Update on Deposit and Withdrawal Fees for LUNC and USTC on Terra Classic (LUNC) Network (2022-09-27)

Fellow Binancians,
Following feedback from our community, Binance will change the way we credit LUNC and USTC deposits and charge withdrawals for the Terra Classic Network.
Deposits:

• LUNC and USTC deposits to Binance are subject to the withdrawal fees charged by other exchanges or platforms, where applicable.
• Binance will apply a 1.2% consolidation fee for all deposits received by Binance before crediting to users’ accounts due to the 1.2% tax burn implemented on LUNC and USTC transactions on the Terra Classic network.

Withdrawals:

• Users will receive the withdrawal amount minus withdrawal fees charged by Binance and the 1.2% tax burn.

For More Information:

• Update on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
• Notice on Tax Burn for LUNC and USTC on Terra Classic (LUNC) Network
• Proposal 3568
• Proposal 4159

Source