Terra Luna Classic Community Engages in Historic Vote on New Proposal
Terra Luna Classic Embraces Simplicity with Tax2Gas
The Terra Luna Classic community is buzzing with excitement as voting begins on the transformative Tax2Gas proposal. Spearheaded by StrathCole and Genuine Labs, this proposal aims to streamline tax handling by integrating it directly into the gas fees, simplifying life for dApp developers.
Proposal 12115: The Future of Tax Handling
Dubbed “Genuine Labs Tax2Gas Implementation,” Proposal 12115 is currently under governance voting on the Station wallet. The key objective is to incorporate tax into gas calculations, thereby minimizing attack vectors through end-to-end testing (e2e-test).
At press time, the proposal has garnered overwhelming support, with 99.98% of votes in favor. Leading validators such as JESUSisLORD, StakeBin, and Ninja Node have backed the proposal, reflecting strong community endorsement.
Simplifying Developer Workflow
One of the primary benefits of the Tax2Gas proposal is the elimination of manual tax calculations for contract developers. Currently, developers and dApps must handle tax calculations themselves, as the simulation endpoint only provides gas estimates. This change will ease the migration of audited dApps by removing Classic-specific adjustments, potentially avoiding re-audits.
The project requires five weeks for research, development, basic testing, and deployment, with an estimated budget of $25,000 in LUNC.
Market Response: LUNC and USTC Prices Surge
The market has responded positively to the proposal. LUNC’s price surged by 4% in the last 24 hours, trading at $0.0001049, with a 20% increase in trading volume, signaling strong trader interest. Despite this rise, LUNC needs to surpass the key resistance level of $0.00012 to trigger a substantial rally in the Terra Classic ecosystem.
Similarly, USTC saw a 3% price increase, currently trading at $0.02378, with a modest 5% rise in trading volume as traders anticipate the Fed’s interest rate decision post-FOMC meeting.
Conclusion
The Tax2Gas proposal is a significant step towards simplifying the Terra Luna Classic ecosystem, making it more efficient and secure for developers. With overwhelming community support and positive market reactions, the implementation of Tax2Gas could mark a new era for Terra Luna Classic. Stay tuned as the community votes and shapes the future of this innovative ecosystem.
