The Terra Luna Classic community has given the green light to a critical upgrade that could reshape the future of the network. A proposal by core developer Genuine Labs to implement the Tax2Gas mechanism has successfully passed governance voting, marking a significant milestone for the project.
Tax2Gas is designed to streamline transactions by incorporating the burn tax into the gas fee, eliminating the need for separate tax calculations. This simplification is expected to boost efficiency and developer experience on the Terra Luna Classic chain.
While the proposal garnered overwhelming support, it also faced opposition from some community members who raised concerns about the potential impact on the network. Despite these reservations, the community ultimately decided to move forward with the implementation.
The approval of the Tax2Gas proposal has sent ripples through the LUNC market, with the token price experiencing a modest surge. However, the long-term impact of the upgrade on LUNC’s value remains uncertain. While some community members are optimistic about a potential price revival, others remain cautious.
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The success of the Tax2Gas implementation will depend on several factors, including the overall adoption of the Terra Luna Classic ecosystem and the effectiveness of the burn mechanism. If the upgrade can attract new developers and users to the network, it could potentially drive LUNC demand and price appreciation.
As the Terra Luna Classic community moves forward with the Tax2Gas implementation, the eyes of the cryptocurrency world will be on the project to see if it can successfully overcome its challenges and achieve its long-term goals.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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