Crypto Live NewsAuthor: Nidhi Kolhapur
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Author: Nidhi KolhapurNidhi Kolhapur 
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Jun 5, 2024 20:57
Nidhi Kolhapur
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The Terra Luna Classic developer group Genuine Labs has proposed to go ahead with the Tax2Gas implementation. Tax2Gas will incorporate the tax into the gas and remove the need for separate handling and calculation, revising the burn tax. The proposal aimed to increase the on-chain tax rate to 1.5%, which brings back to the original 1.2% burn tax, with 0.3% to fund the chain by the current on-chain 80/20% tax split. Tax2gas can tackle the current problems related to burn tax, presenting a simple and efficient approach, and will also prevent attacks on Terra Luna Classic using the e2e-test. LUNC price jumped 2% in the last 24 hours amid positive sentiment.
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