Yes, Binance burns the trading fees collected from Terra Luna Classic (#LUNC✅ ) spot and margin trading on a monthly basis. In December 2022, Binance announced a policy adjustment to burn 50% of the LUNC spot and margin trading fees
These burns are conducted periodically, with Binance sending the burned tokens to a designated burn address, reducing the circulating supply.
For instance, in one of its burn events, Binance burned approximately 2.65 billion LUNC tokens, bringing the total burned by the exchange to over 35.5 billion. These burns aim to decrease the circulating supply, which could positively impact the tokens value over time.
Please note that policies and burn schedules may change, so it advisable to check binance official announcements for the latest updates.
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