Terra Luna Classic’s Tax2Gas Implementation to Launch in July Amid Price Speculations

Terra Luna Classic

Terra Luna Classic’s Tax2Gas Implementation to Launch in July Amid Price Speculations

• – title start — Terra Luna Classic’s Tax2Gas Implementation to Launch in July Amid Price Speculations — title end —

• – start content —

The Terra Luna Classic community is eagerly anticipating the Tax2Gas implementation, set to launch in July. This innovation is expected to bring significant changes, including converting payable taxes to gas fees.

Points

• Terra Luna Classic’s Tax2Gas implementation is scheduled for completion by the end of July.
• The upgrade includes converting payable taxes to gas fees, improving functionality.
• The project has an estimated budget of $25,000.
• Market speculations suggest a potential price boost for LUNC.

Technical Advancements and Testing

Genuine Labs, the core L1 developer, announced that the Terra Luna Classic community is looking forward to the upcoming Tax2Gas implementation. Approved under proposal 12115, this upgrade is expected to automate essential features, including converting payable taxes to gas fees. The project, which requested five weeks for development and basic testing, has an estimated budget of $25,000.

According to a biweekly update given on June 9, the Genuine Labs team has been diligently working on the Tax2Gas module. Notable changes include updates to the WebAssembly （wasm） handler plugin and upgrading the handler itself. Users can track the project’s development on the Terra Classic GitHub. The next tasks will involve unit tests for the new module, End-to-End （E2E） tests, manual tests, and testnet implementation.

Market Implications and Speculations on Terra Luna Classic

The upcoming Tax2Gas implementation has sparked speculations about a potential price boost for LUNC. Predictions from within the community suggest that LUNC could rise to $1 following the upgrade. This optimism is fueled by expectations of dApps returning to the chain and a significant boost in LUNC burn.

Analysts have also noted the performance impact due to external factors such as the German government’s Bitcoin selloff. The Terra Luna Classic community hopes that the successful completion of the Tax2Gas upgrade will positively influence LUNC’s price and overall market dynamics. Simplified processes for developers and seamless performance are expected to enhance the value of LUNC.

Explanation

• Technical Advancements: The Tax2Gas implementation is a significant technical upgrade that will automate the conversion of taxes to gas fees, improving the network’s functionality.
• Development Process: The project involves detailed development and testing phases, ensuring a robust and efficient implementation.
• Market Speculations: Positive community sentiment and market speculations suggest that the upgrade could lead to a price increase for LUNC, potentially reaching $1.
• Broader Impact: The successful implementation of Tax2Gas is expected to attract dApps back to the Terra Luna Classic chain, boosting the ecosystem and increasing the burn rate of LUNC.