- Terra Luna Classic community rejects a 19% tax hike with 99% ‘no’ votes.
- Growing support for EVM integration boosts optimism with enhanced programmability and interoperability.
- Decentralized governance empowers Terra Luna Classic’s community to shape the blockchain actively.
In a recent YouTube video by ClayBro, an analyst, the Terra Luna Classic community finds itself at a crossroads with two pivotal proposals. One proposes a tax increase of 3% on Terra Classic and 2% for USC tax for a temporary period of 90 days, followed by a reduction. The other, a more radical approach, suggested a whopping 19% tax hike, which met with resounding rejection from the community, with 99% of votes casting a resolute ‘no.’
The proposal to increase taxes by a modest 3% and 2% for a limited period is met with mixed reactions within the community. Some argue that such a tax increment would stifle the blockchain’s growth and potential. However, the speaker counters this argument by pointing out that major exchanges often bypass these tax proposals, and there have been instances where larger tax fees have been accepted without detrimental consequences.
The Terra Luna Classic community’s right to communicate and vote on these proposals indicates the nature by which blockchain governance is delegated. It allows participants to actively influence the direction of development, so this project is not only a speculative asset.
Despite the divisive tax proposals, the community is largely united in its enthusiasm for introducing Ethereum Virtual Machine (EVM) support. Terra Luna Classic currently stands at 12,500 points per coin, maintaining support lines, with the next significant level estimated to be between 9,500 and 10,000 points per coin.
The EVM support proposal has received over 62% of votes in favor, sparking excitement among the community and fueling hopes of a potential price rebound. The benefits of EVM support include programmability, composability, and interoperability, which can significantly enhance the Terra Luna Classic ecosystem.
Furthermore, EVM support can pave the way for optimistic transactions, rollups, and increased processing power and attract projects through its compatibility with widely-used blockchain development standards. While the financial and developmental details surrounding EVM support remain undisclosed, the community’s optimism is anchored in the potential benefits it could bring to the Terra Luna Classic project.
Currently trading at $0.0001228, the Terra Luna Classic community is at a crossroads where tax proposals and EVM support talks define where the blockchain will eventually head. These decisions confirm the decentralized governance concept sustained by the Terra Luna Classic project, led by enthusiasts.
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