The post Terra Luna Classic Votes On Implementing New LUNC Burn Tax, Price To Fall Further appeared on BitcoinEthereumNews.com.

LUNC News: The Terra Luna Classic community has started voting on a key proposal to implement a revised LUNC burn tax distribution. This pay-per-job (PPJ) proposal seeks community members and validators’ approval on moving ahead with changes as per proposal 12098 passed earlier by the Terra Classic community in April. Terra Luna Classic Prepares for Burn Tax Changes Text proposal 12114 by popular developer Frag seeks PPJ approval to implement the burn tax distribution change passed by the Terra Luna Classic community. The developer seeks to start working on revising burn tax to implement the oracle pool split, as per conditions set in proposal 12098. Terra Classic has a burn tax set to 0.5%, which is strongly adhered to by the community. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to rewards. As per 12098, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool. The developer has set following requirements under the implementation plan: Implementation of the new distribution logic in ante handler Adjust the split parameters to reflect the new split logic Adjust the proposal types and handlers to reflect the new parametrization Writing ante handler unit tests to test if the new logic reflects the requirements of proposal 12098 Non-empty upgrade proposal handler to be able to rollout the changes with coordinated chain halt proposal and set the split/distribution parameters according to proposal 12098 Frag proposes to complete the work in 56 hours and charge $3600 in LUNC. This implementation needs development, local testing, writing of unit tests; testnet rollout and coordination; and mainnet rollout and coordination. He has set high odds of completing the implementation by mid-July. Also Read: Terra Luna Classic Community Approves 256 Million LUNC Community Pool Spend Impact…

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Filed under: News - @ June 11, 2024 9:26 pm