Thread by @TMMcryptos

A VERY IMPORTANT THREAD ON THE #BINANCE LUNC BURN UPDATE!🔥🚨 1/6

Please Share to Prevent FUD & Misinformation!

#1: Binance is NOT ending #LUNC support regarding burns.

- Binance is changing their burn from spot and margin fees from 100% to 50% starting now and the

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next burn will occur on March 1st, 2023. Binance is reducing their burn % to prevent their voluntary burns from being reminted. As we saw with TRs recent actions, this makes sense from a business prospective.

To prevent their burns from being reminted, Binance is currently-

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-in talks with the Terra Grants Foundation to create a burn wallet that prevents any reminting of sent funds. The reason they are delaying a 100% burn for at least 3 months is to give LUNC time to pass important proposals to keep their support.

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We currently have proposal 11111 passed to reduce remints from 50% to 10% and now the most recent agora proposal posted by @edk208 to stop all remints be setting the RewardPolicy to 0.0 and to fund the CP with 50% of the 0.2% burn tax.

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These important proposals are crucial as Binance said they will continue to support the community otherwise they will consider to withdrawal future burn contributions.

I feel that us as a community must continue to help each other and Binance is continuing with offering

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support for future LUNC builders and you can apply with their announcement link. Hope this clears up any confusion being spread around! - TMM

#LunaClassicCommunity #LUNACLASSIC