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The Terra Luna Classic community rejected a proposal to increase the cremation tax to 1.5%. This decision was made after statements from community members expressing their disapproval of repeated proposals to change the cremation tax.

Terra Luna Classic Burn Tax Proposal Rejected

Proposal 12105 to increase the "burn tax" was rejected by the Terra Luna Classic community, criticizing it for not making sense and for "insufficient effort." The proposal received only 21.35% "yes" votes. The votes were 32% "no" and 38% "no with veto".

Validators voted against the proposal due to a lack of data, complementary strategies and volume projections to support the tax increase. Previously, the community passed the proposal to transfer the LUNC burn tax distribution to the oracle pool instead of rewards, with a 70% "yes" vote.

LUNC Price Movement

LUNC price decreased by 2% in the last 24 hours to $0.0001150. There was a 31% increase in trading volume, which shows that interest among traders has increased.

The price of USTC, one of the old stablecoins, also remained stable at $ 0.02269, decreasing by 1%. The lowest and highest prices of USTC in the last 24 hours were $0.02246 and $0.02377 respectively.

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