12175 | Add Additional Binance Wallets to BurnTax Exemption
Source from:
- https://validator.info/terra-classic/governance/12175
- https://common.xyz/terra-luna-classic-lunc/discussion/1237431-add-3-additional-binance-wallets-to-the-burn-tax-whitelist
Voting Options: ✅ YES / ❌ NO / ➖ ABSTAIN / 🚫 NO WITH VETO
Summary
This proposal seeks community approval to add three new Binance-controlled wallets to the burn tax whitelist. This change would exempt these wallets from the current 0.5% on-chain tax during internal transfers, allowing Binance to operate more efficiently while continuing its monthly LUNC burn contributions.
Background
Binance has been a consistent and valuable supporter of the Terra Classic ecosystem. Through their monthly burn mechanism, Binance contributes 50% of all trading fees from LUNC spot pairs directly to the official burn address, helping reduce the circulating/total supply and support the burn narrative.
In recognition of this effort, the Terra Classic community has previously voted to whitelist a number of Binance-controlled wallets from the on-chain tax when used for internal operational transfers (i.e., movements between Binance-owned wallets that are not user deposits/withdrawals).
📢 Binance is now requesting to add three more internal wallets to this whitelist:
terra1zphegzz94l3mr9w56yq6845wfcfllmrdn8xzycterra15qvs2dzzydqt4ygfn0k0ertjnv8ctytggnx4ezterra1sepf0spaj969m59cgj3w3ch5udgf25qsx9cl2h
🔗 Binance’s previous announcement detailing their burn mechanism and tax exemption policy can be found here: 👉 Binance Announcement – LUNC Tax and Wallet Exemptions
Justification
- ✅ Binance is one of the largest contributor to LUNC burns, supporting the community and tokenomics.
- ⚙️ Allowing internal transfers without taxation is consistent with previous governance actions and ensures efficiency.
- 🧾 Internal wallet transfers are not economic transactions, and taxing them would be counterproductive.
- 📝 Binance has maintained transparency with the community on this topic.
Proposal Details
Update the burn tax exemption whitelist to include the following Binance-controlled wallets:
terra1zphegzz94l3mr9w56yq6845wfcfllmrdn8xzycterra15qvs2dzzydqt4ygfn0k0ertjnv8ctytggnx4ezterra1sepf0spaj969m59cgj3w3ch5udgf25qsx9cl2h
No other tax parameters or exemptions are being modified as part of this proposal.
📂 Pull Request for implementation: 👉 https://github.com/classic-terra/core/pull/560/files https://station.hexxagon.io/proposal/columbus-5/12175
Conclusion
Binance has played a key role in the ongoing revitalization of the Terra Classic chain by burning large amounts of LUNC every month. This proposal reflects a reasonable and fair continuation of that partnership by allowing Binance to manage its internal operations more effectively without compromising burn contributions.
✅ Please consider voting YES to support Binance’s operational request and encourage their continued engagement with Terra Classic.
