Burn 1.50% Every Transaction / On-Chain Implementation + This is a parameter change proposal and will be implemented automatically if passed

Summary
This proposal aims to create a burn mechanism implementation on-chain by allocating 1.50% of every transaction to the burn adress that Do Kwon gave the community.(terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu)

How this creates a more incentivised system for the community
Holders/Non-stakers: 99.9% of LUNC holders currently are non-stakers.
Burning 1.50% of every transaction will not only help the Terra Luna Classic / LUNC total supply issue, but will also create a deflationary economy,
so investors who lost a lot in the Terra Luna Classic crash will keep holding & buying more to have a chance of making their initial investment back.

Rendering Terra Luna Classic / LUNC a better store of value.
This will attract new buyers to the ecosystem.
On the long term it will give everyone a chance to make money on their investment.

Implementation:
The proposal will be a parameter change proposal which will make the following changes:

[{
“subspace”: “set”,
“key”: “transaction_tax”,
“value”: “true”
},
{
“subspace”: “set”,
“key”: “tax_rate”,
“value”: “0.015000000000000000”
},
{
“subspace”: “distribution”,
“key”: “terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu”,
“value”: “0.015000000000000000”
},
{
“subspace”: “transfer”,
“key”: “SendEnabled”,
“value”: “true”
}]

This is a parameter change proposal and will be implemented automatically if passed.

Note: Since editing is disabled, please follow the comments for any updates, also you can reach out on Twitter @mustafatalipc / Musta.

Note: If the 1.50% tax on every transaction not will be implemented with this parameter change proposal, we will then prepare an improved proposal, until we have implemented our burn mechanism.
For your information. regards MustaCrypto & Team.

6 Likes

1 Voting on the burning of tokens has already passed and has been accepted.
2 Any addresses of the record provided to the Kwon are compromised.
3 tax 1.5% is too high
4 Stop creating the same topics on the decision made

3 Likes

Burn proposal already passed. But this is correct (send % to burn wallet), we need to add after. And similar scheme on big exchanges - trade fee.

I believe Luna cannot proceed without a leader or leadership team. A leader can sit down face to face with the binance team and discuss a timescale for implementing a burn for example. This is how business works. Community energy is great but alot of the chat on twitter and youtube is complete nonsense and lacks focus and direction.

Some people believe spamming on twitter will get CZ to implement a 1.2% burn tax. Or someone ranting on youtube will get the exchanges to take notice. Get real. The chances of this working are so slim. Ill eat a sock of this works.

Talking about this on twitter or youtube may make good content. Well content anway. And maybe it will get views from those holding millions of luna - hoping that by some chance something will happen. But lets be real - this will not be driven forward by neck beards ranting on twitter.

1.5% is fine.
The burn proposal 3568 is not a parameter proposal and is currently at the mercy of the original terra team and exchanges.
This proposal is excellent and is very much needed.
Please vote yes !

Lets see how well decentralization works, shall we. The community in good time will choose a leadership structure. A lot of validators including the largest @orion_money is also voting yes on a number of proposals. And its clear that @cz_binance has a boatload of coins and is vested in the survival of LUNC. This is not some company that needs a centralized management team. So stop with the negativity.

Will this be implemented at the exchanges directly. I’m not a technical person. So would please describe it for nontechnical person. The merit of your proposal is great. But 1.5% is little more high. Is it possible to make it 1 to 1.2% for every buy and sell in CEX, which will be stopped at 500 Billions.
It’s just proposal for thought.

500 bilion is still to much.

If so, it might be set as 100 Billions. Let’s hear from other respected member’s voices.

Probably will be similar to proposal 3568 that has already passed which will attempt to reduce supply to 10B