The Terra Luna Classic (LUNC) community is currently engaged in discussions over a proposal to increase the burn tax from 0.5% to 1.5%. This initiative aims to enhance the burn rates for LUNC and USTC, build a robust community pool, and positively affect the network’s economy. However, opinions within the community are sharply divided about this potential change.
What Are the Community’s Opinions on the Tax Hike?
Community members are split regarding the proposed tax hike. On one side are supporters, including Binance CEO Changpeng Zhao, who advocate for maintaining lower tax rates. Conversely, another group insists that increasing the tax rate is crucial for sustaining on-chain operations and overall network growth in the long term.
How Will Voting Impact the Proposal?
The voting process is currently underway under proposal number 12149 via the Station wallet. If approved, the tax rate would rise to 1.5% and remain fixed until the overall supply drops to 10 billion LUNC. Both users and developers have voiced their opinions, leading to a mix of criticism and support for this amendment.
The proposal has garnered attention, with voting results reflecting a divided stance: 43.24% in favor, 16.01% against, and 40.74% opting for a veto. Some validators have expressed concern over potential disruption to ongoing developer initiatives.
- Raising the burn tax may significantly boost LUNC and USTC burn rates.
- The community pool could see increased funds, enhancing overall liquidity.
- Market impact on LUNC’s price might be positive in the long run, despite current volatility.
The outcome of this voting represents a critical juncture for the Terra Luna Classic community, influencing both the on-chain economy and the market trajectory for LUNC and USTC tokens. The community’s decision will be crucial in shaping their strategic direction moving forward.