#Write2Earn #LUNC. Terra LUNC News: Tax2Gas Proposal Boosts LUNC and USTC to $1
The Tax2Gas proposal aims to streamline the handling and calculation of taxes on Terra Classic by incorporating the tax directly into gas fees. This approach eliminates the need for separate tax handling processes. The proposal seeks to increase the on-chain tax rate to 1.5%, with the original 1.2% burn tax being reinstated and 0.3% allocated to fund the chain, maintaining the current on-chain 80/20% tax split.
Terra Luna Classic’s Tax2Gas Proposal Progress
The Terra Luna Classic community is actively participating in the voting process for Proposal 12067, titled “Tax2Gas Implementation,” using the Station wallet. This proposal aims to secure approval for the collaboration of two new developers with StrathCole and Genuine Labs to introduce Tax2Gas on the chain.
The proposed developers bring extensive experience in Cosmos chain and module development, having undergone KYC verification as senior developers. They have devised a comprehensive plan outlining a six-week timeline for research, development, basic testing, and deployment of Tax2Gas.
The total budget allocated for this project amounts to $24,000, with an initial upfront payment of $5,000. The developers plan to submit spend proposals during the initial implementation phase and post-testing.
During the preliminary voting phase, Proposal 12067 received overwhelming support, with over 89% of votes in favor. Among the 15 validators participating, 12, including prominent names like JesusIsLord, Stakesystems, LUNC Development Fund, and SolidVote, voted “Yes.” However, two validators voted “No,” and Moon Rabbit Validator expressed a “No with veto.”
