The Terra Luna Classic (LUNC) community is discussing an increase in the fuel tax, which would allow a portion of the tokens traded on the network to be burned to reduce the supply. The proposal to increase it from the current 0.5% to 1.5% has sparked significant discussion in the community. The aim of this increase is to contribute to the long-term economy of the network by accumulating more funds in the community pool.
Community members are not in a clear consensus on the proposal. Some members defend Binance CEO Changpeng Zhao’s view that lower tax rates are more suitable for the sustainability of the chain, while others believe that a tax increase is an important step towards the necessary economic transformation. It is believed that implementing higher taxation will benefit the health of the network, especially in the long term.
The vote on Proposition 12149 is expected to be a community decision on increasing the tax from 0.5% to 1.5%. However, the current voting results are mixed; there is a serious divide among members. So far, 43.24% voted “Yes”, 16.01% voted “No”, and 40.74% voted “No with Veto”. This shows that there are mixed reactions among both users and developers. While some validators are annoyed by the constant repetition of this proposal, others believe that the increase will provide more economic support to the community.
It is thought that the tax increase will reduce the supply of LUNC and USTC tokens, creating more demand and thus creating uncertainty among investors.
Despite the recommendation, Terra Luna Classic and USTC tokens have seen significant value loss over the past 24 hours. LUNC is down 9% to $0.0001135, while USTC is down 7% to $0.02029. However, the increasing trading volume suggests that the market is following these developments carefully and investors are keeping an eye on the uncertainty.
The voting process within the community will not only affect the economic structure of the Terra Luna Classic network, but also the market positions of the LUNC and USTC tokens. The final decision will shape the long-term strategy of the network and have a significant impact on the future of the tokens.