Home » Altcoins » Debate Heats Up Over Terra Luna Classic Burn Tax Increase

Debate Heats Up Over Terra Luna Classic Burn Tax Increase

31.07.2024 19:00 1 min. read Alexander Stefanov
SHARE: SHARES
Debate Heats Up Over Terra Luna Classic Burn Tax Increase

The Terra Luna Classic community is considering a substantial increase in the burn tax, potentially raising it from 0.5% to 1.5%.

This proposal has sparked debate, with some fearing that major exchanges like Binance might suspend the burn mechanism if the tax rate is raised.

Validator JesusisLord has put forward the idea of tripling the burn tax rate. He also suggests that the current rate should remain until the total LUNC supply reaches 10 billion, aligning with the original burn targets.

The proposed increase would triple contributions to both the community and oracle pools, enhancing long-term staking rewards.

However, the proposal hinges on the successful implementation of the Tax2Gas feature, expected to launch in August. Without this, the proposal won’t proceed to a governance vote.

Recent market data shows a 3% decline in LUNC’s price and a 4% drop in USTC, with trading volumes also decreasing significantly.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

Telegram

SHARE: SHARES
More Altcoins News

XRP Price Prediction: Can XRP Hit $4 After XRPL EVM Sidechain Launch?

XRP (XRP) has gone up by 1.2% in the past 24 hours but, behind that mild price increase, there has been a significant spike in trading volumes. During this period, $2.4 billion worth of XRP has exchanged hands, representing an 83% increase. Just hours ago, Ripple announced the official launch of its Ethereum-compatible sidechain called […]

30.06.2025 22:06 3 min. read Alejandro Ar

XRP Ledger Deploys EVM-Compatible Sidechain to Expand Multichain Utility

The XRP Ledger (XRPL) has officially launched its Ethereum Virtual Machine (EVM) sidechain on mainnet — marking a major milestone in its effort to bridge XRP’s payment efficiency with Ethereum’s smart contract capabilities.

30.06.2025 21:00 2 min. read Kosta Gushterov

Ethereum Launches Onchain Time Capsule to Mark 11th Anniversary in 2026

A community-driven initiative launched Monday is inviting Ethereum users to lock art, memories, and personal messages inside a decentralized “time capsule,” set to be opened on the network’s 11th anniversary next year.

30.06.2025 19:00 1 min. read Kosta Gushterov

Ethereum Accumulation Surges While U.S. Politics Stir Market Uncertainty

A new CryptoQuant report highlights a growing divergence between long-term Ethereum holders and short-term Bitcoin buyers, with significant accumulation behavior unfolding in both markets amid increasing political and economic tension in the U.S.

30.06.2025 18:00 2 min. read Kosta Gushterov
No Comments yet!

Your Email address will not be published.