Proposal to raise the KRT tobin tax to 1%

Due to the Kimchi Premium, prices for KRT are currently being directly sourced from Korean exchanges Bithumb and Coinone. This applies solely to KRT, not any other Terra stablecoins.

The prolonged freezing of LUNA deposits / withdrawals on Bithumb has resulted in a large difference in the price of KRT between the two exchanges, opening up a significant arbitrage attack vector.

To address this potential vulnerability, we propose raising the KRT tobin tax to 1% and excluding Bithumb from the feed source in the short-term.