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The Terra Luna Classic community is buzzing with excitement as a new proposal, Tax2Gas, is up for a vote. This initiative, introduced by two enthusiastic developers, has sparked speculation about the potential for LUNC and USTC prices to hit $1.
đ What is Tax2Gas?
The Tax2Gas proposal aims to simplify tax handling on Terra Classic by incorporating taxes directly into gas fees. This eliminates the need for separate tax processes. The proposal suggests increasing the on-chain tax rate to 1.5%, reinstating the original 1.2% burn tax, and allocating 0.3% to fund the chain. This maintains the current 80/20% tax split.
đŒ Developers and Timeline:
The Terra Luna Classic community is actively voting on Proposal 12067, âTax2Gas Implementation.â Two experienced developers, StrathCole and Genuine Labs, aim to collaborate on this project. With extensive experience in Cosmos chain and module development, they plan to complete the Tax2Gas project in a six-week timeline.
đ° Budget Details:
The total budget allocated for the project is $24,000, with an initial upfront payment of $5,000. The developers plan to submit spend proposals during the implementation phase and post-testing.
đłïž Community Support:
During the preliminary voting phase, Proposal 12067 received massive support, with over 89% of votes in favor. Notable validators like JesusIsLord, Stakesystems, LUNC Development Fund, and SolidVote voted "Yes." However, concerns have been raised about potential KYC and PPJ proposal violations.
đč Price Movements:
LUNC has experienced a 1% price increase in the last 24 hours and a remarkable 15% surge in a week, currently trading at $0.000129. USTC, another key token, reflects a 3% decline at $0.0315 in the last 24 hours.
