As a crypto investor with experience in the Terra Luna Classic ecosystem, I’m relieved to see the community reject the recent proposal to increase the burn tax. The recurring proposals to alter the burn tax have become tiresome, and this latest one lacked a clear rationale or supporting data. The failure of Proposal 12105 to gain significant traction is a good sign that the community values stability and careful consideration over hasty decisions.
As an analyst, I’ve observed that the Terra Luna Classic community has recently rejected a proposition to raise the burn tax from 1% to 1.5%. This proposal did not sit well with the community members, who have grown weary of repeated suggestions to modify the burn tax rate.
Terra Luna Classic Rejects LUNC Burn Proposal
As a crypto investor in Terra Luna Classic, I’ve come to understand that Proposal 12105, which aimed to increase the burn tax, has been met with rejection by our community. The primary criticism leveled against this proposal is the perceived lack of justification and insufficient effort put forth in its presentation.
The proposal garnered only a 21.35% approval rate from the voters in the Terra Luna Classic community. Thirty-two percent of the votes were cast as “No,” while an additional 38% were marked as “No with veto.” This collective rejection effectively quashed the initiative to revise the burn tax. Validators also joined in the opposition, citing insufficient data to justify a tax hike, lack of accompanying strategies to support it, and no projected volumes.
As a researcher, I’ve noticed an update within the community regarding the LUNC burn tax distribution. Previously, the rewards were the intended recipients of the taxed tokens. However, this has recently been altered, with the oracle pool now receiving 20% of the burn tax instead. The proposal gained approval from 70% of the voters and was supported by 37 validators. Terra Classic sets aside a 0.5% burn tax for transactions. Of this amount, 80% is used for token destruction, while the remaining 20% is allocated: 10% to the Community Pool and 10% to the Oracle pool.
LUNC Price Jumps Amid Rising Sentiment
In the past 24 hours, the value of LUNC has risen by 1%, reaching a current price of $0.0001145. The lowest and highest prices within this timeframe were recorded at $0.0001143 and $0.0001207, respectively. Notably, there has been a significant surge in trading activity, with a 70% increase in volume, suggesting heightened investor attention.
Currently, USTC’s price hovers around the mark of $0.02237 in a horizontal trend. The minimum and maximum points in the past 24 hours were recorded at $0.02246 (low) and $0.02377 (high).
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2024-05-29 23:09