The Terra Luna Classic community has begun voting on a groundbreaking proposal to implement Tax2Gas, a system that integrates tax into gas, simplifying the process for developers and reducing complexities.

Tax2Gas Proposal Gains Momentum

Proposal 12115, "Genuine Labs Tax2Gas Implementation," is currently under governance voting on Station wallet. The proposal, put forth by Genuine Labs, aims to incorporate tax into the gas and prevent potential attack vectors using e2e-test. At press time, the proposal has received an overwhelming 99.98% "Yes" vote, indicating the community's acceptance of the Tax2Gas implementation.

Community Support

All validators who participated in the vote have supported the proposal, including JESUSisLORD, StakeBin, Ninja Node, and others. This proposal aims to resolve issues faced by contract developers, who currently need to manually calculate tax, and clients or dApps, which have to calculate tax themselves.

Estimated Budget and Timeline

The estimated total budget for the proposal is $25,000 in LUNC, and developers require five weeks for research, development, and basic testing and deployment.

LUNC and USTC Prices Climb

LUNC price has jumped 4% in the last 24 hours amid positive sentiment due to cooling CPI, currently trading at $0.0001049. The 24-hour low and high are $0.00009855 and $0.0001057, respectively. Trading volume has increased by 20% in the last 24 hours, indicating interest among traders. However, the price still needs to soar above the key level of $0.00012 for a massive rally in the Terra Classic ecosystem tokens.

USTC Price Also Climbs

USTC price has climbed more than 3%, currently trading at $0.02378. The 24-hour trading volume saw a mere 5% rise in the last 24 hours as traders await the Fed interest rate decision post-FOMC today.