#TERRA CLASSIC in a Red Market!

TERRA LUNA CLASSIC SOARS WITH TAX2GAS UPGRADE,LUNC PRICE REVIVAL..

Terra Luna Classic chain will undergo a major upgrade to implement the most-awaited Tax2Gas on the chain. The proposal by the core developer Genuine Labs is approved by the Terra Classic community. This will remove the need for separating handling and calculation of tax, holding significant implications for the future of chain and LUNC price.

Terra Luna Classic Community Nods Tax2Gas Implementation

Text proposal 12120 “Genuine Labs’s Tax2gas Implementation” has surpassed the pass threshold. It indicates that validators and delegators have agreed to implement Tax2Gas with Genuine Labs’ approach. This will follow another parameter change proposal by the core developer to implement the upgrade.

The proposal has received over 65% votes in favor, with 10% “No” and 24% “Abstain” votes. Most validators voted in favor of the proposal, but top validator Allnodes is yet to decide as it is one of the crucial changes to burn and on-chain tax mechanism.

Genuine Labs’ approach faced strong opposition from some members of the Terra Luna Classic community. The move primarily came after popular developer StrathCole raised several concerns in the initial review of code developments by Genuine Labs. This led the developer to seek the community’s agreement to decide if the community should implement tax change in this way or not.

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