The TERRA CLASSIC [LUNC] The community has been mired in debate since one member suggested getting 1.2% tax burning drop. Akogiro, a member of the LUNC community, had originally asked LUNC to reduce the tax credit to 0.2%.
In addition to the reduction, he proposed that LUNC add 10% of tax earnings to the combined pool. Remember that some cryptocurrency exchanges, including BinanceIt was confirmed support them to burn.
This is the AMBCrypto price forecast for the Terra Classic for 2022-2023
However, the controversy changed when Edward Kim, a prominent member of the community, publicly shared his thoughts on the disaster.
My thoughts on proposing Terra Classic 5234 https://t.co/gYpPEejNHJ
– Edward Kim (@edk208) 14 October 2022
Forward, backward but here I am standing
Sharing on his Twitter page, Kim noted that he carefully analyzed the pros and cons of staying with the current tax loss. It also indicated that it had considered the proposed alternative.
According to him, lowering the tax could increase the size of the LUNC chain. In addition, it can help attract new delegations by using auditors. in Average After, said Kim,
“The increase in volume will be confused with the opening of new instruments in the chain and therefore cannot be accurately quantified with the timing of this proposal.”
The blockchain expert notes that those who are in favor of halving may do so due to their own bias. On the other hand, Kim stated that maintaining the 1.2% tax was also because some members of the community felt it was too early to change the course of the project.
He also noted that some members felt the community did not have enough data for such a move. And to set it all up, Kim concluded he’s in favor of the cut. He also called on other LUNC members to take a stand.
Where does this leave LUNC?
In light of the developments, LUNC doesn’t seem to be getting the attention it might want. according to feelingsLUNC’s social size has dropped dramatically, reaching 50 on October 15.
For the price, there doesn’t seem to be a respite in sight. The Krypton on-chain tool showed that LUNC lost 2.76% of its value and traded at $0.000271 on October 15. However, press time saw a decline of another 1.8% to $0.000268.
for lunch Trading volumeThere was nothing to stop it. On October 15, trading volume was $287.59 million, down 35% from October 14.
In short, the LUNC community seemed divided on the proposal. Comments on Kim’s Twitter post showed that while some thought the cut was ridiculous, others thought 0.2% was too small and should be raised.
Giving yourself 10% of the tax is a worse idea than a burn tax. Developers absolutely deserve to be paid – either through donations or through the community’s official collective spending proposals – but automatically redirecting 10% of every burn to “contributors” is authoritarian and wrong.
– FatMan (FatManTerra) 14 October 2022
With a 1.2% tax, unfortunately the volume drops dramatically. I think the tax should be reduced, but instead of 0.2% I think it would be more reasonable to choose 0.6%. or at least 0.4%. Especially after 1.2%, 0.4% will be adopted very quickly.
– Addicted to LUNA Classic 🇹🇷 🌕🔥 (addictedlunaa) 14 October 2022