TheTerracommunityintroduceda1.2%TaxBurnforallon-chaintransactionsonTerraClassicNetworkafterthepassingofproposals3568and4159.TheTaxBurnmechanismaimstoaddressLUNAClassic’ssupplyconcernsandtoreduceittoafixedsupplyof10BillionLUNAClassic.OncetheLUNAClassicsupplyreaches10billion,theTaxBurnwillbedisabled.
BitfinexisreviewingtherequiredchangestosupportthisTaxBurnmechanismandwillannouncefurtherdetailsonthislater.Inthemeantime,LUNAClassicwithdrawalsaresuspendedtemporarily.
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