This update will take place at epoch 15029, around 04:50 UTC on Saturday. During this period, deposits and withdrawals from USTC, LUNC and ANC will be disabled. Binance, the cryptocurrency exchange, today announced that it will make an upgrade to Terra Classic (LUC), a project from the defunct Terra ecosystem. This update is scheduled for this Saturday. The update will take place in epoch 15029, which is around 04:50 UTC on Saturday, when the people of Terra Classic have voted to implement the government plan 11242 to stop converting some of the LUNC tokens.
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Deposits and Withdrawals Are Important – Binance
Binance, which handles more than half of LUNC’s trading activity and provides monthly LUNC tokens to the Terra Classic community, says the update will take three hours. At this time, USTC, LUNC, and ANC deposits and withdrawals will be disabled and changed, but business will continue as usual.
In response to the reduction in the number of LUNC shows over the past four weeks, proposal 11242 was introduced at the beginning of the new year with the aim of stopping the return of LUNC from the fire and reducing the incentive for it. seigniorage. Free politics. More than two-thirds of network members supported the plan.
Before and after each season, 10% of LUNC tokens are returned through a 0.2% power tax and added to the community pool. A 0% seigniorage fee policy was approved, ending LUNC’s recovery.
Almost 90% of the voters supported the second part of the plan, which wants to increase the price of gas network by 500% to support the oracle pool of the city to raise wages.