1.2% Burn & Development Tax During IBC Reopening

There is nothing wrong with fluctuations in burn-tax and any other tax/fee rates (as long as the tax is not excessive ~ under5%? and goes ‘fully’ back into the community). Burning tokens apportions the market cap to everyone holding Lunc and benefits all, and, sending some of the tax revenue to our pool helps us fund the necessary development of our core that will attract third-party dapp developers (utilities) that attract users who will increase tax/fee revenue.

We are in a position where massive burn offs are necessary to redivide our market cap and increase the value of each Lunc, so ~ the lowering of that tax rate (soon after the initial 1.2% rate went into effect) was not a good move - I was against that lowering when it went up for discussion. People were blaming lessened activity on the initial burn-tax when that lessened activity was happening throughout all cryptocurrencies. I did like the 10% being sent to our pool though.

Burning staking rewards, converting the recently discovered ETH to Lunc and burning it ALL, and installing the appropriate circuit breakers (to prevent supply malfunctions) will put us back on track to being a great digital-commodity. I also think we should peg the USTC supply differently and create an actual stable-coin. Here’s more on that core design:

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