Notes from Y5 Finance Core team:
Luna Classic Listing with 1.2% Burn
Every buy and sell transaction of LUNC made on the Y5 CEX platform (launching on Monday July 25th) will be taxed 1.2%, which will be wholly sent to the LUNC Burn wallet (proof provided).
Without a successful burn system, the token is beyond any chance of a revival. This process will inevitably be replicated by other exchanges in the industry and there are also plans for this to happen ‘on-chain’ – implementation at this early stage demonstrates our ability to compete with the front runners of the industry.
Motive for implementing:
-Aligns with our aspirations to ‘clean-up’ the crypto industry -Supports a completely demoralised community -The volatility of the asset still allows for the token to be traded profitably despite the tax. Since the start of June the token has an average low-to-high weekly trading range of c.98%.
Y5 Finance was launched in January 2022, currently has two tokens (the Y5 Wealth Token and the Y5 Trader Token) and will be the first regulated CEX to support tokenomics.
Coingecko link for Y5TT:
Coingecko link for Y5WT: