• Terra Classic community is voting on Proposal 12114 to adjust the burn tax.
• The proposal aligns with the upcoming SDK 0.47 shift from block rewards to gas fees for staking rewards.
• Initial support from community members was evident, with 24 votes.

The Terra Classic community is currently voting on a proposal to adjust the distribution of its LUNC burn tax, with a focus on funding the critical Oracle pool. This move follows a similar successful proposal in April and highlights the community’s ongoing efforts to optimize the token’s tokenomics.

A proposal, dubbed “Proposal 12098,” was submitted by community member SrathCole to modify the burn tax distribution. Currently, Terra Classic’s burn tax is set at 0.5%, with 20% allocated to burning and 20% to distribution, including 10% each to the Terra Classic Community Pool and rewards.

Strathcole proposes a redistribution of the tax burn, with 80% allocated to burning, 10% to the community pool, and 10% to the Oracle pool, replacing rewards. This adjustment aims to improve the tax distribution, ensuring long-term staking rewards and block rewards consisting solely of gas fees.

Former L1 Joint Task Force devel…

The post Terra Classic’s LUNC Burn Tax Proposal: What You Need to Know appeared first on Coin Edition.

• Terra Classic community is voting on Proposal 12114 to adjust the burn tax.
• The proposal aligns with the upcoming SDK 0.47 shift from block rewards to gas fees for staking rewards.
• Initial support from community members was evident, with 24 votes.

The Terra Classic community is currently voting on a proposal to adjust the distribution of its LUNC burn tax, with a focus on funding the critical Oracle pool. This move follows a similar successful proposal in April and highlights the community’s ongoing efforts to optimize the token’s tokenomics.

A proposal, dubbed “Proposal 12098,” was submitted by community member SrathCole to modify the burn tax distribution. Currently, Terra Classic’s burn tax is set at 0.5%, with 20% allocated to burning and 20% to distribution, including 10% each to the Terra Classic Community Pool and rewards.

Strathcole proposes a redistribution of the tax burn, with 80% allocated to burning, 10% to the community pool, and 10% to the Oracle pool, replacing rewards. This adjustment aims to improve the tax distribution, ensuring long-term staking rewards and block rewards consisting solely of gas fees.

Former L1 Joint Task Force devel…

The post Terra Classic’s LUNC Burn Tax Proposal: What You Need to Know appeared first on Coin Edition.