The calculation of total trading fees on LUNC spot and margin trading pairs to be burned from the previous month will be done on the first day of every month at 00:00:00 (UTC). On at 00:00:00 (UTC), the 15th batch of trading fees on LUNC spot and margin trading pairs to be burned will be calculated from at 00:00:00 (UTC) to at 23:59:59 (UTC). On at 00:00:00 (UTC), the 14th batch of trading fees on LUNC spot and margin trading pairs burned was calculated from at 00:00:00 (UTC) to at 23:59:59 (UTC). Rulesįrom December 2022, Binance will burn 50% of LUNC spot and margin trading fees and delay sending the LUNC trading fee burn contribution until. To allow time for these new updates to take place, Binance will delay sending LUNC trading fee burn contributions until (UTC).īinance will continue to work with the community to support the implementation of this new plan, and if for any reason this can’t be done, Binance will consider withdrawing the burn contribution going forward.įunding for New Projects Also in November 2022, Binance announced the Industry Recovery Initiative (IRI), which is a fund to support crypto and Web3 projects.įor developers wanting to continue to build the LUNC chain with support, they are welcome to apply here. To whitelist Binance’s wallets ( See Appendix ), so that the transaction tax is not applied when transferring between these wallets. To create a new burn wallet that Binance can send the LUNC spot and margin trading fees to that does not allow re-minting of the burn amount. Validity Period : 00:00:00 (UTC) until further notice.In addition, Binance has been engaging with the leadership team from the Terra Grants Foundation with the below requests: From December 2022, Binance will be burning 50% of the LUNC spot and margin trading fees instead of 100%, and delaying sending the LUNC trading fee burn contribution until, to ensure LUNC trading fees will be excluded from being re-minted. įollowing the recent developments as laid out in Proposal 10983 and Proposal 11111, where LUNC burn is being re-minted as a development fund, Binance will be making changes to the burning of LUNC trading fees, to continue to contribute to the supply decrease of LUNC and be in line with what the community originally looked forward to. * Update: This announcement was last updated on to reflect the latest burn records.
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