Terra Classic Developer Edward Kim spoke with another suggestion for the community. It aims to recover lost fees between September 21st and 28th last year, after a 1.2% incineration tax was activated on the Terra Classic blockchain.
Follow up proposal for those lost #lunc fees between September 21-28th. Please share your comments https://t.co/0GVOgCLFBl
— Edward Kim (@edk208) January 22, 2023
After the activation of the 1.2% token burn on September 21, some transactions were retracted, but the burn tax was charged, causing investors to lose their LUNC. According to Edward Kim, the transactions on the testnet were successful, but the transactions on Columbus-5 involved the use of gas, which caused the problem.
Software developer and Terra Classic contributor StrathCole found 10,927 transactions that failed during the week. The total refund amount is 295 million LUNC tokens.
Of the total refund, 165 million LUNC came from CEX wallets, the rest came from unidentified wallets. The Terra Grants Foundation (TGF) will contact CEX to find the best way to refund LUNC tokens. Wallets that are eligible for a refund of less than 10 LUNC will not be taken into account.
The developers have already prepared scripts on GitHub to refund 2214 wallets with 5-10 million LUNC holding almost 131 million LUNC tokens. Any amount that cannot be determined will be returned to the general pool.
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