The Terra Luna Classic (LUNC) community is discussing a proposal to increase the relative tax from 0.5% to 1.5%. This proposal aims to increase LUNC and USTC grievance rates, accumulate more funds in the community pool, and contribute to the overall economy of the network. However, differences of opinion among community members are noteworthy.
Community Divided on Relative Tax
The community is divided on increasing the on-chain tax rate. While some agree with Binance CEO Changpeng Zhao (CZ) in support of lower tax rates, others argue that the rate increase is necessary for the sustainability of on-chain activities. This group believes that increasing the on-chain tax rate to 1.5% will be beneficial in the long run.
Voting takes place within the scope of proposal 12149 via the Station wallet. According to the proposal, the tax rate will be increased from 0.5% to 1.5% and fixed until the total supply reaches 10 billion LUNC. This change is met with both support and criticism among users and developers operating on the Terra Luna Classic network.
Voting Results and Market Reaction
The voting results are currently 43.24% “Yes”, 16.01% “No” and 40.74% “No with Veto”. This clearly shows that there is no consensus within the community. One validator said, “Don’t sabotage developers and L2 projects. “This proposal is being brought to the agenda for the 30th time,” he reacted.
With the increase in the relative tax, LUNC and USTC complaint rates are expected to increase. Additionally, more funds can be accumulated in the community pool and Oracle basin. This could positively impact LUNC’s price performance in the long run. However, uncertainties regarding this proposal continue in the market.
LUNC lost 9% in the last 24 hours due to general market selling. It is currently trading at $0.0001135. Similarly, USTC fell 7% to $0.02029. Trading volume for both tokens increased, indicating continued investor interest.
This vote will be an important milestone in determining the future strategy of the Terra Luna Classic community. The community’s decision could directly impact not only the on-chain economy but also the market performance of LUNC and USTC.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
