eToro Team
📢 NOTICE REGARDING THE $LUNC AND USTC TAX BURN Today, September 20th, there will be a network upgrade on Terra Classic -LUNC. In order to create a fixed supply of 10 billion $LUNC for every on-chain transaction, LUNC is implementing a tax of 1.2% (AKA a taxation burn), which it is requesting to be implemented across all exchanges. This tax and burn mechanism will continue until a fixed supply of 10 billion LUNC is reached. Once the supply of LUNC is fixed at 10 billion, the mechanism will be disabled. ➡ What does this mean for you? The tax and burn mechanism affects the operating costs associated with our offering of LUNC. As such, as of Sept 20, an operational fee of 0.6% will be added to eToro’s bid and ask prices for LUNC, on top of the standard 1% fee that is calculated when buying or selling cryptoassets on eToro. Example below: LUNC-USD Pre-tax event ⬇ BID ➡ 0.00028229 ASK ➡ 0.00028393 SPREAD ➡ 0.58% LUNC-USD + tax event ⬇ BID ➡ 0.00028060 ASK ➡ 0.00028563 SPREAD ➡ 1.76% Thank you, The eToroTeam ⚠ Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. The value of your investments may go up or down. Your capital is at risk. Cryptoassets are unregulated and highly speculative. No consumer protection. Tax on profits may apply. See our responsible trading policy:
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