The Terra Luna Classic (LUNC) community has breathed a sigh of relief after successfully passing the highly anticipated Tax2Gas upgrade. This critical development, spearheaded by Genuine Labs, aims to revolutionize the token’s ecosystem by automating the tax calculation process and integrating it into transaction gas fees.
Previously, LUNC holders and validators were grappling with the complexities of manual tax calculations, a process prone to errors and inefficiencies. The Tax2Gas upgrade is a game-changer, streamlining operations and promising smoother transactions. By embedding the tax calculation directly into gas fees, the module simplifies the process for users and validators alike.
The community’s enthusiasm for the upgrade is evident in the overwhelming support it garnered, with over 67% of validators and delegators casting their votes in favor. This collective decision is a testament to the community’s belief in the upgrade’s potential to revitalize the LUNC ecosystem.
In the immediate aftermath of the upgrade’s approval, LUNC experienced a surge in price, igniting hopes of a potential rally. However, the gains proved short-lived as the token’s value retreated. While this temporary setback might dampen some enthusiasm, experts remain cautiously optimistic about LUNC’s long-term prospects.
Collin Brown, a prominent crypto supporter and blockchain researcher, highlighted the potential impact of the Tax2Gas upgrade on LUNC’s utility. He suggested that significant price increases could be on the horizon, with some even speculating about a potential surge to $1. While these predictions are met with both excitement and skepticism, they underscore the community’s belief in the upgrade’s transformative power.
It’s important to note that the Tax2Gas upgrade is just one piece of the puzzle. The recent LUNC burn conducted by Binance, which saw over 1 billion tokens sent to a dead address, is another attempt to bolster the token’s value by reducing its circulating supply. However, the impact of this burn on the market price has been relatively muted thus far.
As the LUNC community eagerly awaits the full implementation and testing of the Tax2Gas upgrade, the crypto world watches with keen interest. Whether this upgrade will be the catalyst for a LUNC resurgence remains to be seen. However, one thing is clear: the community’s determination to revive the token is unwavering.
