THE:Terra Luna Classic (LUNA) and TerraUSD (TERRAUST) Deposits and Withdrawals reopened as Bitfinex supports Tax Burn mechanism_Terra

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WearepleasedtoannouncethatTerraLunaClassic(LUNA)andTerraUSD(TERRAUST)depositsandwithdrawalshaveresumedonBitfinex.?

Withtheapprovalofproposals3568and4195,theTerracommunityinitiallyintroduceda1.2percentTaxBurnforallon-chaintransactionsontheTerraClassicNetwork.TheTaxBurnwasthenloweredto0.2percentaftertheapprovalofproposal5234,settingaside10percentofthecollectedtaxrevenuetofinanceTerraClassicecosysteminfrastructureandcontributors.BitfinexissupportiveoftheTaxBurnmechanism.?

TheTaxBurnmechanismaimstoaddressLunaClassic’ssupplyconcernsandtoreducethenumberoftokenstoafixedsupplyof10BillionLunaClassic.?

The0.2percenttaxwillbedeductedbytheTerraClassicnetwork.AsaresultdepositsandwithdrawalswillbehandledonBitfinexasperthefollowing:

Deposits:YourbalancewillbecreditedtoyourBitfinexaccountafterthe0.2%taxdeductionWithdrawals:Yourbalancewillbecreditedtoyourexternalwalletafterthe0.2%taxdeductionAfterimplementation,theTerracommunitywillreassesstheon-chaintaxdependingonhowtheecosystemhaschanged.

PleasenotethatthereisnoTaxBurnappliedtotradingonBitfinex.

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THE:Terra Luna Classic (LUNA) and TerraUSD (TERRAUST) Deposits and Withdrawals reopened as Bitfinex supports Tax Burn mechanism_Terra

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