token mechanism.

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Enjoy trading on MEXC.

The MEXC Team

3 September 2022

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