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Binance To Support Terra Classic Network Upgrade to Bring Back 100% LUNC Fee Burn

Binance, the world’s largest exchange by 24-hour trading volume, has announced support for the upcoming Terra Classic network upgrade from its current v1.0.4 to v1.0.5.

According to an announcement today, the Terra Classic chain will be upgraded to v1.0.5 at block height 11.543.150, or approximately February 14. The industry’s largest exchange said the estimated time is only for users’ reference as there is a possibility that the upgrade could take place on or before the scheduled time.

Binance said it would handle the necessary technical requirements for the upgrade on behalf of LUNC holders on the platform, adding that users do not have to do anything. However, the exchange said it would halt LUNC deposits and withdrawals from block height 11.541.520 and reopen the services once the upgraded network is stable.

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