23. [Hard] Tax Rate
Below show the tax rate over past 10 weeks. Since tax reward per luna = tax reward/ total staked luna, this means more staked luna will lead to lower tax rate. Next is the seignorage reward, over past 10 weeks we can see the amount of LUNA swap to Terra is decreasing slowly. Less swap lead to less seignorage reward since this reward is occur when LUNA is being swap to Terra. Hence further reduce the tax rate.