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CZ’s Take on LUNC and Luna Crisis
September 26, 2022
MINS
Opt-in option for Binance users on implementing burn tax on LUNC transactions.
Recently, Changpeng Zhao, aka CZ, the CEO of Binance was asked on Twitter about how Binance is going to support the LUNC burn of 1.2% for every trade on Binance.
CZ’s take on LUNC
CZ began by saying that as a business they (Binance) would not even consider “implementing something that isn’t done on the protocol level first.”
Then, he listed the following things that Binance would follow:
1. Implementing an opt-in button, for people to opt-in to pay a 1.2% tax for their LUNC trading.
2. When opt-in accounts reach a holding of 25% of the total LUNC held on Binance, they will start to charge 1.2% tax for all opt-in traders when they trade LUNC.
3. When the opt-in traders reach 50% of the total LUNC trading volume on Binance, Binance will roll out the 1.2% trading tax for all LUNC trading.
I answered the question about LUNC in my Twitter Space AMA just now.
— CZ 🔶 Binance (@cz_binance) September 23, 2022
Another option is to implement a feature to let users opt-in for a 1.2% trading fee themselves for burn. And see how many of the voting community do that first. Vote with your fees.
Explaining further, CZ said that almost everyone would want all the platforms and chains to burn 1.2% at every transaction and things change when it affects the balance, Until the time almost every centralized exchange implements this, things will not work out, he added.
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Digital Asset Infrastructure Provider Taurus Partners with Polygon: Revolutionizing Decentralized Finance?
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June 2, 2023
This partnership aims to enhance Taurus' capabilities by incorporating staking and decentralized finance (DeFi) support into its offerings.
Taurus Embrace Polygon Blockchain
Taurus, a leading provider of digital asset infrastructure backed by Credit Suisse and Deutsche Bank, has partnered with Polygon to provide staking and decentralized finance (DeFi) support to its capabilities.
Taurus offers a range of services, including custody, tokenization, and trading of digital assets. Taurus recently secured $65 million in funding through a round led by Credit Suisse and Deutsche Bank in February, highlighting the growing interest from traditional financial institutions in blockchain technology and tokenization.
Tokenization, the process of representing an asset as tradable units in a digital format, is increasingly drawing the attention of mainstream financial institutions.
Taurus emphasized that most Tier 1 financial institutions are entering the tokenization space and seeking a blockchain-agnostic and token-agnostic infrastructure. Additionally, Bank of America published a report last April stating that the tokenized gold market had surpassed $1 billion the previous month.
Polygon aims to evolve into an "internet of blockchains," connecting various Ethereum-compatible networks while continuing to enhance transaction efficiency and speed.
As blockchain technology adoption accelerates, collaborations between established major institutions and Polygon continues. In addition to the recent collaboration Polygon has also partnered with Franklin Templeton, Google Cloud, and Deutsche Telekom in recent months.
Polygon ($MATIC) is trading at $0.9, up 0.4% in 24 hours, according to CoinMarketCap.
What is Polygon:
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
For more about Polygon:
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Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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