Does Binance burn Lunc?

Binance burns $1.7 billion worth of LUNC. Most crypto traders were underwhelmed by this number. The next burn date is Monday, Oct. 10, 2022. LUNC burn: Binance announced its first weekly Terra Luna Classic LUNC burn in spot and margin trading pair fees, totaling $1.70 million.

What is Lunc burn & how does it work?

The Binance LUNA burn announcement introduced revealed the LUNC burn mechanism to improve the trading experience after a proposal from the Terra LUNA Classic community. According to Binance, all LUNC coin burns will not affect LUNC spot and margin trading fees. The exchange caps trading fee rates at 0.1%.

When is Binance's next burn date?

The next burn date is Monday, Oct. 10, 2022. LUNC burn: Binance announced its first weekly Terra Luna Classic LUNC burn in spot and margin trading pair fees, totaling $1.70 million. This batch of fees came from trades between Sep. 21, 2022, and Oct. 1, 2022, according to a recent announcement by the exchange.

Did Binance burn Terra classic (Lunc) token trading fees?

Binance, the world’s top crypto exchange, has completed the first burn of Terra Classic (LUNC) token trading fees. This is in response to a September suggestion from the community. According to a recent notice by the exchange, this batch of fees pertains to transactions that occurred between September 21, 2022, and October 1, 2022.