The V22 upgrade on the Luna Classic (LUNC) network brings several important changes and enhancements to the ecosystem. Here are some details about the upgrade and its impact on LUNC token holders:
1. Staking LUNC Tokens: With the V22 upgrade, LUNC token holders can now stake their tokens. Staking involves locking up your LUNC tokens in a smart contract to support the network's operations and earn rewards in return. By staking LUNC, token holders contribute to the security and stability of the Luna Classic network.
2. Voting on Ecosystem Proposals: The V22 upgrade also enables LUNC token holders to participate in the governance of the Luna Classic ecosystem. Token holders can vote on proposals that determine the future direction and development of the network. This gives LUNC holders a voice in decision-making processes and allows them to shape the ecosystem according to their preferences.
3. 1.2% Tax Burn: As part of the V22 upgrade, there is a planned 1.2% tax burn scheduled to take place from September 20. The purpose of this burn is to help stabilize the LUNC token and potentially improve its value over time. This burn mechanism reduces the circulating supply of LUNC tokens, which can have a positive impact on the token's scarcity and price dynamics.
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