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We’re proposing a TAX & BURN mechanism to be added to the current LUNA.
3% TAX on all transactions of which the breakdown is 2% Burnt + 1% stored in treasury to hold as collateral for UST.
In addition to this we propose removing the link between UST and current LUNA + Remove minting ability on current LUNA.
The above proposal will ensure original LUNA can reduce its supply efficiently and help bring back UST in a collateralized form backed 1-1 with LUNA
Taxes won’t work while there are vultures and cockroaches holding millions and billions of Luna.
Plus you can’t tax CEX.
Going some way towards an end goal, is perhaps better than not moving at all.
as Do Kwon said in Twitter response to burn proposal: If u set the tax cap to 0.1 it limits the total tax paid in any txn to 0.1 sdr (14 cents) Also you need to formulate a paramchangeproposal not a textproposal