📢 NOTICE REGARDING THE lunc and ustc TAX BURN on

Question

📢 NOTICE REGARDING THE lunc and ustc TAX BURN on

Etoro

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