Terra Luna Classic Community Votes Against Burn Tax Increase Proposal, $LUNC Price Goes Up

The Terra Luna Classic community has said no to Proposal 12105, which aimed to raise the LUNC burn tax. People were against it because there wasn't a clear plan for how it would work. Even though the idea of a burn tax was rejected, talks about it are still going on in the Terra Luna Classic community.

Strong Opposition to Proposal 12105

A lot of people, including community members and validators, didn't like Proposal 12105, which suggested increasing the burn tax to 1.5%. They thought it was illogical and not well thought out. It was just a text proposal, meaning it wouldn't have changed the burn tax right away. Even if it had passed, more discussions and proposals would have been needed to make any changes. Only 21.35% of people voted in favor of it, while 32% were against it, and 38% wanted it completely rejected.

Critics pointed out problems like a lack of data, unclear strategies, and not enough information about volume. These issues led to the proposal failing, so future proposals need to address these problems to be successful.