In a recent YouTube video by ClayBro, an analyst, the Terra Luna Classic community finds itself at a crossroads with two crucial propositions. One proposes a 3% tax increase on Terra Classic and 2% USC tax for a temporary 90-day period, followed by a reduction. The other, a more radical approach, suggested a huge 19% tax increase, which met with resounding rejection from the community, with 99% of votes casting a firm “no.”
The proposal to increase taxes by a modest 3% and 2% for a limited period is met with mixed reactions within the community. Some argue that such a tax increase would stifle the growth and potential of blockchain. However, the speaker counters this argument by pointing out that major exchanges often bypass these tax proposals, and there have been cases where higher tax rates have been accepted without harmful consequences.
The Terra Luna Classic community’s right to communicate and vote on these proposals speaks to the nature by which blockchain governance is delegated. It allows participants to actively influence the direction of development, so this project is not just a speculative asset.
Despite the controversial tax proposals, the community is largely united in its enthusiasm for introducing support for the Ethereum Virtual Machine (EVM). Terra Luna Classic currently stands at 12,500 points per coin, holding support lines, with the next significant level estimated between 9,500 and 10,000 points per coin.
The EVM’s support proposal received more than 62% of yes votes, sparking enthusiasm in the community and raising hopes of a potential price rebound. The benefits of EVM support include programmability, composability, and interoperability, which can significantly enhance the Terra Luna Classic ecosystem.
Additionally, EVM support can pave the way for optimistic transactions, rollups, and increased processing power, and attract projects due to its compatibility with widely used blockchain development standards. While financial and development details surrounding EVM support remain under wraps, community optimism is anchored in the potential benefits it could bring to the Terra Luna Classic project.
Currently trading at $0.0001228, the Terra Luna Classic community finds itself at a crossroads where tax proposals and EVM support talks define the direction the blockchain will take. These decisions confirm the concept of decentralized governance supported by the enthusiast-led Terra Luna Classic project.
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