$LUNC Yes 💪🏼, the Terra Classic community has voted on increasing the on-chain fees (burn tax).
Following intensive discussions, a vote was held to triple the burn tax on on-chain transactions for LUNC and USTC from the previous 0.5% to 1.5%.
The key details of this vote include:
* Goal of the increase: Tripling the fee aims to drastically accelerate the burn volume to reduce the massive total token supply more quickly.
* Ultimately, a majority of the voting power leaned toward "Yes."
* Technical requirement: Independent of the community's vote, the full technical rollout of the increase was closely tied to implementing the "Tax2Gas" upgrade to ensure smooth, automatic fee calculation on the chain
💪🏼💪🏼💪🏼
Following intensive discussions, a vote was held to triple the burn tax on on-chain transactions for LUNC and USTC from the previous 0.5% to 1.5%.
The key details of this vote include:
* Goal of the increase: Tripling the fee aims to drastically accelerate the burn volume to reduce the massive total token supply more quickly.
* Ultimately, a majority of the voting power leaned toward "Yes."
* Technical requirement: Independent of the community's vote, the full technical rollout of the increase was closely tied to implementing the "Tax2Gas" upgrade to ensure smooth, automatic fee calculation on the chain
💪🏼💪🏼💪🏼