James Atkins
Editor
Editor
MEXC Global began a LUNC recovery plan three months ago and has been buying back LUNC and burning it ever since. Resulting in the most gains for LUNC since the TerraUSD stablecoin crisis that resulted in the creation of the Terra Luna fork.
MEXC has pledged to support the Terra Luna Classic community by voting in favor of the 1.2 percent burn proposal.
To show its support, MEXC is holding a time-limited event in which users can trade LUNC/USDC and LUNC/USDT at a reduced fee. The event will last from September 3, 10:00 to September 17, 10:00 UTC, when the 1.2 per cent tax burn plan is expected to be unveiled.
MEXC is now the first centralized exchange to support LUNC’s upgrade and burning proposal, currently ranking second in LUNC burning.
With this initiative, the trading fees MEXC receives will be used to buy back LUNC tokens from the secondary market daily. These bought-back tokens will then be sent by MEXC to Terra’s official burn address.
The move will help support LUNC’s price stabilization mechanism while also providing users with an opportunity to get their trading fees back.
The event will be conducted in two parts, with the first part covering the burning of spot trading fees. And the second part covers the burning of margin trading fees.
In the first part, MEXC will buy back and burn LUNC tokens worth 50% of the spot trading fees it collects every day. This will be done daily until further notice.
MEXC, as a major cryptocurrency exchange, provides spot trading, ETFs, crypto futures, staking and NFTs among other crypto-specific services. It has over 7 million customers in more than 140 countries and supports over 1,400 cryptocurrencies.
During the current bear market, MEXC Global provides no costs for all spot trading. It has also committed to supporting Ethereum’s transition to a Proof-of-Stake system, as well as any required hard forks.
Among several other incentive programs, the crypto exchange launched Grid Trading and Trade Mining as part of its service to its clients. MEXC also became the first major crypto exchange to offer NFT staking, thereby supporting the burgeoning NFT industry.
With its cutting-edge technology, user-friendly interface and dedication to providing the best possible service. MEXC has established itself as a leading cryptocurrency exchange. It is one of the few exchanges that offer 24/7 live customer support in multiple languages.
MEXC is a leading cryptocurrency exchange with a strong focus on providing the best possible user experience.
The exchange offers a wide range of features, including 24/7 live customer support, advanced trading features, and a user-friendly interface. MEXC also offers a variety of incentive products, such as Grid Trading and Trade Mining, to its users.
MEXC was founded in 2018 by Hao Zhang, a serial entrepreneur with over 15 years of experience in the internet and tech industries.
The company is headquartered in Singapore and has offices in Shanghai, Beijing, Hong Kong and Seoul. MEXC is backed by leading venture capital firms, such as ZhenFund, Sequoia Capital China and Gobi Ventures.
MEXC is a great option for those looking for a reliable and user-friendly cryptocurrency exchange. The platform offers a wide range of features and is constantly innovating to bring more value to its users.
MEXC has a strong team with a proven track record in the tech and internet industries. The company is also well-funded, with backing from leading venture capital firms.
If you’re looking for a cryptocurrency exchange that offers a great user experience, competitive fees and a wide range of features, MEXC is worth considering.
I have been writing copy for blockchain-related projects since 2017. I understand the importance of being able to communicate clearly and effectively with both technical and non-technical audiences. By leveraging my understanding of the crypto industry trends, I can help increase adoption in this rapidly evolving landscape.
