Binance moves beyond burning the LUNC, it expands its support more by adding Terra UST Classic (USTC) as a borrowable asset on Binance Crypto Loans.
The new development was shared on Binance’s official website earlier today saying USTC would be included in the list of cryptocurrencies its users can borrow to engage in spot and margin trading.
Per Binance’s announcement; “Binance has added USTC as a new borrowable asset on the Binance Loans platform,”
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Terra Classic UST (USTC) Joins The List Of Borrowable Asset On Binance
It is worth noting that Binance is currently supporting a very wide of cryptocurrencies across the globe, adding them to its borrowable asset on the platform. Some of the cryptos in the list include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), BUSD, and ApeCoin (APE), among others.
As Binance’s usual practice, users to borrow USTC will be required to tender collateral in any of the crypto assets supported as collateral assets.
In this regard, the Binance Crypto Loan platform features options such as interest rates, maximum loanable limits based on market conditions, etc.
This new development will undoubtedly be a big hit for the members of the Terra Classic as they can through the recent adding access to digital currency and use it for spot and margin trading purposes.
It is worth noting that the LUNC community has been longing for any news that could bolster the adoption of Terra Classic tokens. The latest announcement is a step in the right direction.
Binance Has Been A Strong Proponent Of LUNC
It is good to have this in mind that the largest cryptocurrency exchange has been a strong and perpetual proponent of the Terra Classic project following its May collapse.
More also, as a sign of support, the exchange recently added its support for the ongoing LUNC tax burn which has claimed a whopping 8.5 billion in just two rounds.
The first of Binance claimed a total of 5.5 billion, although was not that pleasing to the community as they expect something extraordinary from the exchange like Binance while the second round claimed a total of 3 billion which spiked the burn rate of LUNC by 176,084%.
At the moment, the dream of the LUNC community is being realized as the revival has fully come over the LUNC token.