Gate Announcement Regarding the Terra Classic’s 1.2% Tax Proposal

According to the Terra Classic’s Proposal for the 1.2% Tax Parameter Change, on-chain transactions on the Terra Classic（including LUNC and USTC）may be charged a 1.2% tax starting on about September 12 or 19 by the Terra Rebels on official or unofficial wallets, depending on if the proposal is supported by the TFL before September 5 .
Gate supports the community's development proposal as always. We will implement the proposed on-chain burn on LUNC and USTC if the proposal is approved. As an exchange, the trading of LUNC and USTC are not on-chain activities and will not be charged the tax. If you want to avoid the potential on-chain tax on deposits, it is highly recommended that you should deposit LUNC and USTC on Gate before September 12.

Deposit USTC:
https://www.gate.io/myaccount/deposit/USTC
Deposit LUNC:
https://www.gate.io/myaccount/deposit/LUNC


Learn more about the proposal:
https://classic-agora.terra.money/t/proposal-for-the-1-2-tax-parameter-change/46319

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Gate Team
September 6,2022