LUNC News: The Terra Luna Classic community is currently voting on a significant proposal to update the LUNC burn tax distribution. This pay-per-job (PPJ) proposal, which follows the earlier-approved proposal 12098, seeks the community's and validators' approval for the planned changes.
Terra Luna Classic Prepares for Burn Tax Changes
Popular developer Frag has introduced text proposal 12114, which aims to secure PPJ approval to implement the burn tax distribution changes passed earlier. The proposal outlines plans to revise the burn tax to include an oracle pool split, in accordance with proposal 12098.
The Terra Classic burn tax is set at 0.5%, with 80% allocated for burning and 20% split equally between the Community Pool and rewards. Proposal 12098 modifies this split, directing the 20% as 10% to the Community Pool and 10% to the Oracle Pool.
The implementation plan includes:
Updating the distribution logic in the ante handler.
Adjusting the split parameters to reflect the new logic.
Modifying proposal types and handlers for the new parameters.
Writing unit tests for the ante handler to ensure compliance with proposal 12098.
Creating an upgrade proposal handler to facilitate changes with a coordinated chain halt and adjust distribution parameters per proposal 12098.
Frag proposes to complete this work within 56 hours at a cost of $3600 in LUNC. The tasks involve development, local testing, unit tests, testnet rollout and coordination, and mainnet rollout and coordination. Frag is confident in completing the implementation by mid-July.
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