• LUNC staking has reached an all-time high of $975 million, with 14.23% of all coins in circulation being staked.
• The community is now voting on a 0.5% tax burn proposal, which could help maintain the price of LUNC and USTC over time.
• A software engineer has proposed the switch to an AI chain app that would create a security vault to restore the value of Terra Classic USD (USTC).
LUNC Staking Reaches All-Time High
LUNC staking has reached an all-time high of $975 million, with 14.23% of all coins in circulation being staked. This surge in $LUNC staking could potentially reduce the circulating supply in the market, which could help maintain its price over time.
Community Voting on Tax Burn Proposal
The community is now voting on a 0.5% tax burn proposal, which could further reduce the circulating supply and boost LUNC’s price even more if approved by voters. However, not everyone is convinced that this will be beneficial for whales who may not be willing to trade when they have to pay higher taxes.
Software Engineer Proposes Switch to AI Chain App
In order to bolster Terra Luna’s revitalization plan, software engineer Edward Kim proposed the switch to an AI chain app that would create a security vault to restore the value of USTC tokens. This idea has been met with mixed opinions from members within the LUNC community as some are still uncertain whether or not this will benefit them in any way.
Split Opinion on Tax Burn Proposal
The opinion within the LUNC community remains split on whether or not this 0.5% tax burn proposal should go through as 41 percent have voted yes while others remain unconvinced that it will have a positive effect on them due to increased taxes for trading $LUNC tokens.
Conclusion
The success of Terra Luna Classic (LUNC) depends heavily on how well their current revitilization plan is executed over time and their ability to improve its network infrastructure along with their tokenomics scheme as they try to recover from last year’s crash. Thus far, it appears that they are making good progress but only time will tell if these efforts will bear fruit for investors looking for promising returns down the line