According to the announcement of the Terra team regarding the transaction fee (tax burn) of Luna Classic (LUNC or LUNA as appears on Bitkub Exchange) transactions on the Terra Classic Network (referred announcement of Terra), Bitkub Exchange hereby informs you of the following information for the benefit and the smoothest user experience of our customers.
Terra will charge an additional fee from all Luna Classic transactions on the Terra Classic Network at 1.2% of the transaction amount (after the deduction of a regular transaction fee of the Exchange, if any) starting on 21 September 2022 at block 9,475,200 (reference). The results from this change are as follows:
- For deposits: the credited amount of Luna Classic from other Exchanges to Bitkub Exchange will be the amount after the 1.2% tax burn deduction (apart from any other fees that other Exchanges may have).
- For withdrawals: Terra will charge an additional fee when the tokens are being transferred through the Terra Network to the receiving wallets at the rate of 1.2% of the withdrawal amount after the deduction of a regular transaction fee of Bitkub Exchange (check our withdrawal fees here).
However, this process on the Terra Classic Network does not affect your access to our services in any way. The deposit and withdrawal of Luna Classic as well as other services are still available as usual on Bitkub Exchange.
Remark: Besides, the company reserves the right in its sole discretion to amend or change these announcement details, and we will notify you further if there are any changes.
Updated (as of 20 October 2022):
The Terra team made an adjustment to the Luna Classic fee on the Terra Classic network from 1.2% to 0.2% effective from 20 October 2022 onwards (click here to read more details about fee adjustment).
Thank you for your trust in Bitkub Exchange.