Someone's running a masterclass in governance capture on $LUNC.
Here's the play:
1. Accumulate $LUNC off-chain (excluding validators)
2. Spread holdings across multiple wallets
3. Push through the 1.5% tax implementation
4. Lock in voting power while making opposition economically painful
The genius? Anyone wanting to challenge them has to:
- Move $LUNC on-chain (1.5% tax)
- Vote
- Move back to exchange (another 1.5% tax)
That's a 3% round-trip cost just to participate in governance. No whale is paying that toll for a single vote.
Result: Current power holders stay in control indefinitely. The tax isn't just revenue—it's a moat.
This is what happens when tokenomics become weaponized governance. $LUNC holders getting slowly bled while a few wallets run the show.
Here's the play:
1. Accumulate $LUNC off-chain (excluding validators)
2. Spread holdings across multiple wallets
3. Push through the 1.5% tax implementation
4. Lock in voting power while making opposition economically painful
The genius? Anyone wanting to challenge them has to:
- Move $LUNC on-chain (1.5% tax)
- Vote
- Move back to exchange (another 1.5% tax)
That's a 3% round-trip cost just to participate in governance. No whale is paying that toll for a single vote.
Result: Current power holders stay in control indefinitely. The tax isn't just revenue—it's a moat.
This is what happens when tokenomics become weaponized governance. $LUNC holders getting slowly bled while a few wallets run the show.