Burn

Terra Classic

April

Terra

Force

<ul class="news-points">
 <li>Terra Classic community is voting on Proposal 12114 to adjust the burn tax.</li>
 <li>The proposal aligns with the upcoming SDK 0.47 shift from block rewards to gas fees for staking rewards.</li>
 <li>Initial support from community members was evident, with 24 votes.</li>
</ul>
The Terra Classic community is currently voting on a proposal to adjust the distribution of its LUNC burn tax, with a focus on funding the critical Oracle pool. This move follows a similar successful proposal in April and highlights the community’s ongoing efforts to optimize the token’s tokenomics.
A proposal, dubbed “<a href="https://station.terraclassic.community/proposal/columbus-5/12098" target="_blank" rel="noopener noreferrer nofollow">Proposal 12098</a>,” was submitted by community member SrathCole to modify the burn tax distribution. Currently, Terra Classic’s burn tax is set at 0.5%, with 20% allocated to burning and 20% to distribution, including 10% each to the Terra Classic Community Pool and rewards.
Strathcole proposes a redistribution of the tax burn, with 80% allocated to burning, 10% to the community pool, and 10% to the Oracle pool, replacing rewards. This adjustment aims to improve the tax distribution, ensuring long-term staking rewards and block rewards consisting solely of gas fees.
Former L1 Joint Task Force devel…
The post <a href="https://coinedition.com/terra-classics-lunc-burn-tax-proposal-what-you-need-to-know/" rel="noopener noreferrer nofollow">Terra Classic’s LUNC Burn Tax Proposal: What You Need to Know</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Terra Classic’s LUNC Burn Tax Proposal: What You Need to Know

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