LUNC News: Allnodes Supports Terra Rebels Controversial Terra Classic Proposal

Validator Allnodes favors the controversial Proposal 11479 by the Terra Rebels developer group, while the Terra Classic community remains divided on providing funds for the Rebel Station. The community believes Terra Rebels mismanaged funds provided earlier for the Rebel Station and caused FUD that caused LUNC price to fall massively.

LUNC Proposal By Terra Rebels Almost Passed

Last week, Proposal 11459 by Terra Rebels was almost passed, but validator Allnodes, with 15% voting power, voted “No” on the proposal. Allnodes said it voted “No” on Proposal 11459 due to a lack of transparency on nodes deployed and requests being handled by Terra Rebels.

Terra Rebels has provided all details including nodes and servers handling endpoint scalability and distributed storage. Terra Classic validator Allnodes has also stress-tested Terra Rebels’ infrastructure by diverting all volume of Allnodes’ public node to Terra Rebels. The test has been successful and Allnodes support Rebel Station.

“Terra Classic blockchain requires at least two independent endpoints. While there is still plenty of room for growth, I think that currently Terra Rebels endpoint is a good choice as backup endpoint for Terra Classic blockchain.”

After Allnodes voted “Yes”, the proposal is almost passed with 2 days still remaining. The Proposal 11479 has received 47% in favor, with 41% “No” and 12% “No with veto” votes. Other 13 validators including MAX, JESUSisLORD, Autism Staking, and Crypto Genesis support the proposal. Whereas, 13 validators such as TCB, Luna Station 88, HappyCattyCrypto, and LUNC DAO rejected the proposal.

Terra Rebels is seeking $37,593 worth of LUNC tokens from the community pool, with $7,593 for running costs and $30,000 for wages. The funds will help with running costs and technical support of Rebel Station Infrastructure for 3 months.

Terra Classic (LUNC) Price Breaks Below Support Level

LUNC price fell 2% in the last 24 hours, with the price currently trading at $0.000113. The 24-hour low and high are $0.000112 and $0.000115, respectively. Furthermore, the trading volume has decreased by 11% in the last 24 hours, indicating a decline in interest among traders.

Terra Classic has broken below the key support level of 0.00012 as the community is facing a crisis as core developers Ed Kim and Tobias “Zaradar” Andersen left the Joint L1 Task Force developer team.

Also Read: Nasdaq-Listed Bitcoin Mining Company Buying Miners Worth Millions