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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