Terra Luna Classic Implements New LUNC Burn Tax Distribution Amid Price Volatility

• The Terra Luna Classic community is set to implement a revised LUNC burn tax distribution, previously ratified in an earlier proposal.
• 10% of the burn tax will be reallocated to the Oracle pool to boost staking activity.
• A developer has indicated that the changes will be implemented by mid-July.

The Terra Luna Classic community’s latest proposal aims to reshape the LUNC burn tax distribution, potentially impacting its price and staking incentives.

Terra Luna Classic Prepares for Revised Burn Tax

The Terra Luna Classic (LUNC) community is gearing up to roll out a new burn tax distribution model. This initiative stems from the recently passed proposal 12114 by the prominent developer Frag, which builds on the earlier proposal 12098 approved by the Terra Classic community in April. The primary goal is to adjust the burn tax distribution to include a portion for the Oracle pool, enhancing staking rewards and overall network stability.

Technical Specifications and Implementation

The implementation plan as proposed by Frag includes several technical adjustments. These involve updating the distribution logic within the ante handler and modifying the split parameters to align with the new distribution model. Further, it includes updating the proposal types and handlers to incorporate this new logic, and writing unit tests to ensure the changes meet the requirements of proposal 12098. Additionally, the upgrade proposal will facilitate a coordinated chain halt to implement these changes seamlessly. Frag estimates that the entire process will take about 56 hours and has requested $3600 in LUNC for the task.

Conclusion

The Terra Luna Classic community is poised to make significant changes to the LUNC burn tax distribution, a move that could enhance staking rewards but lead to initial price volatility. This plan, set for implementation by mid-July, illustrates the resilience and adaptability of the Terra Luna Classic ecosystem.