Over the last week, LUNC’s sister token Terra LUNA has also shown bullish movement gaining more than 18%. As of press time, Terra LUNA is trading at $0.4389 with a market cap of $350 million and daily trading volumes skyrocketing by 100%.
In a major development for Terra Luna, the bankruptcy court has issued a new order authorizing several key actions for Terraform Lab (TFL). These include reopening the Shuttle Bridge for wrapped asset redemptions and implementing a plan to transfer and burn a significant amount of LUNA tokens.
The court’s order allows TFL to reopen the Shuttle Bridge, a platform used for redeeming wrapped assets on Terra Classic. This will enable users to access their assets through a new, more secure interface. However, in the latest development, Terral Classic had denied any merger plans with LUNA, per the CNF update.
The Shuttle Bridge will remain operational for up to 30 days after TFL’s Chapter 11 plan becomes effective. After this period, the bridge will be permanently shut down, and any remaining assets will be burned. The Chapter 11 plan has not yet been approved and is expected to take effect no earlier than late September 2024.
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Coin exchange rate
$BTC 69508.288 USD (+2.91%) 🟢$LUNC 0.00008533 USD (+1.93%) 🟢$LUNA 0.41524966 USD (+2.22%) 🟢❤1
eToro Delists Terra Luna Classic, Infuriating LUNC Community
The community behind the Terra Luna Classic (LUNC) blockchain has voiced its disregard for eToro’s action following TerraForm Labs’ bankruptcy procedure. Terra Luna Classic’s parent company, TerraForm Labs, recently issued a timeline for loss claims relevant to the ecosystem’s crisis in May 2022. eToro decided to delist both associated tokens, Terra (LUNA) and LUNC.
Why eToro’s Delisting Move Enraged LUNC Holders
eToro’s move to disable LUNC buying on its platform was not spontaneous. An update on eToro regarding the LUNA tokens warned about the looming close-only status that’s been in effect since July 17, 2024, at 9 AM GMT.
However, the common misconception about this update remains unsettled. The action to remove LUNC and LUNA tokens stems from the high-profile Terra vs. SEC case developments, which settled for $4.5B.
While this has provided a way for LUNA investors to potentially get a reimbursement, it remains unclear how realistic this refund plan is, given that TerraForm Labs’ public wallets contain less than $100 million in disposable digital assets.
However, a major discrepancy exists in eToro’s action to remove LUNC. TerraForm Labs, the chain’s deployer, forked the original product to launch Terra 2.0, which is now known as Terra (LUNA).
The community behind the Terra Luna Classic (LUNC) blockchain has voiced its disregard for eToro’s action following TerraForm Labs’ bankruptcy procedure. Terra Luna Classic’s parent company, TerraForm Labs, recently issued a timeline for loss claims relevant to the ecosystem’s crisis in May 2022. eToro decided to delist both associated tokens, Terra (LUNA) and LUNC.
Why eToro’s Delisting Move Enraged LUNC Holders
eToro’s move to disable LUNC buying on its platform was not spontaneous. An update on eToro regarding the LUNA tokens warned about the looming close-only status that’s been in effect since July 17, 2024, at 9 AM GMT.
However, the common misconception about this update remains unsettled. The action to remove LUNC and LUNA tokens stems from the high-profile Terra vs. SEC case developments, which settled for $4.5B.
While this has provided a way for LUNA investors to potentially get a reimbursement, it remains unclear how realistic this refund plan is, given that TerraForm Labs’ public wallets contain less than $100 million in disposable digital assets.
However, a major discrepancy exists in eToro’s action to remove LUNC. TerraForm Labs, the chain’s deployer, forked the original product to launch Terra 2.0, which is now known as Terra (LUNA).
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Terra Luna Classic Members Call Out Terra CEO
Since mid-2022, LUNC has been powered by a loyal community, which has deemed eToro’s action unfair. As a result, prominent LUNC validators and developers have united to demand answers from Chris Amani, the current TerraForm Labs CEO.
According to people familiar with the matter, TerraForm Labs staff told eToro’s officials that Terra still owns LUNC, so trading on the U.S.-regulated stock and crypto exchange has been discontinued like with LUNA.
Seasoned LUNC validator Vegas Morph has tagged this dispute’s relevant parties, directly approaching Chris Amani: “Can you please tell eToro that you do not own the chain?” The message abruptly spread across Terra Luna Classic’s social media channels as the community demanded both parties’ answers.
Naturally, these developments didn’t bode well for the price of LUNC. The altcoin plunged by 6.2% to trade at $0.00008188 as of press time. Moreover, despite a substantial relief rally last week to tackle the weekly heights of $0.00009299, LUNC failed to restore a $500 million global market cap for the fifth consecutive day.
Since mid-2022, LUNC has been powered by a loyal community, which has deemed eToro’s action unfair. As a result, prominent LUNC validators and developers have united to demand answers from Chris Amani, the current TerraForm Labs CEO.
According to people familiar with the matter, TerraForm Labs staff told eToro’s officials that Terra still owns LUNC, so trading on the U.S.-regulated stock and crypto exchange has been discontinued like with LUNA.
Seasoned LUNC validator Vegas Morph has tagged this dispute’s relevant parties, directly approaching Chris Amani: “Can you please tell eToro that you do not own the chain?” The message abruptly spread across Terra Luna Classic’s social media channels as the community demanded both parties’ answers.
Naturally, these developments didn’t bode well for the price of LUNC. The altcoin plunged by 6.2% to trade at $0.00008188 as of press time. Moreover, despite a substantial relief rally last week to tackle the weekly heights of $0.00009299, LUNC failed to restore a $500 million global market cap for the fifth consecutive day.
Coin exchange rate
$BTC 66935.426 USD (-3.68%) 🔴$LUNC 0.00008362 USD (-2.0%) 🔴$LUNA 0.40932841 USD (-1.45%) 🔴LUNC Delisting: Terra Classic Seeks Clarification From TFL CEO And eToro
Terra Classic community has asked Terraform Labs CEO Chris Amani and eToro for clarification on LUNC delisting on the platform. The move comes after eToro users faced difficulty in trading LUNC due to recent developments in Terraform Labs (TFL) bankruptcy proceedings. The community claims Do Kwon and TFL had cut ties with the Terra Classic after the 2022 Terra-Luna Crisis, eventually dropping support for the decentralized chain.
Terra Classic community has asked Terraform Labs CEO Chris Amani and eToro for clarification on LUNC delisting on the platform. The move comes after eToro users faced difficulty in trading LUNC due to recent developments in Terraform Labs (TFL) bankruptcy proceedings. The community claims Do Kwon and TFL had cut ties with the Terra Classic after the 2022 Terra-Luna Crisis, eventually dropping support for the decentralized chain.
Terra Classic Community’s LUNC Delisting Concerns
Social investment network eToro has set tokens issued by Terraform Labs as close-only status, with 78 thousand LUNC holders reportedly unable to buy LUNC from eToro. It follows the recent Terraform Labs chapter 11 bankruptcy case developments. The platform has stopped trading all tokens issued by TFL as the beleaguered company reportedly told eToro that they also own LUNC.
This has raised concerns in the community as it also risks LUNC delisting by other crypto exchanges. The community needs clarification from Terra CEO Chris Amani and eToro on why LUNC is being delisted due to Terraform Labs Chapter 11 bankruptcy.
Validators and popular community members such as VegasMorph and Mr. Diamondhandz said the Terra Classic chain is managed by the community. It is the only decentralized chain after TFL deferred ties with the chain, as earlier confirmed by Do Kwon and TFL. Infrastructure, updates, maintenance, and others are managed by the community through governance voting.
Social investment network eToro has set tokens issued by Terraform Labs as close-only status, with 78 thousand LUNC holders reportedly unable to buy LUNC from eToro. It follows the recent Terraform Labs chapter 11 bankruptcy case developments. The platform has stopped trading all tokens issued by TFL as the beleaguered company reportedly told eToro that they also own LUNC.
This has raised concerns in the community as it also risks LUNC delisting by other crypto exchanges. The community needs clarification from Terra CEO Chris Amani and eToro on why LUNC is being delisted due to Terraform Labs Chapter 11 bankruptcy.
Validators and popular community members such as VegasMorph and Mr. Diamondhandz said the Terra Classic chain is managed by the community. It is the only decentralized chain after TFL deferred ties with the chain, as earlier confirmed by Do Kwon and TFL. Infrastructure, updates, maintenance, and others are managed by the community through governance voting.
Coin exchange rate
$BTC 66217.534 USD (-1.04%) 🔴$LUNC 0.00008063 USD (-3.58%) 🔴$LUNA 0.39446517 USD (-3.63%) 🔴LUNC and USTC Price Action Amid Confusion
The LUNC delisting move by Toro and concerns in the community have not impacted the Terra Classic ecosystem prices. TFL will reopen Shuttle Bridge for the redemption of wrapped assets on Terra Classic and burn 150 million LUNA, with clarification on LUNC and USTC burn still unclear.
LUNC price jumped 2% in the last 24 hours, with the price currently trading at $0.000083. The 24-hour low and high are $0.00007761 and $0.0000884, respectively. However, trading volume has dropped further by 12% in the last 24 hours.
Meanwhile, USTC price also climbed 2%, with the price now back under $0.020. The 24-hour low and high are $0.01796 and $0.02077, respectively. The trading volume saw a 66% jump over the last day amid the opening of TFL crypto loss claims.
The LUNC delisting move by Toro and concerns in the community have not impacted the Terra Classic ecosystem prices. TFL will reopen Shuttle Bridge for the redemption of wrapped assets on Terra Classic and burn 150 million LUNA, with clarification on LUNC and USTC burn still unclear.
LUNC price jumped 2% in the last 24 hours, with the price currently trading at $0.000083. The 24-hour low and high are $0.00007761 and $0.0000884, respectively. However, trading volume has dropped further by 12% in the last 24 hours.
Meanwhile, USTC price also climbed 2%, with the price now back under $0.020. The 24-hour low and high are $0.01796 and $0.02077, respectively. The trading volume saw a 66% jump over the last day amid the opening of TFL crypto loss claims.
Terra Luna Classic To Raise LUNC Burn Tax To 1.5%?
Terra Luna Classic community members contemplate raising the burn tax from 0.5% to 1.5% amid the burn tax distribution and Tax2Burn proposal. The community remains divided on the proposal to increase the on-chain tax rate, fearing crypto exchange Binance may suspend the LUNC burn mechanism.
Terra Luna Classic Proposes To Revise On-Chain Tax to 1.5%
Terra Classic validator JesusisLord proposed increasing the on-chain tax rate from 0.5% to 1.5%. The validator also suggests keeping the burn tax unchanged until a total supply target of 10 billion LUNC is reached. This is similar to the community’s initial target set during the burn tax mechanism incorporation.
The 0.5% LUNC burn tax is currently split into 80% and 20%, with the 20% breakdown as — 10% to the community pool and 10% to the oracle pool. With the v3.1.3 upgrade for tax burn distribution successfully implemented, oracle pool will get 10% of the burn tax.
If the tax is increased to 1.5%, it will increase the burn tax to 1.2% from the current 0.4%. Also, it will increase the contribution to the community pool and the oracle pool, making all components boost by three times.
“We can expect a substantial increase in the rate of LUNC and USTC burns from the tax, the community pool funding rate, and funding to the oracle pool for long-term staking rewards,” said the Terra Luna Classic validator.
Notably, this proposal will not proceed for governance voting unless Tax2Gas is successfully implemented on-chain. Core developer Genuine Labs expects the Tax2Gas to go live in August.
Terra Luna Classic community members contemplate raising the burn tax from 0.5% to 1.5% amid the burn tax distribution and Tax2Burn proposal. The community remains divided on the proposal to increase the on-chain tax rate, fearing crypto exchange Binance may suspend the LUNC burn mechanism.
Terra Luna Classic Proposes To Revise On-Chain Tax to 1.5%
Terra Classic validator JesusisLord proposed increasing the on-chain tax rate from 0.5% to 1.5%. The validator also suggests keeping the burn tax unchanged until a total supply target of 10 billion LUNC is reached. This is similar to the community’s initial target set during the burn tax mechanism incorporation.
The 0.5% LUNC burn tax is currently split into 80% and 20%, with the 20% breakdown as — 10% to the community pool and 10% to the oracle pool. With the v3.1.3 upgrade for tax burn distribution successfully implemented, oracle pool will get 10% of the burn tax.
If the tax is increased to 1.5%, it will increase the burn tax to 1.2% from the current 0.4%. Also, it will increase the contribution to the community pool and the oracle pool, making all components boost by three times.
“We can expect a substantial increase in the rate of LUNC and USTC burns from the tax, the community pool funding rate, and funding to the oracle pool for long-term staking rewards,” said the Terra Luna Classic validator.
Notably, this proposal will not proceed for governance voting unless Tax2Gas is successfully implemented on-chain. Core developer Genuine Labs expects the Tax2Gas to go live in August.
Coin exchange rate
$BTC 64300.622 USD (-2.89%) 🔴$LUNC 0.00007730 USD (-4.13%) 🔴$LUNA 0.37079775 USD (-5.87%) 🔴LUNC Burn Boost
Raising the burn tax to 1.5% will increase the rate of LUNC and USTC burns from the tax, the community pool funding rate, and funding to the oracle pool for long-term Terra Luna Classic staking rewards.
LUNC price fell 3% in the last 24 hours amid market-wide selloff, with the price currently trading at $0.00008094. The 24-hour low and high are $0.0000807 and $0.0000843, respectively. However, trading volume has decreased by 38% in the last 24 hours.
Meanwhile, USTC price also dropped 4%, with the price now trading at $0.01889. The 24-hour low and high are $0.01878 and $0.01985, respectively. The trading volume saw a 32% drop over the last day.
Raising the burn tax to 1.5% will increase the rate of LUNC and USTC burns from the tax, the community pool funding rate, and funding to the oracle pool for long-term Terra Luna Classic staking rewards.
LUNC price fell 3% in the last 24 hours amid market-wide selloff, with the price currently trading at $0.00008094. The 24-hour low and high are $0.0000807 and $0.0000843, respectively. However, trading volume has decreased by 38% in the last 24 hours.
Meanwhile, USTC price also dropped 4%, with the price now trading at $0.01889. The 24-hour low and high are $0.01878 and $0.01985, respectively. The trading volume saw a 32% drop over the last day.
Terra Luna Classic v3.1.3 Upgrade Goes Live, LUNC Awaits Breakout
Terra Luna Classic has successfully upgraded to v3.1.3 to revise burn tax distribution. The upgrade implemented Oracle Split logic to divert community pool rewards from burn tax to the Oracle Pool (OP) and terrad client to fix memory leaks. The upgrade happened without any outage and without losing a single chain block.
Terra Luna Classic Upgraded to v3.1.3
The v3.1.3 upgrade by popular developer Fragwerdig has successfully goes live on the Terra Classic chain at block height 19108180 on July 29. Validators and developers such as Genuine Labs helped achieve the upgrade without downtime. The updates bundles Oracle split logic and wasmvm v1.5.2 update to prevent memory leaks as primary tasks undertaken by the developers. The upgrade proposal received 99.99 “Yes” votes, which indicates major support from validators and delegators.
Terra Luna Classic has a burn tax of 0.5%. With the burn tax distribution, 80% is for burn and 20% is distributed as — 10% to Community Pool and 10% to Oracle pool. This will help validators as the upgrade will bring a major boost to staking and LUNC price.
The number of staked LUNC rises to 1.04 trillion as investors anticipate an increase amid Terraform Labs bankruptcy. The staking ratio has spiked to 15.39%, a new high after the upgrade.
Terra Luna Classic has successfully upgraded to v3.1.3 to revise burn tax distribution. The upgrade implemented Oracle Split logic to divert community pool rewards from burn tax to the Oracle Pool (OP) and terrad client to fix memory leaks. The upgrade happened without any outage and without losing a single chain block.
Terra Luna Classic Upgraded to v3.1.3
The v3.1.3 upgrade by popular developer Fragwerdig has successfully goes live on the Terra Classic chain at block height 19108180 on July 29. Validators and developers such as Genuine Labs helped achieve the upgrade without downtime. The updates bundles Oracle split logic and wasmvm v1.5.2 update to prevent memory leaks as primary tasks undertaken by the developers. The upgrade proposal received 99.99 “Yes” votes, which indicates major support from validators and delegators.
Terra Luna Classic has a burn tax of 0.5%. With the burn tax distribution, 80% is for burn and 20% is distributed as — 10% to Community Pool and 10% to Oracle pool. This will help validators as the upgrade will bring a major boost to staking and LUNC price.
The number of staked LUNC rises to 1.04 trillion as investors anticipate an increase amid Terraform Labs bankruptcy. The staking ratio has spiked to 15.39%, a new high after the upgrade.
Coin exchange rate
$BTC 64168.094 USD (-0.2%) 🔴$LUNC 0.00007612 USD (-1.54%) 🔴$LUNA 0.36435758 USD (-1.74%) 🔴LUNC and USTC Pared Earlier Gains
Terra Luna Classic ecosystem tokens failed to build upside momentum despite the upgrade. LUNC and USTC trading activity remained sluggish. After the burn tax distribution, the community awaits the major Tax2Gas upgrade.
LUNC price fell 0.5% in the last 24 hours, with the price currently trading at $0.00008353. The 24-hour low and high are $0.00008235 and $0.00008578, respectively. However, trading volume has increased by 15% in the last 24 hours. However, LUNC price analysis by CoinGape Markets predicted a rally to $0.0001 after a breakout in lower timeframes.
Coinglass data shows total LUNC futures open interest surged over 2%, but 1000LUNC futures on Binance dropped by 3% in the last 24 hours.
Meanwhile, USTC price also dropped 0.60%, with the price now trading at $0.01979. The 24-hour low and high are $0.01947 and $0.02032, respectively. The trading volume saw a 31% drop over the last day.
Total USTC futures open interest saw mixed trading across crypto exchanges in the last 24 hours. However, some buying notices in the last 4 hours likely due to the Terra Luna Classic upgrade.
Terra Luna Classic ecosystem tokens failed to build upside momentum despite the upgrade. LUNC and USTC trading activity remained sluggish. After the burn tax distribution, the community awaits the major Tax2Gas upgrade.
LUNC price fell 0.5% in the last 24 hours, with the price currently trading at $0.00008353. The 24-hour low and high are $0.00008235 and $0.00008578, respectively. However, trading volume has increased by 15% in the last 24 hours. However, LUNC price analysis by CoinGape Markets predicted a rally to $0.0001 after a breakout in lower timeframes.
Coinglass data shows total LUNC futures open interest surged over 2%, but 1000LUNC futures on Binance dropped by 3% in the last 24 hours.
Meanwhile, USTC price also dropped 0.60%, with the price now trading at $0.01979. The 24-hour low and high are $0.01947 and $0.02032, respectively. The trading volume saw a 31% drop over the last day.
Total USTC futures open interest saw mixed trading across crypto exchanges in the last 24 hours. However, some buying notices in the last 4 hours likely due to the Terra Luna Classic upgrade.
Terra Luna Classic v3.1.3 Launch: Enhanced Staking Rewards and Burn Tax
The Terra Luna Classic community has announced the release of the v3.1.3 upgrade for enhanced staking rewards and burn tax redistribution. The upgrade by popular developer Fragwerdig went live on the Terra Classic chain at block 19108180 on Monday, July 29.
Terra Luna Classic Stabilize Network with v3.1.3 Upgrade
According to a popular crypto analyst, Collin Brown, the LUNC burn tax distribution has been set at 80% burn, 10% Oracle Pool, and 10% Community Pool. This distribution is beneficial to network validators as it will help boost staking rewards and LUNC prices. However, block rewards for validators would come exclusively from gas fees under the new mechanism.
The upgrade diverted the Community Pool rewards from burn tax to the Oracle Pool leveraging Oracle Split logic. This happened without the loss of a single chain block and outage. The upgrade proposal received majority support from validators and delegators with a 99.9 “Yes” vote.
Following the upgrade, the staking ratio recorded a new high with a rise of 15.39%. Meanwhile, the number of staked LUNC rose to 1.04 trillion as investors anticipate an increase in the near term.
Despite the upgrade, tokens in the Terra Luna Classic ecosystem failed to build upward momentum. LUNC declined by 2.5% within the past 24 hours to trade at $0.00008353. However, the trading volume rose 4.8%, within the same period to $13.9 million.
As shown on Coinglass, LUNC futures open interest increased by over 2%, while 1000 LUNC futures on Binance fell by 3% within 24 hours. A further decline was also observed in the USTC token. In the last 24 hours, USTC’s price dropped 2.7% of its value to trade at $0.01974. The trading volume followed a similar path with a 44.6% drop to $6.4 million. However, total USTC futures open interest saw mixed trading across various crypto exchanges.
Surprisingly, some experts cautioned earlier that passing the proposal could lead to immediate price declines. As highlighted in our earlier report, these experts cited a 0.5% annual percentage drop in validators’ block reward as a key issue. In the long run, supporters of the v3.1.3 upgrade believe the shift might benefit the ecosystem, particularly in boosting staking.
The Terra Luna Classic community has announced the release of the v3.1.3 upgrade for enhanced staking rewards and burn tax redistribution. The upgrade by popular developer Fragwerdig went live on the Terra Classic chain at block 19108180 on Monday, July 29.
Terra Luna Classic Stabilize Network with v3.1.3 Upgrade
According to a popular crypto analyst, Collin Brown, the LUNC burn tax distribution has been set at 80% burn, 10% Oracle Pool, and 10% Community Pool. This distribution is beneficial to network validators as it will help boost staking rewards and LUNC prices. However, block rewards for validators would come exclusively from gas fees under the new mechanism.
The upgrade diverted the Community Pool rewards from burn tax to the Oracle Pool leveraging Oracle Split logic. This happened without the loss of a single chain block and outage. The upgrade proposal received majority support from validators and delegators with a 99.9 “Yes” vote.
Following the upgrade, the staking ratio recorded a new high with a rise of 15.39%. Meanwhile, the number of staked LUNC rose to 1.04 trillion as investors anticipate an increase in the near term.
Despite the upgrade, tokens in the Terra Luna Classic ecosystem failed to build upward momentum. LUNC declined by 2.5% within the past 24 hours to trade at $0.00008353. However, the trading volume rose 4.8%, within the same period to $13.9 million.
As shown on Coinglass, LUNC futures open interest increased by over 2%, while 1000 LUNC futures on Binance fell by 3% within 24 hours. A further decline was also observed in the USTC token. In the last 24 hours, USTC’s price dropped 2.7% of its value to trade at $0.01974. The trading volume followed a similar path with a 44.6% drop to $6.4 million. However, total USTC futures open interest saw mixed trading across various crypto exchanges.
Surprisingly, some experts cautioned earlier that passing the proposal could lead to immediate price declines. As highlighted in our earlier report, these experts cited a 0.5% annual percentage drop in validators’ block reward as a key issue. In the long run, supporters of the v3.1.3 upgrade believe the shift might benefit the ecosystem, particularly in boosting staking.
Coin exchange rate
$BTC 61670.818 USD (-3.9%) 🔴$LUNC 0.00007402 USD (-2.74%) 🔴$LUNA 0.34928394 USD (-4.08%) 🔴What’s Next for Terra Luna Classic
Following the burn tax upgrade, the Terra Luna Classic community awaits another major implementation, Tax2Gas scheduled for the end of July. According to our earlier report, this implementation is expected to simplify transactions for developers and users by integrating burn tax directly into gas fees.
This integration eliminates the need for manual calculation of burn tax by dApp developers, enhancing user experience on the Terra Classic network. The community is debating a proposal to raise the burn tax to 1.2%, aiming to boost LUNC’s price by encouraging token burns on transactions.
Following the burn tax upgrade, the Terra Luna Classic community awaits another major implementation, Tax2Gas scheduled for the end of July. According to our earlier report, this implementation is expected to simplify transactions for developers and users by integrating burn tax directly into gas fees.
This integration eliminates the need for manual calculation of burn tax by dApp developers, enhancing user experience on the Terra Classic network. The community is debating a proposal to raise the burn tax to 1.2%, aiming to boost LUNC’s price by encouraging token burns on transactions.
Terra Luna Classic Contemplates Increasing Burn Tax to 1.5%: Could It Revive Token Prices?
Members of the Terra Luna Classic (LUNC) community are currently debating a proposal to raise the burn tax rate from 0.5% to 1.5%. This proposal, presented by Terra Classic validator JesusisLord, seeks to raise the on-chain tax rate. The proposed change involves keeping the burn tax rate as it is today until the total LUNC supply reaches 10 billion tokens, a threshold set during the initial burn tax mechanism integration.
Under the current system, the 0. 5% burn tax is divided into two parts: 80% is directed towards the burn mechanism, and the remaining 20% is split between the community and oracle pools. Precisely, the 20% distribution is split between the community pool at 10% and the oracle pool at 10%. The previous v3. 1. 3 upgrade has made sure that the Oracle pool gets its due 10% of the burn tax.
Members of the Terra Luna Classic (LUNC) community are currently debating a proposal to raise the burn tax rate from 0.5% to 1.5%. This proposal, presented by Terra Classic validator JesusisLord, seeks to raise the on-chain tax rate. The proposed change involves keeping the burn tax rate as it is today until the total LUNC supply reaches 10 billion tokens, a threshold set during the initial burn tax mechanism integration.
Under the current system, the 0. 5% burn tax is divided into two parts: 80% is directed towards the burn mechanism, and the remaining 20% is split between the community and oracle pools. Precisely, the 20% distribution is split between the community pool at 10% and the oracle pool at 10%. The previous v3. 1. 3 upgrade has made sure that the Oracle pool gets its due 10% of the burn tax.
Coin exchange rate
$BTC 60314.137 USD (-2.15%) 🔴$LUNC 0.00007037 USD (-4.93%) 🔴$LUNA 0.33147021 USD (-5.11%) 🔴