The Terra Luna Classic developer group Genuine Labs has proposed to go ahead with the Tax2Gas implementation
Introduction
The Terra Luna Classic developer group Genuine Labs has proposed to go ahead with the Tax2Gas implementation. Tax2Gas will incorporate the tax into the gas and remove the need for separate handling and calculation, revising the burn tax. The proposal aimed to increase the on-chain tax rate to 1.5%, which brings back to the original intentions of the project.
Benefits of Tax2Gas Implementation
One of the key benefits of the Tax2Gas implementation is the simplification of the tax process. By incorporating the tax into the gas fees, users will no longer need to worry about calculating and paying a separate tax. This will make transactions more streamlined and efficient for users on the Terra Luna Classic platform.
Additionally, increasing the on-chain tax rate to 1.5% will help to generate more revenue for the project. This revenue can be used for further development and enhancements to the platform, ensuring its long-term sustainability and growth.
Overall, the Tax2Gas implementation is a positive step for Terra Luna Classic, as it will streamline the tax process and increase revenue for the project.
How will this affect me?
As a user of the Terra Luna Classic platform, the Tax2Gas implementation will affect you by simplifying the tax process. You will no longer need to manually calculate and pay a separate tax, as it will be automatically incorporated into the gas fees. This will make transactions smoother and more convenient for you as a user.
How will this affect the world?
The Tax2Gas implementation by Terra Luna Classic could have a positive impact on the wider cryptocurrency and blockchain world. By streamlining the tax process and increasing revenue for the project, it sets a precedent for other platforms to follow suit. This could lead to more efficient and sustainable blockchain projects in the future, benefiting the entire industry.
Conclusion
The decision by Genuine Labs to go ahead with the Tax2Gas implementation is a positive step for Terra Luna Classic. By simplifying the tax process and increasing revenue for the project, it will benefit both users and the wider blockchain world. Overall, this move signifies a commitment to efficiency and sustainability in the cryptocurrency space.
