Terra Luna Classic Votes On Implementing New LUNC Burn Tax, Price To Fall Further

Terra Luna Classic Prepares for Burn Tax Changes

The Terra Luna Classic community is currently voting on a key proposal (12114) to implement a revised distribution for the LUNC burn tax. This pay-per-job (PPJ) proposal seeks approval from community members and validators to proceed with the changes outlined in proposal 12098, which was previously adopted by the community in April.

According to proposal 12114, developer Frag requests PPJ approval to implement the burn tax distribution changes approved by the Terra Luna Classic community. The developer plans to begin work on revising the burn tax to incorporate the oracle pool split, as specified in proposal 12098.

Currently, Terra Classic has a burn tax of 0.5%, with 80% directed to burn and 20% distributed as follows: 10% to the Community Pool and 10% to rewards. As per 12098, the 20% will now be allocated as 10% to the Community Pool and 10% to the Oracle pool.

Frag has outlined the following requirements for the implementation plan:

• Integrate the new distribution logic into the ante handler.
• Adjust split parameters to align with the new split logic.
• Modify proposal types and handlers to reflect the new parameters.
• Conduct ante handler unit tests to verify the logic meets the requirements of proposal 12098.
• Create a non-empty upgrade proposal handler to facilitate the implementation with a coordinated chain halt proposal and set the split/distribution parameters according to proposal 12098.

Frag estimates that the work will take 56 hours and requests a payment of $3600 in LUNC. The implementation involves development, local testing, unit test writing, testnet rollout and coordination, and mainnet rollout and coordination. He anticipates completing the implementation by mid-July.