Terra Luna Classic To Raise LUNC Burn Tax To 1.5%?
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Terra Luna Classic community members contemplate raising the burn tax from 0.5% to 1.5% amid the burn tax distribution and Tax2Burn proposal
Highlights
Terra Luna Classic validator proposes on-chain tax rate from 0.5% to 1.5%.
This will restore the tax to initial burn tax of 1.2%, boosting burns and community funds.
LUNC and USTC prices fall amid market-wide selloff.
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Terra Luna Classic community members contemplate raising the burn tax from 0.5% to 1.5% amid the burn tax distribution and Tax2Burn proposal. The community remains divided on the proposal to increase the on-chain tax rate, fearing crypto exchange Binance may suspend the LUNC burn mechanism.
Terra Classic validator JesusisLord proposed increasing the on-chain tax rate from 0.5% to 1.5%. The validator also suggests keeping the burn tax unchanged until a total supply target of 10 billion LUNC is reached. This is similar to the community’s initial target set during the burn tax mechanism incorporation.
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Terra Luna Classic Proposes To Revise On-Chain Tax to 1.5%
Terra Classic validator JesusisLord proposed increasing the on-chain tax rate from 0.5% to 1.5%. The validator also suggests keeping the burn tax unchanged until a total supply target of 10 billion LUNC is reached. This is similar to the community’s initial target set during the burn tax mechanism incorporation.
If the tax is increased to 1.5%, it will increase the burn tax to 1.2% from the current 0.4%. Also, it will increase the contribution to the community pool and the oracle pool, making all components boost by three times.
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