[//]:content-type-MARKDOWN-DONOT-DELETE According to the Terra Classic Proposal 11515, the burn tax on LUNC and USTC on-chain transactions is going to increase from 0.2% to 0.5% starting approximate 23 May, 10: 00 PM UTC. Gate.io will implement the proposed new 0.5% tax on LUNC and USTC deposits and withdrawals when the on-chain parameter changes go live. Below are more details: 1) Gate.io will implement an extra 0.5% tax on LUNC and USTC deposits as the sweep fee. LUNC and USTC deposits will be credited after deducting the 0.5% sweep fee as well as the 0.5% tax charged by the Terra Classic protocol before they reach Gate.io user deposit address. Why do we charge the sweep fee？ When users are depositing LUNC and USTC tokens, they are sending their tokens to their own deposit addresses on Gate.io. But this is not the entire deposit procedure for the tokens. Those tokens in users' deposit addresses will then be swept into Gate.io hot wallet. This sweep transaction is an on-chain transaction as well and will be charged another 0.5% tax by the Terra Classic protocol. 2) Gate.io will implement a 0.5% tax on LUNC and USTC withdrawal besides the network gas fee. The 0.5% tax will cover the 0.5% tax charged by the protocol. So that your LUNC and USTC withdrawal will arrive at the destination address with the net amount after deducting the 0.5% tax and the network gas fee. 3) The trading of LUNC and USTC are not on-chain activities and will not be charged the tax. Deposit USTC: https://www.gate.io/myaccount/deposit/USTC Deposit LUNC: https://www.gate.io/myaccount/deposit/LUNC Learn more about the proposal: https://station.terrarebels.net/proposal/11515 Gateway to Crypto Trade over 1,400 cryptocurrencies safely, quickly and easily on Gate.io [Sign up] to enter the crypto gateway and get 40% commission from [referrals] [Download iOS/Android App] right now. Reach out to us! Twitter: https://twitter.com/gate_io GateVIP Twitter:https://twitter.com/Gateio_Inst Telegram: https://t.me/gate_zh API Telegram: https://t.me/gateioapi Instagram: https://www.instagram.com/gateioglobal Medium: https://gateio.medium.com/ Podcast: https://gateio.buzzsprout.com/？ch=buzzs Gate.io Team May 18, 2023