{"id":71666,"date":"2024-02-17T10:46:10","date_gmt":"2024-02-17T14:46:10","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=71666"},"modified":"2024-02-17T10:46:43","modified_gmt":"2024-02-17T14:46:43","slug":"terra-lunas-tax2gas-proposal-to-restore-lunc-and-ustc-to-1","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terra-lunas-tax2gas-proposal-to-restore-lunc-and-ustc-to-1\/","title":{"rendered":"Terra Luna’s Tax2Gas Proposal to Restore LUNC and USTC to $1"},"content":{"rendered":"\n

The Terra Luna Classic community<\/a> will vote on a proposal from two new developers to integrate Tax2Gas.\u00a0LUNC and USTC\u00a0rates to $1?<\/p>\n\n\n\n

\"Terra<\/figure>\n\n\n\n

The Terra Luna Classic community votes on the critical Tax2Gas proposal, which is a major step toward the restoration of LUNC and the repeg of USTC to $1.<\/p>\n\n\n\n

The objective of the proposal is to introduce the Tax2Gas approach on\u00a0Terra Classic through a partnership with renowned\u00a0developers StrathCole and developer group\u00a0Genuine Labs.<\/p>\n\n\n\n

Tax2Gas eliminates the necessity for distinct management and calculation by integrating the tax into the gas.<\/p>\n\n\n\n

By increasing the on-chain tax rate to 1.5%, the proposal restores the original burn tax of 1.2% and allocates 0.3% to finance the chain by the existing on-chain 80\/20% tax split.<\/p>\n\n\n\n

Proposal for Terra Luna Classic Tax2Gas<\/h2>\n\n\n\n

Regarding the Station wallet, Proposal 12067 “Tax2Gas Implementation” requests approval of two additional developers to work with StrathCole and Genuine Labs to activate Tax2Gas on the chain.<\/p>\n\n\n\n

Solidproof.io KYCed senior developers<\/a> with Cosmos chain and module developing in established blockchain experience suggested a Tax2Gas development and deployment strategy.<\/p>\n\n\n\n

In addition, six weeks are required for research, development, and fundamental testing and deployment by developers.<\/p>\n\n\n\n

With a $5000 down payment, the estimated total budget is $24,000.<\/p>\n\n\n\n

After completing the specified tests and during the first weeks of the implementation phase, the developers will submit expenditure proposals.<\/p>\n\n\n\n

More than 89% of the initial voting cast support for the proposal.<\/p>\n\n\n\n

Meanwhile, 12 validators, including\u00a0\u00a0JesusIsLord, Stakesystems, LUNC Development Fund, and SolidVote, voted “Yes” out of a total of 15 that have participated; 2 validators voted “No,” and Moon Rabbit Validator voted “No with veto.”<\/p>\n\n\n\n

The proposal, according to some community members, violates both the KYC and PPJ proposals.<\/p>\n\n\n\n

LUNC and USTC to Rally?<\/h2>\n\n\n\n

At $0.000129, the price of LUNC \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>has increased by 1% in the past 24 hours and 15% in the past week.<\/p>\n\n\n\n

The 24-hour low and high are $0.000123 and $0.000131, respectively.<\/p>\n\n\n\n

However, the trading volume has declined by 60% over the last 24 hours.<\/p>\n\n\n\n

On the other hand, USTC is currently trading at $0.0315, a decrease of 3% over the last 24 hours.<\/p>\n\n\n\n

The 24-hour high and low of $0.0330 and $0.0305, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Terra Luna Classic community will vote on a proposal from two new developers to integrate Tax2Gas.\u00a0LUNC and USTC\u00a0rates to $1? The Terra Luna Classic community votes on the critical Tax2Gas proposal, which is a major step toward the restoration of LUNC and the repeg of USTC to $1. The objective of the proposal is […]<\/p>\n","protected":false},"author":56,"featured_media":71672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7979,9703],"class_list":["post-71666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-terra-luna","tag-terra-classic"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/Terra.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=71666"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/71666\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/71672"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=71666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=71666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=71666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}