12161 | Development Proposal: Enabling Wallet Whitelisting
Source from:
- https://validator.info/terra-classic/governance/12161
- https://station.terraclassic.community/proposal/columbus-5/12161
- https://common.xyz/terra-luna-classic-lunc/discussion/26768-development-proposal-enabling-wallet-whitelisting
Development Proposal: Enabling Wallet Whitelisting
Dear LUNC Community!
This proposal aims to introduce a whitelist mechanism that allows the community to flexibly manage tax-free whitelist addresses. By implementing this, exchanges and key stakeholders or any partners can be exempted from tax through one-way transactions like Coininn or two-way like Binance.
This initiative is inspired by the approved CoinInn Off-chain Burns proposal (11824) by the Global LUNC Burn Initiative.
Proposal link: https://validator.info/terra-classic/governance/11824
Forum discussion: https://common.xyz/terra-classic/discussion/13261-enabling-coininn-offchain-burns?tab=0
And the approved proposal: WhiteList Dapp Contracts From Burn Taxes (11516)
Proposal link: https://validator.info/terra-classic/governance/11516
Summary
Purpose
The primary objective of this proposal is to develop a whitelisting system that meets all the requirements of the above two proposals, allowing the community to efficiently add or remove addresses from the tax-free list. This system ensures flexibility and fairness in handling different use cases, such as Coininn, Binance…etc. Both The CoinInn proposal and WhiteList Dapp Contract proposal demonstrated the need for such a mechanism, but our approach extends beyond a single entity. Any exchange, project, or initiative that aligns with the community’s objectives can benefit from this framework.
Benefits of Wallet Whitelisting
- Enhanced Flexibility: A community-controlled whitelist allows easy management of tax-exempt addresses.
- Improved On-Chain Operations: Exchanges and whitelisted entities can perform transactions more efficiently, leading to a more active and functional network.
- Whitelisting of the burn wallet will result in 100% burns
- Attracting more partners, CEX organizations looking to partner with the LUNC ecosystem
- In addition, there are many other benefits, people can study each proposal to understand the details.. Further details about this initiative can be found in the below links: Proposal CoinInn Off-chain Burns:
Technical Implementation
Solution 1: Build Tax Exemption Module
This module will implement all the features of the proposal, allowing the community to add, modify, and remove addresses from the tax-exempt whitelist.
BLV Labs has discussed technical solutions for this proposal with StrathCole and learned that last year he also developed a Tax-Exemption module with similar features.
- Check code here: https://github.com/StrathCole/core/tree/whitelisting-v1
Therefore, we and StrathCole have agreed that the most effective approach is for us (BLV Labs) to use and continue refine this module to fulfill all the requirements outlined in the proposal, including:
- Reviewing and evaluating the code of the Tax Exemption module
- Adding features and requirements (new API/CLI) based on the current module (if necessary)
- Writing unit tests for all function of the module
- Supplementing the technical documentation
- Creating test cases and testing in the LOCAL environment
- Conducting tests in the LUNC TESTNET environment.
Solution 2:
We will choose to implement solution 1. However, this is solution 2 (backup), used in case solution 1 cannot be executed.
- Enhancements to the Tax Module
- Modify the tax module to incorporate tax exemption logic for approved whitelisted addresses.
- Provide functions and CLI tools for the community to easily add or remove wallet addresses from the whitelist.
Implementation Timeline
Week 1
- Conduct in-depth research, review on Tax Exemption & Tax modules
Week 2
- Adding features and requirements (new API/CLI) based on the current module (if necessary)
- Writing unit tests for all function of the module
Week 3
- Supplementing the technical documentation
- Creating test cases and testing in the local environment
Week 4
- Conduct final testing in the lunc testnet environment
Total Timeline: 4 weeks
Total Budget: $8,000
Note: This is a text proposal, not a community spend request. Once development is completed, we will submit a follow-up proposal for funding if necessary.
We encourage the community to support this initiative as it provides a scalable solution that benefits the entire LUNC ecosystem while also fulfilling the objectives set by the CoinInn proposal.
Thank you for your support!
BLV Labs
