Terra Classic (LUNC) Community Passes Four Monumental Burn and Staking Proposals
Fearing Binance withdrawing its LUNC burn mechanism, the community denied many proposals related to raising LUNC burn and burn tax. However, the sentiment has now changed after LUNC price fell below $0.000010 last week, reaching levels of last May when Terra USD (UST) and LUNA prices collapsed drastically. advertisement Also Read: Terra Classic Project Burns 2 Billion LUNC Tokens, Overtaking Binance Burn Terra Classic Proposal Passed by the Community The four-part proposals will bring major changes to the Terra Classic network and community. CoinGape Media in a previous report cited reasons why Binance may support the Terra Classic community increasing the LUNC burn tax to 0.5%. Proposal 11513 “[1/4] Split Burn Tax with Distribution Module” The text proposal seeks to modify the burn AnteHandler to split the Burn tax to the Distribution Module instead of the Community Pool. This will increase staking rewards and boost demand for staking, ...