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<h2 id="header-0">Upbit, South Korea&#39;s leading cryptocurrency exchange, plans to divide Terra Classic (LUNC) transaction fees of around $4.6 million charged during the Terra-LUNA crisis into short-term and mid-to-long-term plans.</h2>These plans include building a virtual asset monitoring center, releasing a white paper on the <a href="https://www.coingabbar.com/en/crypto-blogs-english/why-terra-luna-and-ust-crash" rel="noopener noreferrer nofollow">Terra-LUNA crisis</a>, and donating to groups that help Terra investors who have suffered losses.Upbit’s LUNC Transaction Fees Repurpose PlanAs part of its moral obligation to compensate investors for their losses, cryptocurrency exchange Upbit will repurpose the transaction fees collected during the Terra-LUNA crisis for the period May 11-20.Upbit&#39;s Luna Fee Utilization Committee voted at a meeting on September 27 to allocate transaction fees into short-term and mid-to-long-term plans. The whole transaction fee of 239.13025970 BTC is now valued at approximately $4.6 million. In May, the transition fees accounted for around $7.5 million, but Bitcoin&#39;s drop below $20,000 has impacted the amount.As a long-term strategy, the committee plans to build up a virtual asset monitoring center. It will help to guarantee fair market practices and investor protection.Furthermore, the committee intends to contribute a portion of the transaction costs to charities that assist Terra investors with damage relief. The short-term strategy also includes the creation of a white paper on the roots of the Terra-LUNA crisis.Earlier, Upbit and other exchanges planned to reimburse Terra Classic (LUNC) transaction fees to customers. However, in a meeting on September 7, the Luna Fee Utilization Committee stated that returning transaction fees to investors is not practical.Meanwhile, other South Korean exchanges, like Korbit, have not disclosed any new plans despite pledging to refund transaction fees to investors.COINGABBAR VIEWS: Following the announcement, the <a href="https://www.coingabbar.com/en/crypto-currency/terra-luna-lunc-prices-usd" rel="noopener noreferrer nofollow">LUNC price</a> saw an increase of more than 25% and is currently trading at $0.00025. However, the daily trading volume has climbed above $2 billion once again. In addition, the LUNC price is under pressure when Interpol placed Terra founder Do Kwon on its red list.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/stellar-price-falls-will-the-bulls-overcome-resistance-block" rel="noopener noreferrer nofollow">Stellar Price Falls, Will the Bulls Overcome Resistance Block?</a>

Upbit Reveals Plans To Use Terra Classic Transaction Fees

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