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LUNC News: Terra Luna Classic Community Burn Tax Proposal
The Terra Luna Classic community is voting on proposal 12149 “Set On-Chain Tax Rate to 1.5%” on the Station wallet. It aims to increase the on-chain tax rate from 0.5% to 1.5% and leave it unchanged unless the total supply reaches 10 billion $LUNC
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The move comes after the successful implementation of the v.3.3.0 LUNC network upgrade. The upgrade simplified tax handling and reduced the burden for developers and dapps to build on the Terra Luna Classic network.
The 0.5% LUNC burn tax is currently split into 80% and 20%, with the 20% breakdown as — 10% to the community pool and 10% to the oracle pool. 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.
At present, the proposal has received 43.24% “Yes” votes, with 16.01% “No” and 40.74% “No with veto” votes. The voting by validators and delegators indicate the community remains divided again.
A validator commented, “Please do not sabotage builders & L2 projects. Veto because the 30th attempt is one too much.”
#MarketPullback
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The move comes after the successful implementation of the v.3.3.0 LUNC network upgrade. The upgrade simplified tax handling and reduced the burden for developers and dapps to build on the Terra Luna Classic network.
The 0.5% LUNC burn tax is currently split into 80% and 20%, with the 20% breakdown as — 10% to the community pool and 10% to the oracle pool. 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.
At present, the proposal has received 43.24% “Yes” votes, with 16.01% “No” and 40.74% “No with veto” votes. The voting by validators and delegators indicate the community remains divided again.
A validator commented, “Please do not sabotage builders & L2 projects. Veto because the 30th attempt is one too much.”
#MarketPullback
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