Announcements Gate.io Blog：Bet On 1 USD‘s Future with Burning -- What Is the LUNC Tax Burning Proposal

Gate.io Blog：Bet On 1 USD‘s Future with Burning -- What Is the LUNC Tax Burning Proposal

2022-09-07 10:24:20 UTC 46808 Read

【TL; DR】

🔹 The generous staking mechanism and the 1.2% tax burning proposal effectively helped LUNC price soar.

🔹 1.2% tax burning is difficult to promote in centralized exchanges.

🔹 Can LUNC holders make profits based on "burning"?

The surge adverse the long-cycle bear market can always inspire people. The recent proposal of Terra Classic tax burning caused a sensation in the community and pushed LUNC to the price peak at one stroke.

The surge adverse the market originated from a generous staking mechanism launched by Terra Classic on August 27. Users can obtain an annual interest rate of 37.8% if they entrust the LUNC to the validator. Within 24 hours after the release of this mechanism, LUNCs exceeding 1% of the supply of LUNCs have been staked. In addition, the tax burning proposal adds another catalyst to the rising momentum of LUNC.

For more details, please refer to our blog post：Bet On 1 USD‘s Future with Burning -- What Is the LUNC Tax Burning Proposal

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