LUNC burn on the Terra Classic network is gaining momentum as the number of top exchanges showing support and implementing the 1.2% LUNC tax burn on all on-chain and off-chain transactions are increasing by the day.
CetoEX exchange is set to join the list of exchanges where the Terra Classic community can buy and sell the LUNC token. It’s also ready to activate the 1.2% tax burn on all LUNC trading activities (spots and margin), withdrawals, and deposits.
The popular crypto marketplace with a wide user base disclosed its plan to support the Terra Classic community revival plan following the collapse of the project earlier in May 2022. Per the Twitter update shared on Wednesday, CetoEx exchange noted that it will list LUNC, the native token of the Terra Classic blockchain, stating that LUNC trading will commence on October 10 at 12 am UTC.
Alongside the listing of LUNC, the top exchange disclosed that it will support the LUNC burn movement which is a top priority for the Terra Classic community. CetoEx exchange wrote that it will implement the 1.2% LUNC tax burn on both on-chain and off-chain LUNC transactions.
“Thrilled to announce Terra Classic (LUNC) listing soon on Cetoex. LUNC going to the moon. Terra Classic (LUNC) Burn Mechanism on Trading on-chain & off chain burn. Get ready to trade on the world leading crypto trading platform,” Cetoex tweeted.
🔥Thrilled to announce Terra Classic (LUNC) listing soon on @Cetoex#LUNC going to 🚀🚀💎
Terra Classic (LUNC) Burn Mechanism on Trading on-chain & off chain burn🔥🔥
👉Get ready to trade on world leading #crypto trading platform#LUNC #LUNCARMY #Lunccommunity pic.twitter.com/blV3XplJkp
— CetoEX (@Cetoex) October 5, 2022
As expected, this development excited the determined Terra Classic community as they keep hoping that major exchanges like Coinbase will list LUNC in order to join the burn initiative.
With more exchanges supporting this Terra Classic burn mechanism, the goal of reducing LUNC circulating supply to 10 billion tokens will be achieved faster than envisaged.
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