• LUNC staking reached an all-time high of $975 million, with 14.23% of $LUNC staked.
• The community is voting on a 0.5% tax burn proposal to maintain the value of $LUNC and $USTC.
• However, some members are split over the proposal, as some fear it may not be attractive to whales.
LUNC Reaches All-Time High Staking
The game-tested altcoin Terra Luna Classic (LUNC) recently reached an all-time high in staking, with 14.23% of $LUNC staked and a total value of $975 million. This milestone comes just a week after the LUNC community voted for parity proposal #11511 to onboard Terra 2.0 dApps onto LUNC. Such a high level of staking could potentially help reduce the circulating supply and maintain the price of LUNC over time.
Community Tax Burn Proposal
The L1 Task Force recently proposed a 0.5% tax burn in order to secure a bullish effect on the prices of both LUNC and USTC tokens in the market. 41% of voters agreed with this proposal, though some strong objections exist from those who fear that whales may not be attracted to trading with such a high burn rate tax in place.
Edward Kim’s AI Proposal
Software engineer Edward Kim has proposed switching to an AI chain app which would create a security vault to restore USTC’s value – however, this plan is still yet to be adopted by the majority voting within LUNCs community before implementation can occur.
Split Opinions Over Tax Burn Proposal
The 0.5% tax burn is met with opposing views from within the community – while some look forward to its potential benefits, others worry that it may alienate larger traders from investing in LUNCs blockchain network due to its high taxation rate on transactions executed through it..
The recent increase in staking for Terra Luna Classic (LNC) shows potential for long term success within its markets – however further discussion is needed amongst its users regarding their opinions towards implementing Edward Kim’s AI plan and whether or not they accept or reject introducing a higher tax rate onto transactions made through their network before any major changes can take place within it