The collapse of the Terra ecosystem led to the collapse of TerraUSD (UST) and LUNA Still causing problems for investors who are worried. As the co-founder Do Kwon, crypto exchanges and communitiesWorking together to find the best solution for a sustainable coin price recovery
latest Changpeng Zhao or ‘CZ’ CEO of Binance The world’s number 1 crypto exchange has introduced a 1.2% fixed trading fee for LUNC trading that can help burn to reduce the total supply of coins and improve price action. To chat with the CZ community saythat:
“We will be adding options (on Binance exchange) so that people can choose to pay a 1.2% fee for their LUNC trades.”
However, Binance will begin collecting taxes for traders who opt in according to the 25% consensus of investors in LUNC to ensure that those who use it first. “Not a small amount to pay an extra 1.2%.”
This 1.2% fee will be applied for all LUNC trades following the opt-in has reached 50% of all LUNC volumes on the exchange.
I answered the question regarding LUNC in my Twitter Space AMA just now.
Another option is to implement a feature to let users opt-in for a 1.2% trading fee themselves for burn. And see how many of the voting community do that first. Vote with your fees.
Recommendations from the LUNA community split into several voices as some supported CZ’s decision to increase options. while some have interpreted it as a market manipulation by centralized entities.
CZ supports the burning of LUNC, but also believes in the community vote. This allows traders on the platform to draw conclusions, he added: “We listen and protect our users.” However, CZ knows that unless changes are implemented across all exchanges and the network, LUNC traders will want coins to other exchanges where coins are not burned.
On the other hand, South Korean authorities are now targeting Do Kwon following an arrest warrant has been issued. Of course, he is now missing in the clouds and has not been found.
