Binance modified a few aspects of deposits and withdrawals for LUNC and USTC while also announcing zero fees on trading for ETH.
The Shuttle Bridge will no longer accept deposits or withdrawals of Terra Classic tokens, LUNC, or USTC, according to a statement from Binance.
In a recent notice, the exchange indicated that starting on September 7, 2022, at 0:00 UTC, it would stop accepting deposits and withdrawals of LUNC (Shuttle) and USTC (Shuttle).
“Deposits and withdrawals of LUNC (Shuttle) via Ethereum network (ERC20) and USTC (Shuttle) via BNB Smart Chain (BEP20), Ethereum network (ERC20), and Polygon network will be suspended indefinitely from 2022-09-07 at 00:00 (UTC),” the exchange said in a statement.
In reference to the planned closing of the Shuttle Bridge, Binance stated that she made the choice. Notably, Binance users will only be able to transfer the tokens over the Terra Classic network going forward with the suspension of LUNC (Shuttle) and USTC (Shuttle) deposits and withdrawals. Users can transmit their Terra ecosystem tokens between Terra and other supported networks like Ethereum and Binance Smart Chain via Terra’s Shuttle Bridge.
The development won’t have an impact on Terra Classic token spot and margin trading, said Binance.
Binance introduces zero trading fees for Ethereum
The biggest exchange in the world today declared that it would begin charging no trading fees for ETH/BUSD pairs.
Binance adds the following:
“Ethereum’s upcoming Merge, taking the network from Proof of Work to Proof of Stake, has raised the network’s profile recently. So, no matter if you want to enter or exit an ETH/BUSD position, you’ll be able to do so without incurring fees.”
Ethereum creator Vitalik Buterin recently encouraged node operators to upgrade their clients today, as reported by Coinscreed, pointing out that even if The Merge is expected to go live from September 10 to September 20, clients must be upgraded for the September 6 upgrade on the Beacon chain.
“Reminder: even though the merge is coming around Sep 10-20, the beacon chain hard fork is on Sep 6. Make sure to update your clients before then!” Buterin wrote.
The Ethereum team said that The Merge would take place in two stages. The Bellatrix upgrade, which will take place at epoch 144896 on Ethereum’s proof-of-stake (PoS) Beacon chain, is the first stage. The second is the Paris Upgrade, which starts The Merge when the Terminal Total Difficulty level is reached, which is 58750000000000000000000.
The network will switch from using the proof-of-work (PoW) consensus process to proof-of-stake as a result of the Ethereum upgrade known as The Merge (PoS). The action will significantly lower the network’s carbon footprint and change the dynamics of supply and demand, which will cause deflation.
