The Terra Luna Classic community has rejected a proposal to raise the burn tax to 1.5%. Members expressed frustration over frequent suggestions to modify the burn tax, particularly proposals for increasing it.

The community disapproved Proposal 12105, titled "Increase burn tax," due to insufficient justification and perceived lack of effort. The proposal, which was a text proposal and not a parameter change, garnered only 21.35% approval. It would not have altered the tax without a detailed proposal and community discussion. Voting results showed 32% "No" and 38% "No with veto," reflecting the community's resistance to changing the burn tax. Validators also opposed the proposal, citing the absence of data and supporting strategies.

Recently, the community decided to allocate the LUNC burn tax to the oracle pool rather than rewards, with 70% approval and support from 37 validators. The current burn tax rate is 0.5%, with 80% allocated for burning and 20% split equally between the Community Pool and the Oracle pool.

Following the rejection, the LUNC price increased by 1% within 24 hours, trading at $0.0001145, and trading volume surged by 70%, indicating growing trader interest. Meanwhile, USTC remained stable at $0.02237.