Transaction Fee (Tax Burn) Change of Terra Classic Network for Luna Classic Withdrawals from 0.2% to 0.5% of Transaction Amount

Modified on Thu, 25 May 2023 at 05:00 PM

According to the announcement of the Terra team regarding the transaction fee (tax burn) of Luna Classic (LUNA) withdrawals on the Terra Classic Network, Bitkub Exchange hereby informs you of the following information for the benefit and the smoothest user experience of our customers.

Terra Classic community has agreed to change the tax burn rate for withdrawals of Luna Classic on the Terra Classic Network from 0.2% to 0.5% of the transaction amount (after the deduction of a regular transaction fee of the Exchange), and the proposal (Proposal 11515) has been approved and effective, starting at block 12,902,399 onwards (check the announcement from Terra here).

For withdrawals: Terra will charge an additional fee when the tokens are being transferred through the Terra Classic Network to the receiving wallets at the rate of 0.5% of the withdrawal amount after the deduction of a regular transaction fee of Bitkub Exchange (check our withdrawal fees here).

For deposits: The credited amount of Luna Classic from other Exchanges to Bitkub Exchange will be the amount after the exchange fee and tax burn are deducted. Please check the withdrawal amount in the sender’s wallet system before confirming to deposit to Bitkub Exchange.

Remark: The company reserves the right in its sole discretion to amend or change these announcement details, and we will consider releasing further announcements if there are any changes.

Thank you for your continued support for Bitkub Exchange.

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