- Terra Classic’s (LUNC) new development proposal 11111 is to repeal proposal 10983.
- LUNCLIVE host tweeted this and stated that LUNC indirectly supports Binance.
Terra Classic’s (LUNC) new development proposal 11111 is to repeal proposal 10983. Which mints 50% of all burns and is now live on the terra station and open for vote. Mr. Diamondhandz1, the LUNCLIVE host, tweeted this and stated that Terra Classic indirectly supports Binance.
BREAKING: Proposal #11111 to REPEAL proposal #10983 which mints 50% of all burns is now live for voting on Terra Station. It’s time for the #LUNC community to support #Binance like they supported us. Get out and vote! 💎🤲🏻 #Crypto $LUNC pic.twitter.com/EX99UIBQA1
— Mr. Diamondhandz1💎 (@MrDiamondhandz1) December 20, 2022
The 10983 parameter modification proposal raises the reward policy rate min to 0.5. That allows 50% of all burn transactions in a particular epoch is mint at the conclusion of the said epoch. It has the major benefit being quick capital and hand under the rate min of 0.1. And, with the parameter modification, the community could have allocated 400% more to the community pool at the end of the lasted epoch from Nov 21-28.
Updates of LUNC Proposal 11111
According to Matts Market, Co-owner of the LUNCLive Validator who proposed 11111. Matts recommends that the proposal will repeal and the code changes implemented in that proposal will reverse. Matts said that there is a risk of alienating our largest supporters down to our retail investors if proposal 10983 is allowed to remain active.
Furthermore, He also stated that he believes it is in the best interests of the community to rather repeal the prior 0.2% tax and redirect 10% of the burning tax to the community pool for the time being. And they expected the development to provoke a slew of replies, with the majority of them highlighting the new idea as the way forward for the Terra Classic community.
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