A new proposal to allocate 50% of all LUNC burns to the community pool to fund on-chain development has sparked outrage in the LUNC community.

Yesterday, @reXxTerraRebels, AKA reXx, brought the community’s attention to a new proposal that will allocate 50% of all token burns to the community pool to fund development currently up for voting on the Terra Station.

Notably, community influencer Classy also shared the proposal hours later. But, like reXx, he refrained from giving an opinion on it.

Cosmos Capybara, a Cosmos validator, authored the proposal. The proposal with ID 10983 asserts that the community pool is grossly underfunded and threatens the community’s ability to fund high-cost development activities. Consequently, Cosmos Capybara believes the correct action is a parameter change allocating 50% of all Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) burns to the community pool at the end of every epoch.

(By Mark Brennan)