LUNC Staking Reaches All-Time High of $1B: Community Votes on Tax Burn Proposal

• LUNC staking reaches an all-time high of $975 million
• Community is voting on 0.5% burn tax proposal
• Debate over burn tax proposal splits the community

LUNC Staking Hits Record High

Terra Luna Classic (LUNC) staking recently hit an all-time high of $975 million. This means that 14.23% of all circulating LUNC has been staked, according to Mr. Diamond Handz, a well-known validator for the Terra Luna blockchain. The spike in $LUNC staking could reduce the circulating supply in the market and help maintain LUNC’s price over time.

Parity Proposal #11511

The community behind Terra Luna recently voted for parity proposal #11511 to onboard Terra 2.0 dApps onto LUNC. The game-tested altcoin also has a 0.5% tax burn proposal up for vote, which could potentially increase the value of $LUNC or $USTC by reducing its circulating supply further. However, some members have expressed opposition to this, as whales may be discouraged from trading $LUNC with a higher burn rate than usual.

Debate Over Tax Burn Proposal

The debate between the two camps centers around whether or not imposing a 0.5% tax on each transaction will benefit the network or discourage traders from participating in it due to its increased costliness compared to other blockchains without such taxes imposed upon them . Supporters believe that burning coins will positively affect prices while opponents argue that it will only drive away potential investors who want lower costs when trading and investing in cryptocurrencies like LUNCs .

Software Engineer Edward Kim’s AI Chain App

In addition to this ongoing debate, software engineer Edward Kim has proposed switching to an AI chain app which would create a security vault for restoring USTC value on Terra Classic USD (USTC). With more features and use cases being added regularly, there is still hope for LUNCs recovery despite its current struggles with adoption and usage by users in various markets around the world .

Conclusion

The success of Terra Luna Classic (LUNCs) depends largely on how quickly they are able to make their platform attractive enough for traders and investors alike looking to take advantage of its unique features while at the same time working towards restoring its value through measures like burning coins and introducing new apps into their network ecosystem . As long as supporters continue pushing forward their vision for building out this innovative blockchain project , there’s no doubt that there’s still plenty of room for progress ahead!