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Tag: Proposal 5234

Successful Vote on Proposal #11873 Signals Positive Momentum for $LUNC
Terra Classic (LUNC)

Successful Vote on Proposal #11873 Signals Positive Momentum for $LUNC

In a significant milestone for the $LUNC community, Proposal #11873 has achieved the required quorum, with an overwhelming majority of positive votes. The outcome, as reported by strathcole, suggests a promising direction for the cryptocurrency, marking a crucial step towards overcoming development barriers and addressing tax calculation issues associated with #luncburn. Read Also: Terraport Finance Rallies Community Spirit Amidst LUNC's Approach to Critical Psychological Level https://twitter.com/ColeStrathclyde/status/1725081474041278643 Quorum Achieved: A Positive Sign for $LUNC The successful voting on Proposal #11873 indicates strong community support and a shared vision for the future of $LUNC. With 22 hours remaining in the voting process, stakeholders are expressing optimis...
Terra Classic Community Proposes Burning 899 Million LUNC Tokens to Restore Trust with Binance
Terra Classic (LUNC)

Terra Classic Community Proposes Burning 899 Million LUNC Tokens to Restore Trust with Binance

In a bid to restore trust and strengthen their partnership with Binance, the Terra Classic community has put forward Proposal 11582, which aims to incinerate over 899 million LUNC tokens. These tokens, previously burned by Binance, were reminted by the community through past proposals to increase the community pool funds. The contentious issue of reminting tokens without third-party approval led to a suspension of burns by Binance last December. The exchange agreed to resume burns only after the community eliminated the reminting mechanism. However, the reminted tokens were not included in the burning process. Community member Powski has submitted the new proposal, advocating for the burning of the reminted LUNC tokens as a gesture of goodwill towards Binance and other stakeholders. ...
USTC Quant Team Proposal 11597 Takes Center Stage for Decentralized Money
Terra Classic (LUNC)

USTC Quant Team Proposal 11597 Takes Center Stage for Decentralized Money

In a bid to embrace the principles of decentralization and democratize the financial system, the USTC Quant Team has presented their groundbreaking proposal, known as 11597. To allow individuals to have a say in shaping the future of money, this proposal is now up for a vote, urging all stakeholders to make their voices heard. Proposal 11597 Aims to address the centralized nature of traditional monetary systems.  Tweeted by RedlineDrifter, a prominent advocate for decentralized technologies, the proposal seeks to address the centralized nature of traditional monetary systems and bring about a more inclusive and transparent financial landscape. Read Also: XRP Forensics Uncovers The Hacker's Route That Recently Laundered XRP Ledger (XRPL). Here's How https://twitter.com/RedlineDrifte...
LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail
Cryptocurrency

LUNC Volume On-chain Increases Following The Reduction Of The Tax Burn Parameter: Detail

It seems the reduction of the tax burn parameter is working as expected as the LUNC trading volume spike as noted in a recent tweet shared by Classy crypto. Recall that the reason for the reduction of the tax burn parameter from 1.2% to 0.2% was that the former resulted in a decline in the trading volume. Read Also: Ripple Says SEC Has No Legal Proof To Qualify XRP As A Security LUNC Trading Volume Spikes By 2X https://twitter.com/ClassyCrypto_/status/1583168137209712640 Per Duncan Day, the author of the proposal; “Gentle reminder that we need to measure this 7-days post-tax to give a reasonable assumption that it has increased volume on-chain,” Day wrote. “Given that I found 7-days enough to determine burn tax efficacy, it is only fair to give the same objective viewpoin...
Exchanges Like KuCoin, OKX And CrypoCom Follow Binance To Implement The Newly Passed LUNC Tax Burn Proposal
Crypto Exchanges

Exchanges Like KuCoin, OKX And CrypoCom Follow Binance To Implement The Newly Passed LUNC Tax Burn Proposal

Three cryptocurrency exchanges announced they would implement the New LUNC proposal to reduce the tax levied on LUNC and USTC on-chain transactions. Following Binance’s announcement of reducing the 1.2% parameter to 0.2%, exchanges have been showing support for the latest tax burn proposal of the LUNC token. Exchanges Support The Newly Passed LUNC Proposal Exchanges like the KuCoin, OKX, and Crypto.Com, followed the same path as Binance, the biggest cryptocurrency exchange. CryptoCom Agrees To Implement The Proposal 5234 In a newly shared tweet by crypto.com, it announces that it will reduce the tax burn parameter for Terra Classic token’s on-chain transactions, including deposits and withdrawals, from 1.2% to 0.2% while still maintaining the Tera classic token’s withdrawal...
Binance Implements Proposal 5234 As It Reduces 1.2% Parameter To 0.2%.
Cryptocurrency

Binance Implements Proposal 5234 As It Reduces 1.2% Parameter To 0.2%.

Following the recent announcement of Proposal 5234 passed by the Terra classic community which states that the LUNC 1.2% tax burn should be reduced to 0.2%, the largest crypto exchange, Binance, has been fostered by it as it implements the changes for LUNC and USTC on-chain transactions. Binance Implements Tax Burn Proposal 5234 The new proposal came as a result of the drastic decline in the USTC and LUNC volume gotten since the inception of the LUNC 1.2% tax burn. Read Also: CertiK Once Again Rates Shiba Inu As The Second Most Secured Crypto Project https://twitter.com/binance/status/1582625797231497217? Furthermore, it is believed by the Terra classic community that the implementation of the LUNC 1.2% tax burn has driven a lot of investors and trading platforms away. ...
Terra Classic Community To Implement Proposal 5234 That Will Reduce The Tax Burn From 1.2% To 0.2%
Cryptocurrency

Terra Classic Community To Implement Proposal 5234 That Will Reduce The Tax Burn From 1.2% To 0.2%

After seeing the effect of the LUNC 1.2% tax proposal on the on-chain volume, the LUNC proponents brought up the idea of proposal 5234. It is worth noting that the Terra Classic community passed proposal 5234 on Monday after a week of voting and debates. The new development was shared by the proposer, a community member known as Akujiro. Read Also: Terraform Labs Introduces Terra Expedition To Strengthen And Expand Terra Ecosystem https://twitter.com/Akujiro2/status/1582061912371892224 Also, the Terra classic developer, Alex ForShaw, gives the detail of the community debate, saying that the proposal attracted about 83% community participation, even without 58 of the network’s 85 validators. Notably, about 92% of non-abstainers voted for the proposal. https://twitter.com/...