With the FeeShare module, Terra Blockchain presents a fee-sharing proposal with the goal of rewarding value creation and giving contract owners and LUNA stakeholders a portion of transaction fees.
In order to promote a robust ecosystem, Terraform Labs has pledged to match 50% of the fees collected by smart contracts until 2025.
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Encouragement of the Terra Economy, Proposal 4790
Proposal 4790, a bold initiative to stimulate the Terra economy by utilising the extensive resources of Terraform Labs (TFL), was adopted by the Terra community with unanimous votes.
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The scene is set for Terra’s expected multiyear expansion phase with this crucial approval. Building on this momentum, a formal proposal has been released for the integration of the FeeShare module on Terra.
Introducing the Module for Feesharing
A revolutionary innovation to the Terra blockchain, the FeeShare module distributes a percentage of the transaction fees collected on-chain to teams who enhance the network.
50% of all transaction fees produced by a Terra smart contract will now be paid directly to the contract owners with the installation of this module. Stakeholders in LUNA will get the remaining 50% as additional compensation for their involvement in the network.
Terraform Labs’ Dedication
In an incredible demonstration of support, Terraform Labs has promised to compute the fees produced by Terra smart contracts and, up until January 2025, match 50% of the revenues received in stablecoins.
Teams will get a whopping 75% of the fees produced on-chain when these matching fees are paid to the addresses provided by the contract owners. This pledge from Terraform Labs demonstrates their commitment to building a robust ecosystem that encourages and rewards value creation.
Terra’s Path to Earning Back Glory
With a mission to restore its previous splendour, Terra, the blockchain that sprang from the original Terra platform (now called Terra Classic), has been moving towards that goal.
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Accepting a Bright Future
An important turning point in Terra’s development trajectory is the plan to include the FeeShare module into the Terra network. Terra is positioned to cultivate a robust and sustainable ecosystem through the provision of direct benefits to LUNA stakeholders and contract owners, as well as incentives for value development.
The community’s resounding support will determine the proposal’s outcome, which may fundamentally alter Terra’s destiny and place it atop the blockchain hierarchy.
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