As a seasoned crypto investor with a knack for keeping my finger on the pulse of the blockchain world, I must say that the Terra LUNA Classic community’s vote on the Tax2Gas proposal is a move that has piqued my interest. The potential streamlining of gas fees and tax conversions could indeed be a game-changer for the LUNC value.
Keeping a close eye, the Terra LUNA Classic community watches as Genuine Labs initiates voting on the Tax2Gas proposal. This initiative mainly aims to simplify gas fees and tax conversions, potentially boosting the value of LUNC. Already garnering significant backing from the community, this proposal represents a significant milestone in the development of Terra LUNA Classic’s future.
Terra LUNA Classic Community Votes On Tax2Gas Proposal
In simple terms, the Terra LUNA Classic community has suggested a voting plan for integrating Tax2Gas within Genuine Labs’ methodology. This proposal intends to change the current fee system into a new tax2gas module, which could make the calculation and deduction of fees more straightforward. In this revised setup, taxes will be transformed into gas at set gas prices, enabling users to pay gas fees using various cryptocurrencies.
Moreover, having various currency options available would enhance users’ adaptability, particularly for individuals who might not have enough of a single currency to cover transaction fees. Genuine Labs mentioned that community members could potentially decide to incorporate other tokens apart from LUNA and USTC, offering more diversity in the choice of tokens for gas payments in the future.
Simultaneously, a significant change proposes that the sender should pay all taxes associated with contracts. This adjustment aims to prevent receivers from encountering surprise fees, thereby streamlining the transaction process. Furthermore, the proposal suggests prioritizing transactions in the queue (mempool) and implementing logic to skip certain IBC transactions for more efficient operations.
Voting Result & LUNC Performance
Within the Terra Classic community, the Tax2Gas proposal has led to a variety of responses. Some people are in favor of the suggested modifications, but certain validators have voiced worries over potential additional expenses.
Despite some reservations, the proposal garnered robust support from the community with approximately 82% voting ‘yes.’ Just 17% voted against, while less than 1% abstained. It’s worth noting that this vote could potentially shape the Terra LUNA Classic ecosystem substantially.
Currently, the price of LUNC dropped approximately 5% today, reaching $0.000071. Its trading volume for the past 24 hours decreased by 17%, amounting to $13.54 million. Despite this dip, an analysis from CoinGape Media predicts that LUNC might rise to $0.0001 in the upcoming period. The forecast emphasizes various on-chain and technical indicators, suggesting a possible significant change in trend for Terra Classic towards reaching $0.0001.
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2024-08-03 20:27