LUNC Staking Approaches $1 Billion Amid Community Tax Burn Proposal


  • LUNC reaches an all-time high a year after the crash.
  • LUNC L1 Task Force He recently put forward an equivalence proposal.
  • The community votes on a 0.5% tax burn proposal.

The currency tested in the game Terra Luna Classic (LUNC) hit an all-time high of $975 million. Now 14.23% of the total $LUNC is locked, according to Mr. Diamond Handz, one of the well-known validators of the Terra Luna blockchain. This comes just one week after the LUNC community voted on parity proposal #11511 to board Terra 2.0 dApps on LUNC.

In fact, such a high LUNC dollar percentage could indicate a growing interest in the network. A sharp rise in the dollar price of LUNC could significantly reduce the circulating supply in the market, which could help maintain the price of LUNC over time. However, for storage vaults to have a sufficiently bullish effect on the price of $LUNC or $USTC, the network validator points out the importance of Terra Luna Classic Burn.

LUNC’s parity crusade continues

The community behind the ailing blockchain has made several breakthroughs in its Terra Luna revitalization plan. For example, software engineer Edward Kim suggested switching to application chain artificial intelligence, which would create a security vault for restore value From Terra Classic USD (USTC).

Right now, all eyes are on the proposal to burn off the 0.5% tax, including the difference fee, on each transaction. 41% of LUNC community voters agree with the proposal, but there are some strong objections. To clarify, Terra Luna network auditor Mr. Diamond Hands said whales He wouldn’t be interested in trading a LUNC with a higher burn tax.

on the flip side

  • The LUNC community is divided into two camps on the 0.5% tax burn proposal.
  • One member asked, “Why are we still swaying with the tax?” Calling to focus on utility.
  • Danny DeFi“That’s a terrible idea,” said another senior LUNC member, while others threatened to sell their accounts.

Why should you bother

despite of Terrible decoder From Terra (UST) in May 2022, there is still a vast community behind the Terra Luna blockchain one year later.

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