LUNC Burn Tax Debate Heats Up: JesusIsLord Validator Casts “No” Vote on Proposal #11975
The fire is burning bright within the LUNC community, fueled by the ongoing debate surrounding proposal #11975: a temporary tiered burn tax on both LUNC and USTC. But amidst the flames, a dissenting voice rings out – JesusIsLord Validator, a prominent figure in the ecosystem, has firmly planted their flag in the “No” camp, offering a clear and concise rebuttal to the proposal’s merits.
I have voted NO on #LUNC governance proposal #11975. This proposal is suggesting to implement a 3% burn tax on LUNC and 2% on USTC for 3 months, then a 1.5% LUNC and 1% USTC for 3 months to determine what is best. I don't agree with this for numerous reasons. The first is that I…
— JESUSisLORD (@ForTheCross_CH) January 12, 2024
At the heart of their opposition lies a commitment to a simpler, more equitable solution: a permanent 1.5% on-chain tax applied equally to both LUNC and USTC. This alternative, rooted in a previously submitted parameter change proposal, awaits the crucial implementation of tax-to-gas functionality for its return to the voting arena.
Read Also: Shiba Inu Burns: Token Incineration Soars 6,000%, While Shibarium Sees Mixed Signals
JesusIsLord’s position rests on several pillars
- Unity Over Disparity: The idea of separate tax rates for LUNC and USTC finds no favour here. A single, unified tax fosters a sense of equality and shared responsibility, promoting solidarity within the community.
1.5% is the Sweet Spot: The proposed temporary tiered system, starting at 3%/2% and dropping to 1.5%/1%, raises doubts about long-term commitment. JesusIsLord advocates for a steady, permanent 1.5% burn, emphasizing its effectiveness in significantly boosting both burns and community pool/staking rewards.
Patience for Progress: While acknowledging the urgency of burn implementation, JesusIsLord advocates for a strategic approach. Awaiting tax-to-gas integration, they believe, will optimize the effectiveness of the 1.5% tax proposal, leading to the most impactful outcome.
Read Also: SEC Heats Battle with Ripple, Demanding Financial Statements and Raising New Claims
This stance is not about blind obstinacy; it’s about calculated conviction. JesusIsLord offers a fully crafted, updated 1.5% tax proposal, ready to be unleashed once the technical hurdles are cleared. Their confidence stems from a comprehensive understanding of the community’s needs and a deep commitment to its future.
Transparency and accountability are hallmarks of JesusIsLord’s leadership. They invite delegators to delve deeper into their reasoning by visiting their Telegram channel, where detailed explanations for all governance votes reside. And, recognizing the power of individual choice, they empower delegators to either cast their own manual votes or redelegate to another validator whose stance aligns with their own.
The LUNC burn tax debate is far from settled, but JesusIsLord’s resolute “No” has thrown a curveball into the mix. Their alternative vision, grounded in clarity, consistency, and optimism, offers a compelling counterpoint to the current proposal. As the community grapples with this critical decision, one thing is certain: the flames of discussion will continue to blaze, fueled by a collective desire to see LUNC rise from the ashes, stronger and brighter than ever before.
Follow us on Twitter, Facebook, Telegram, and Google News.
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
