tax 1.2% on trade???
In my POV, Binance been taking the right decision. By taxing deposit and withdrawals, people will tend to stake their coins. Moreover, whales who buy LUNC will make the burn bigger, and even bigger once they withdraw it. I think that is a strategic decision made by CZ. Also, Binance are free to revise their decision if this ain't progressing well. So chill.
That wouldn't do much of anything because CZ owns majority of LUNC anyhow so we pretty much buying from him so he is Win Win.
If Binance do not apply the burn tax, no whales /traders/ holders moving LUNC between exchanges. And that way no any coins be burned. Binance only want to protect its current profits and ignore all investors's profits. They are selfish and they will lost much more.
Nah you should boycott Binance because you support real decentralized tech and communities over exploitative CEOs.
Well since Binance is the biggest exchange in the world rn, it is their right to do so. If Terra Station didn't promotoe high yield in terms of staking, me myself won't put my LUNC on it. But I'm pretty much sure that decision will affect LUNC holders in Binance to stake.
So who pays the tax, The person withdrawing or the exchanges?
Withdrawals and Deposits
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