Dear CoinEx users,
According to Proposal 5234 passed by the LUNC community, the tax burn for on-chain transactions on Terra Classic will be reduced from 1.2% to 0.2%, which is expected to go live at epoch 98 (approximately at 12:50 on Oct 19, 2022, UTC). The details are as follows.
Tokens Adopting the Tax Burn
LUNC, USTC
Service Changes
1. Deposit
When depositing the above tokens to CoinEx, 0.2% tax fee will be collected by the Terra Classic Network before your deposit is credited to CoinEx. Meanwhile, to cover the normalized cost, an additional 0.2% tax fee will be charged after your deposit is credited to CoinEx. Therefore, your actual credited amount will be 99.6% of your depositing amount.
2. Withdrawal
When withdrawing the above tokens from CoinEx, the withdrawal fee will be charged by CoinEx, and then a 0.2% tax fee will be collected by the Terra Classic Network.
For More Info
CoinEx Will Support the Terra Classic(LUNC) 1.2% Tax Burn Mechanism
Proposal 5234
Risk Reminder
Crypto products are innovative investment products with large price fluctuations as well as high investment risks. Therefore, please evaluate and invest wisely based on your risk tolerance and financial resources.
CoinEx reserves the right in its sole discretion to amend, change or cancel this announcement at any time and for any reason without prior notice.
CoinEx Team
Oct 19, 2022