The way @binance and @cz_binance "support" the burn tax on-chain is not fair. It is a nasty strategic move.
1/
You are not charged deposit fees (of course you will be taxed on your side on deposit), but they charge a fixed(!) fee on withdrawal of 102,000 #LUNC …
1/
You are not charged deposit fees (of course you will be taxed on your side on deposit), but they charge a fixed(!) fee on withdrawal of 102,000 #LUNC …
2/
The minimum withdrawal amount is 204,000 #LUNC.
So that means small wallets in fact are kind of held hostage. Who can afford paying 10% fees of the sent amount on 1M? Who will pay 50% of the wallet holdings if he owns only 200k?
On the other side you only pay …
The minimum withdrawal amount is 204,000 #LUNC.
So that means small wallets in fact are kind of held hostage. Who can afford paying 10% fees of the sent amount on 1M? Who will pay 50% of the wallet holdings if he owns only 200k?
On the other side you only pay …
3/
… less than the real tax when withdrawing > 8.5M LUNC. This clearly benefits big holders and kind of screws the small holders.
The support team suggested to change coins to different currencies to move them away from @binance. Really? Do you even know what you are saying?
… less than the real tax when withdrawing > 8.5M LUNC. This clearly benefits big holders and kind of screws the small holders.
The support team suggested to change coins to different currencies to move them away from @binance. Really? Do you even know what you are saying?
4/
I thought it was a nice move letting users opt-in for off-chain tax, because it will show if the community really is willing to back their request for it.
But with the way the on-chain tax is handled, I cannot suggest anyone to support Binance at all. Sure, they …
I thought it was a nice move letting users opt-in for off-chain tax, because it will show if the community really is willing to back their request for it.
But with the way the on-chain tax is handled, I cannot suggest anyone to support Binance at all. Sure, they …
5/
… have to deal with the tax. Because every movement of coins in their internal wallets costs 1.2%. But this is not a fair way to do it. Sorry. It really isn't.
#LUNCCcommunity #LUNCPenguins
… have to deal with the tax. Because every movement of coins in their internal wallets costs 1.2%. But this is not a fair way to do it. Sorry. It really isn't.
#LUNCCcommunity #LUNCPenguins
I just was made aware of a discord post by Ed. It says Binance developers might have misunderstood something about the gas fees on the system and this led to the fee. Which still is very strange. Hopefully we will get clarification from @binance soon.
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