Proposal for the 1.2% Tax Parameter Change

Like this proposal is meaning when i send cex to terrra station 2,000,000,000 lunc. Systemm will take commission from me auto 1.2%. this is 24,000,000 lunc?

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and back to send cex again 1.2 is meaning 24M. %2.4 lmo

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4793 | Text proposal

Voting

LUNC community statement to All Exchanges regarding 1.2% burn tax on off chain, on exchange transactions. V2

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Come lets go to vote this!!

Congratz, changes are online now! You can check here: https://lcd.terra.dev/treasury/parameters now wait for next epoch :slight_smile:

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Congrats to everyone involved. Another thing I would expect is to inform several websites, e.g., coinmarketcap, coingecko, etc., to update their sources for LUNC parameters regarding total supply, circulating supply, etc., so that it is easier for the community to follow the news.

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All exchanger should that, all transaction fee burn for reduce supply LUNC coin and help rebirth 4 this coin…

Holder also, help for this…

No, because that only lengthens the time it took to get the desired results.

@ek826 Congratz, server code works properly. Now please fix finder. It doesn´t show tax. For everyone you can check total supply of LUNC here: https://fcd.terra.dev/v1/totalsupply/luna it changes and updates now every about 5 minutes so you can see server burns 1,2 % tax.

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Till now we’ve burned ~ 254,755,205 LUNC, since 1,2% tax went online. It’s really good to see that it’s alive, altought we would need decades in that scale to reach 10B supply. Now we must keep up good work an talk to exchanges to implement tax for offline transactions. According to last 24 hrs, we had ~$450 000 000 volume. It means 1,5T of LUNC were transfered. All that gives more than 18B of tax just for one day.

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IMO - LUNC should have consolidated 1 lunc for every 10 held and burned off 90% in 1 instance

Would reduce supply from 6.9 Trillions to 690 Billion

1 comment in 130+ views on a thread I started in the GENERAL section and no comments from any devs to explain why it could be done or why it cant be done.

Provides a much faster burn and reduction of supply.

Why not consolidate LUNC 1 for 10 across entire supply - General - Terra Research Forum

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I agree to reduce to 1/10 of the current supply and also reduce the trade fee to 0.5% as we want to stimulate trade volume.

0.5 will only get us to the desired goal when I have gray hair.
I totally disagree and I would do anything to veto that decision.

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You are not analyzing properly. With U$500M daily trade volume and 0.5% fee, you would burn much more than 8B coins per day, giving 3Trillion per year. As the project succeeds, this volume could be much higher.

A fee that is too high will reduce trade volume.

A small fee on a large volume works better than trying to force something like 1.2% on Exchanges. Even 0.25% would work fine, depending on the volume.

In about 24 hrs 820M have been burned. Burn IMO looks very successful.

Most people commenting don’t realize that some CEXs are still not online with the burn due to technical issues. Binance is on that list. Wait until Binance and the others come online before attempting to push more desperate-looking proposals.

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Whoever doesn’t like the 1.2% fee should just buy another token as they are not supporting the Luna community and their goal.
You say 0.25% without even having done the calculations. How many years would it take to achieve the goal.

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The MOST important THING YOU HAVE TO WATCH for LUNC!!

The most critical
1: Contact Binance for a list of tax support.
2: Check the agree 1.2% tax button

It’s time to do what you believe in for this great community. All those who supported us will be remembered
First, we need to work with Binance. We need a list of all the friends who support and accept the transaction tax button.
To protect the interests of our supporters. I propose: subsequent LUNC development: NFT project, and some blockchain airdrop project tokens. We can airdrop them to our supporters. Play to our strengths and protect the interests of those who support us. We have to get everyone to stand with us.
We need to make it clear. If this critical step is not implemented. We are not looking at a prolonged decline in the LUNC. It’s a failure of the community. Description LUNC failed. And future failures for all of us.
We have to have a big vision that we’re going to surpass Ethereum and Bitcoin. To become the largest cryptocurrency community
If you have a long term vision and extreme confidence. You’ll see what we can do with our taxes.
We can use it as cash reserves of dollars, we can buy gold, we can even buy shares in things like Apple, Tesla, and be the debtors of the greatest companies in the world. All these stores of value. Are owned by all of our LUNC currency holders. Take a leap of imagination. How successful we can be! And in the future, when the community elections, administrators, financial personnel, governance personnel. We all have preferential voting rights!
Now for our future, for the success of the community. It’s time to choose. Select Agree and check the 1.2% tax button. That’s the first step. This is the most crucial step.
The pessimist will laugh at us, we need not listen to it. They destroy our community goals in order to avoid paying the 1.2 tax. It’s like giving up on their own future. Don’t be depressed, we need to understand. These people will not stay with us forever, because one day they will support our enemies for their own benefit.
And those of us are respected by everyone because we built this great community. Friends, let us create the Lunc kingdom of the crypto world.

Did someone noticed that, different of what is instructed on the post, delegating to a validator are charging the 1,2% fee…

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