Terra Classic

Terra

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/terra-luna-classic-community-rejects-tax-proposal" data-wpel-link="internal">Terra Luna Classic Community Rejects Tax Proposal</a><br></p>
<p style="text-align: justify">The Terra Luna Classic community has voted against a proposal to raise the burn tax to 1.5%. The community members expressed dissatisfaction with the recurring proposals to modify the burn tax, particularly regarding its increment. The proposal received substantial criticism for being an illogical and lazy attempt.</p> 
<h2 id="what-led-to-the-rejection">What Led to the Rejection?</h2> 
<p style="text-align: justify">Proposal number 12105 aimed to increase the burn tax; however, the community dismissed it. The majority of voters highlighted the proposal’s lack of rationality and deemed it a “lazy effort.” It was clarified that this was a text proposal, not a parameter change, meaning even its approval would not have resulted in a tax change.</p> 
<p style="text-align: justify">The proposal only garnered 21.35% of “yes” votes, with 32% voting “no” and 38% casting “no with veto” votes. Validators also opposed the proposal due to insufficient <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data</a>, lack of complementary strategies, and non-existent volume projections to justify a tax increase.</p> 
<p style="text-align: justify">Recently, the community redirected the distribution of the burn tax from rewards to the oracle pool. This new proposal saw a significant 70% “yes” vote, supported by 37 validators.</p> 
<h2 id="how-did-the-lunc-price-react">How Did the LUNC Price React?</h2> 
<p style="text-align: justify">The decision set the Terra Classic burn tax at 0.5%, allocating 80% for burning and dividing the remaining 20% equally between the Community Pool and the Oracle Pool. The LUNC <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">price</a> is currently trading at $0.0001150, following a 2% decline within the last 24 hours. The lowest and highest price points recorded were $0.0001143 and $0.0001207, respectively.</p> 
<p style="text-align: justify">In the past 24 hours, LUNC trading volume surged by 31%, reflecting increased trader interest. Meanwhile, USTC, a former stablecoin, held steady at $0.02269 after a 1% drop, with its price fluctuating between $0.02246 and $0.02377.</p> 
<h2 id="actionable-insights">Actionable Insights</h2> 
<ul> 
 <li>Community sentiment strongly influences proposal outcomes; understanding and addressing concerns are vital.</li> 
 <li>Proposals require thorough data and strategy to gain support from validators and community members.</li> 
 <li>Market awareness and reaction can impact trading volumes and price stability.</li> 
</ul> 
<h2 id="conclusion">Conclusion</h2> 
<p style="text-align: justify">The Terra Luna Classic community’s rejection of the burn tax increase proposal highlights the importance of well-founded and logical initiatives. The focus now shifts to maintaining price stability and fostering community-driven decision-making.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/terra-luna-classic-community-rejects-tax-proposal" data-wpel-link="internal">Terra Luna Classic Community Rejects Tax Proposal</a></h5>

Terra Luna Classic Community Rejects Tax Proposal

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