As a researcher with extensive experience in the Terra Luna Classic ecosystem, I’m excited about the progress being made with the Tax2Gas proposal. The potential for simplifying gas calculations and eliminating the need for separate tax handling is a significant improvement for dApp developers. This will undoubtedly make it easier to migrate audited dApps and reduce potential attack vectors.
LUNC News: Proposal by StrathCole and Genuine Labs to Introduce Tax2Gas in Terra Luna Classic: A single solution for tax calculation and gas fees. With Tax2Gas, taxes get integrated into the gas costs, simplifying complexities for developers creating dApps.
Terra Luna Classic Starts Voting on Tax2Gas Proposal
As a crypto investor, I’m keeping an eye on Proposal 12115 “Genuine Labs Tax2Gas Implementation” currently under governance voting on Station wallet. This proposal put forth by Genuine Labs intends to integrate taxes into the gas fee mechanism. By doing so, we hope to minimize potential attack vectors through end-to-end testing (e2e-test).
At the current moment, the tax reform proposal has secured a nearly unanimous approval with a 99.98% affirmative vote tally. This strong endorsement signifies the community’s readiness for the Tax2Gas project. All validators took part in the voting process and cast their votes in favor of the initiative. The proposal gained swift backing from key validators like JESUSisLORD, StakeBin, Ninja Node, and others.
From a researcher’s perspective, I’ve come across an intriguing proposal called Tax2Gas that aims to address several pain points in the blockchain development landscape. One of the main issues it tackles is the tedious and manual process developers face when calculating taxes on gas fees within their contracts. Additionally, clients or decentralized applications (dApps) need to calculate these taxes themselves as the simulation endpoint only provides gas estimates.
It takes developers five weeks to conduct research, build the product, and carry out preliminary tests and launches, with an anticipated cost of $25,000 in LUNC.
LUNC and USTC Prices Climbed
In the past 24 hours, the value of LUNC surged by 4%, fueled by optimistic market feelings brought about by a decrease in CPI. At present, its price stands at $0.0001049. The minimum and maximum prices within this timeframe were $0.00009855 and $0.0001057, respectively. Furthermore, there was a 20% rise in trading volume during the same period, suggesting heightened trader engagement.
Although the price hasn’t reached the significant threshold of $0.00012 yet, it must rise significantly higher for a substantial surge in the value of Terra Classic ecosystem tokens.
As an analyst, I’ve observed that USTC’s price has surged by over 3%, reaching $0.02378 currently. The trading volume during the past 24 hours experienced a modest increase of approximately 5%. However, the anticipation surrounding the Fed interest rate decision following FOMC today has kept traders on the sidelines.
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2024-06-12 17:06