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Binance to Support Terra Classic Upgrade Eliminating Re-Minting of Burnt LUNC Tokens

Before that, 10% of LUNC tokens were re-minted from the 0.2% burn tax after each epoch and added to the community pool. With the proposal approved, the seigniorage reward policy has been set to zero, effectively stopping LUNC re-minting from burns. The second part of the proposal was aimed at increasing the network’s gas fees by 500% to fund the community oracle pool in order to increase staking rewards, receiving almost 90% of “Yes” votes. The price of LUNC spiked…

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