[Proposal] Exclude Smart Contraction Transactions from the scope of Burn Tax

[GhostyRex]

100% support from me @dfunk . This is a great proposal. The potential reward out ways the burn loss.

[StrathCole]

I don’t mean there is no net benefit for the single user that is using contracts. Of course there is. Those users pay no taxes for using the contracts anymore.

But why should users not pay 400 LUNC tax for sending 200,000 LUNC to a contract (via MsgExecuteContract) while sending 200,000 LUNC to another wallet is taxed?

@dfunk

Those are specific to Binance owned wallets - I believe around 30 of them. That would not exclude taxes for users of dapps such as Terraswap or Astroport or other dapps on chain.

You completely miss the point. Binance wants whitelisting of all movements between their own wallets (which include deposit to main wallet). This proposal wants to exclude contracts from tax. And then?
Each of that will set a precedence, imho. Maybe next then is to exclude wallets from tax holding less than 1M LUNC to take away burden from smaller users. I know this isn’t realistic, but I want to make my point clear.
Either we have a tax on chain that affects using coins or we haven’t.

[godoal]

@StrathCole

Binance wants whitelisting of all movements between their own wallets (which include deposit to main wallet).

Could you please post some ref on that, for my information more than anything.

@StrathCole

Maybe next then is

To increase the tax to 1.2% again

[dfunk]

@StrathCole

But why should users not pay 400 LUNC tax for sending 200,000 LUNC to a contract (via MsgExecuteContract) while sending 200,000 LUNC to another wallet is taxed?

I think this is more of a philosophical question rather than a practical one. I can counter argue by stating why should a user not pay tax on delegation, withdrawing rewards, voting, etc? Taxes on those are exempt btw as stated earlier in the proposal.

However, instead of philosophical questions, practical data has been presented to show how the positives of excluding contract executions from burn tax outweigh the negatives.

@StrathCole

Each of that will set a precedence, imho

Like previously stated, there is no such “precedence” being set here. Burn tax doesn’t apply to all transactions currently, only to some. And where burn tax is irrelevant and illogical, the community has voted to remove it, just like in this recent proposal where IBC denoms were excluded from the burn tax: https://station.terra.money/proposal/11267

[StrathCole]

@godoal

Could you please post some ref on that, for my information more than anything.

I sent you a message on that. In short: to continue the monthly burn, Binance requested to have their internal(!) wallet movements whitelisted. So e.g. moving deposits from the deposit wallet to main wallet (43 wallets overall afaik).

@godoal

It will allow us to increase tax, as mentioned by previous community members, without worrying if it affects the contracts used by DEXs and other dApps.

That’s not really the case. It doesn’t affect dApp users then.

@dfunk

I can counter argue by stating why should a user not pay tax on delegation, withdrawing rewards, voting, etc? Taxes on those are exempt btw as stated earlier in the proposal.

I know. But a 0.2% tax on those would be totally acceptable to handle each transaction involving native coins the same (voting does not involve coins, so that wouldn’t be taxed anyway). I am not really a promoter of the tax overall, it could be removed if it was for me, but if it is there it should be fair and not more and more selective.

Raising tax to a higher value if this proposal passes hopefully is not really a consideration. Though it seems it could be

IBC denoms is a completely different topic and out of scope of an on-chain tax, I’d say.

[Olivier_M]

@godoal

It doesn’t say anything about two taxes. It excludes MsgExecuteContract from the existing taxation system. So we exclude 0.005% out of the 0.2% total tax in order to streamline how dApps work in our chain.

It was just an idea to improve this proposal which I think is interesting. To me, taxing contract executions looks like a Value-Added Tax and taxing transfers looks like (or is) a Tobin Tax.

Imo, a VAT isn’t irrelevant or illogical since we have to rebuild from the crash.

I don’t even know if we can have different taxes (except none) depending on the transaction type

[Kevin_Park]

I’m not interested in 1.2% Tax except for you and TR thieves with tax fetish. Don’t recall an offer that has already failed. Incompetent dApp developers who can’t even solve a 0.2% tax are not welcome anywhere other than the LUNC chain. Don’t cry for a tax-exempt backhole and find a way. If not, go somewhere else.

[godoal]

@Kevin_Park You ONLY contribute to this chain if you share some data and ideas other than insults. Please stick to contributing and stop using the forum to funnel your insecurities.

[Kevin_Park]

@godoal

Your plan is that of inaction. The one that benefits from inaction is DK because then he holds all the cards and can close us down trapping our coins forever once again!

TR is not the only developer group we can have but are the only developers (at present) willing to help us and actually are doing so in practice. The fact that we are able to stake, vote even discuss this proposal right now is thanks to the efforts of the TR developers.

Don’t forget DK froze the chain TR unfroze it, updated it, and gave it back to the community. If you want to bet your horse on the first that’s your call, I vote for moving forward and progress for our chain…

If you look at what he wrote, you can see who he’s inciting for. Even that comment was written when TR was found to be a thief and there was a lot of criticism. This is a fanatic of vegas or a sub-account of TR. And if you look at this proposer’s activity, you can easily predict it. dfunk and godoal are the same people, exchange hearts and protect each other with comments. Disgusting propaganda.

Agora is prone to manipulation by some development teams to incite their agenda, and their characteristics bring code or terms that are difficult for the general public to understand, blurring their greedy logic. If you don’t understand what they say, Thats not your fault or short knowledge. Because they’re talking nonsense.

If you want to open another theft opportunity for TR who already succeeded in extortion a month ago, Agree with this proposal. Silly people don’t have the ability to learn, and they make the same mistakes every time. We need to filter them out so they can’t write on Agora. It’s a cancer in the community.

[Tommy]

@Kevin_Park You did a great job. This proposal might have received favorable reviews for the instigation of thieves If you didn’t find truth. We need to drive the thieves out of the community.

[Kevin_Park]

Prove

[JESUSisLORD]

@Kevin_Park

I’m not interested in 1.2% Tax except for you and TR thieves with tax fetish. Don’t recall an offer that has already failed. Incompetent dApp developers who can’t even solve a 0.2% tax are not welcome anywhere other than the LUNC chain. Don’t cry for a tax-exempt backhole and find a way. If not, go somewhere else.

Well good for you. I’m definitely supporting a higher tax and this proposal by dfunk is a great way to achieve this through exempting dapps, so the much vaunted argument “You can’t raise tax because of dapps” can cease. I hope this proposal by dfunk goes to vote and successfully passes.

The 1.2% should never have been removed. LUNC turned into pure chaos after that, the direct introduction to minting which went even to 50/50. I was very unhappy when the 1.2% was removed, and no I have no connection with Terra Rebels. You are using their failures to the community as your weapon to bash other members. I am a community member and I post my own view of what I believe would be good for LUNC. I strongly support burning, like many others. I also like posts that I believe are good comments.

Dfunk is responsible for proposing and passing two great proposals, the removing of minting and the 5x gas increase, as well as the original distribution of the gas fees to CP/Oracle pool. This is just another one of his great proposals which will hopefully lead to a new proposal to raise the burn tax again.

[Kevin_Park]

@JESUSisLORD You are included in the candidates for the next hypocrite to be revealed. I’ve already collected all your past activities and comments. And they will be tracked as well as your reality outside the monitor. The Agora administrator is authorized to check the author’s email and IP. The sycophants who helped the TR scam will be stuffed and they should be deported.

[JESUSisLORD]

@Kevin_Park

You are included in the candidates for the next hypocrite to be revealed. I’ve already collected all your past activities and comments. And they will be tracked as well as your reality outside the monitor. The Agora administrator is authorized to check the author’s email and IP. The sycophants who helped the TR scam will be stuffed and they should be deported.

You can put your genius investigative skills to use and click my profile to see my real name listed. I am not anonymous. You can find my Youtube channel and see my face. How about you? Stop your vicious trolling of the community. Reported.

[Adri_Prans]

agree. it seems that the parasites that are blocking the progress of the blockchain lunc @Vegas and TR should all be purged from this community. because until now they still intend to cheat and steal from the community, please always be on the lookout for these thieves to slip in proposals that lead to theft again.

[JESUSisLORD]

It seems like you and your hit-squad gang of thugs use Terra Rebels as a convenient excuse to bash on community members ideas you don’t like. It is extremely inappropriate. Oh look under this rock, “It’s the Terra Rebels”. Look over that hill, “It’s the Terra Rebels”. Look there’s an idea I don’t like, “It’s the Terra Rebels”. Your acting like you are protecting the community while sowing division, chaos and hatred. Get over yourselves.

[arunadaybasu]

This proposal makes sense. I am in support of it. A yes from me.

[Tynos]

The idea is not bad at all but I would suggest to tax the staking related activities.

[godoal]

@Kevin_Park

If you look at what he wrote, you can see who he’s inciting for. Even that comment was written when TR was found to be a thief and there was a lot of criticism. This is a fanatic of vegas or a sub-account of TR. And if you look at this proposer’s activity, you can easily predict it. dfunk and godoal are the same people, exchange hearts and protect each other with comments. Disgusting propaganda.

It makes sense to be on all those posts (and even more) when you have been active since the beginning of the effort to revive the chain, check the dates when you are on them to get some “Historical Context”. Also back then there were TR, @Vegas, @dfunk, and other communities that were helping the cause.
What was your contribution apart from trying to discredit (now that the chain is safe) members who were at the forefront of reviving the chain just because you don’t have the evidence to prove the broken case that taxation is the reason for reduced volume?

@Tommy

@Kevin_Park You did a great job. This proposal might have received favorable reviews for the instigation of thieves If you didn’t find truth. We need to drive the thieves out of the community.

Quick to jump to conclusions are we?

[Tommy]

@godoal Prove that you are not a spam account first. kevin proved data that you are spam. but You’re just shouting trust me bro. It’s pathetic. You guys have lost your trust. People won’t believe you even if you make the right proposal.
Bring the project you design and clarify the problem that 0.2% tax causes. “It’s good for you!” these words have lost credibility since TR. You guys are a bunch and you clearly showed how thieves steal money. lol