Bitfinex is pleased to announce that following the approval of Proposal 11515 by the Terra Community, it will be supporting the new Tax Burn for all on-chain transactions on the Terra Classic Network. The new Tax Burn represents an increase to 0.5 percent, from the previous Tax Burn of 0.2 percent, which was also supported by Bitfinex and announced last year, to reduce the supply of Luna Classic .The new Tax Burn is expected to take effect at block height 12902400, at approximately 22:00 UTC on 23/05/2023. We will suspend deposits and withdrawals for LUNA Classic and withdrawals for TerraUSD on Bitfinex on 23/05/2023 at approximately 19:00 UTC. Deposits and withdrawals of LUNA and withdrawals of TERRAUST are expected to be reopen after the new Tax Burn changes are implemented and the network is deemed stable. Trading will not be affected. Bitfinex will communicate the reopening of deposits and withdrawal via its social media channels. Customers can also check the deposit and withdrawal status anytime at this API endpoint. The 0.5 percent tax will be deducted by the Terra Classic network. As a result deposits and withdrawals will be processed by Bitfinex in the following way: Deposits: your balance will be credited to your Bitfinex account after the 0.5 percent tax deduction.Withdrawals: your balance will be credited to your external wallet after the 0.5 percent tax deduction. Please note that there is no Tax Burn applied to trading on Bitfinex. . Forward-Looking Statements. Certain statements in this announcement may be forward-looking in nature. The words "believe," "expect," "estimate," "could," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions among others, generally identify "forward-looking statements," which speak only as of the date the statements were made. The matters discussed in these forward-looking statements are subject to a number of risks, trends and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements. None of Bitfinex nor any other person is responsible for updating or revising any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.