New Terra LUNA Classic Tax Burn Means It Could Take 30 Years to Destroy 10 Billion LUNC
Terra Luna Classic community voted to reduce the LUNC tax burn rate from 1.2% to 0.2%, which could now take nearly 29 years to take 10 billion tokens out of circulation. The tax burn is a mechanism that has been put in place to bolster the crypto price by destroying 10 billion LUNC from the total supply. The change is expected to take effect at 12:50 (UTC) on Oct. 19. The decision to change the LUNC tax burn rate received an enthusiastic response from the Terra LUNA Classic community. Many praised the grassroots efforts behind the proposal. With the passage of the initiative by the Terra LUNA Classic governance, Twitter user Akujiro highlighted that community members had brought it forward. Akujiro said the proposal had a vote rate of 82% and it included first-time participation from the crypto exchange KuCoin.
Source
https://t.me/Terra_Luna_Tron
