Cryptocurrency exchange Binance has also performed the second of its announced weekly Lunc burning mechanism.
After the Terra crisis, many methods were put forward in order to eliminate the grievances of the investors. One of them and the most interesting was the burning mechanism initiated by the Binance exchange. The crypto exchange stated that it will burn 1.2 percent of its revenue from Lunc trading pairs with the burn mechanism announced on September 26. The second leg of the weekly burning mechanism took place.
Binance Continues to Burn Lunc
Binance, rushing to the aid of the Lunc community, continues its weekly burn mechanism. The exchange, which burned about 2 million dollars Lunc last week, completed its burning this week as well. In the second burning process, approximately 1 million dollars and 3 billion tokens were removed from circulation.
Continuing the 1.2% burn mechanism per week, the stock market also made its burn this week. LUNCDAO, the popular coin’s community validator, shared the burn news via social media. LUNCDAO thanked the cryptocurrency exchange for helping the community.
Although no update has been received by Binance yet, community members, especially those who examined the network records, were aware of my closeness. LunaBurnTracker, one of the community pages, is also among those who announce the burning.
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