The post Terra Luna Classic Considers Raising Burn Tax to Boost Token Value appeared on BitcoinEthereumNews.com.

LUNC community debates a 1.5% burn tax proposal. Higher burn rate could boost LUNC price and ecosystem funding. Proposal aims to accelerate LUNC and USTC burn through increased tax. LUNC users are closely monitoring how a proposed increase in the project’s on-chain burn tax rate could impact the LUNC price. The ongoing debate surrounding the LUNC burn tax proposal has not yet swayed the crypto token’s trajectory, perhaps because implementation, if passed, would not be immediate. The new tax rate would only take effect once the LUNC supply reaches 10 billion tokens. Terra Luna Classic validator JesusisLord submitted the proposal to raise the burn tax rate from 0.5% to 1.5%. Community members anticipate the proposal could significantly affect the LUNC ecosystem’s dynamics. Currently, the burn rate is split into two parts: 80% allocated to the burn mechanism, and the remaining 20% divided equally between the community and oracle pools. The proposed increase to a 1.5% LUNC tax rate carries several implications. If approved, it would raise the burn allocation from 0.4% to 1.2%, effectively tripling contributions to both the community pool and the Oracle pool… The post Terra Luna Classic Considers Raising Burn Tax to Boost Token Value appeared first on Coin Edition. Source: https://coinedition.com/terra-luna-classic-considers-raising-burn-tax-to-boost-token-value/

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Filed under: News - @ August 1, 2024 11:12 pm