The Terra Luna Classic community will vote on a proposal from two new developers to integrate Tax2Gas. LUNC and USTC rates 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 to introduce the Tax2Gas approach on Terra Classic through a partnership with renowned developers StrathCole and developer group Genuine Labs.
Tax2Gas eliminates the necessity for distinct management and calculation by integrating the tax into the gas.
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.
Proposal for Terra Luna Classic Tax2Gas
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.
Solidproof.io KYCed senior developers with Cosmos chain and module developing in established blockchain experience suggested a Tax2Gas development and deployment strategy.
In addition, six weeks are required for research, development, and fundamental testing and deployment by developers.
With a $5000 down payment, the estimated total budget is $24,000.
After completing the specified tests and during the first weeks of the implementation phase, the developers will submit expenditure proposals.
More than 89% of the initial voting cast support for the proposal.
Meanwhile, 12 validators, including JesusIsLord, 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.”
The proposal, according to some community members, violates both the KYC and PPJ proposals.
LUNC and USTC to Rally?
At $0.000129, the price of LUNC has increased by 1% in the past 24 hours and 15% in the past week.
The 24-hour low and high are $0.000123 and $0.000131, respectively.
However, the trading volume has declined by 60% over the last 24 hours.
On the other hand, USTC is currently trading at $0.0315, a decrease of 3% over the last 24 hours.
The 24-hour high and low of $0.0330 and $0.0305, respectively.