LUNC News: Terra Classic Community Makes Crucial Move With Allnodes

Highlights
- Terra Classic community voing to bring an official organization for management of endpoints.
- A proposal will make validator Allnodes to protect against single individuals making unauthorized changes to the supply.
- LUNC and USTC prices near breakout for a rally.
LUNC News: Terra Luna Classic community started voting on a key proposal to bring an official organization to be in charge of hosting the endpoint providing the correct circulating supply data for Terra Luna Classic. Top validator Allnodes will manage the endpoint to protect against single individuals making unauthorized changes to the supply without approval.
Terra Classic Brings Allnodes For Endpoint Management
Proposal 12103 “Change official CS API endpoint to Allnodes FCD” is currently under voting on the Station wallet, with the voting to end on May 18.
The proposal aims to secure an official organization to host the endpoint providing the correct circulating supply data for Luna Classic. It recommends top validator Allnodes for the role of providing the endpoint. Furthermore, it seeks to get a consensus about the method of calculating the circulating supply.
Allnodes will be required to update to the latest FCD version and implement the following calculation of circulating supply: Circulating Supply = Total Supply – unvested Tokens – Community Pool Holdings – Staked and bonded tokens.
This will help any third-party website to refer Allnodes FCD API as the official information source for Terra Luna Classic circulating supply of LUNC, USTC, and other native tokens. This also lowers the risk of individuals changing circulating supply or total supply, without appropriate discussion and input.
The proposal has received 56% “Yes” votes, along with 3% “No”, 41% “No with veto”, and 1% “Abstain” votes. Majority of validators including Community First LUNC, Hexxagon, LUNC Development Fund, and others has voted in favor of the proposal, but top validators are yet to vote.
Also Read: Terra Luna Classic (LUNC), USTC Removed From Luna Foundation Guard
LUNC and USTC Nears Upside Breakout
LUNC and USTC prices skyrocketed recently after the news of decline in circulating supply. This has also restored burn and destroy narrative in the Terra Luna Classic community. The community also seeks to burn USTC and LUNC in the LFG wallet to reflect in total supply.
LUNC price is currently up 1% over the last 24 hours, with the price currently trading at $0.0001052. The 24-hour high and low are $0.0001007 and $0.0001062, respectively. Moreover, the trading volume has increased further by 28% in the past 24 hours, indicating buying by trades. An analysis by CoinGape Markets predicts a target price of $0.0005.
Meanwhile, USTC price fell 2% in the last 24 hours, with the price currently trading at $0.0227. The 24-hour low and high are $0.02233 and $0.02389, respectively.
Also Read:
- Binance Subsidiary Receives Top Privacy & Security Certifications From BSI
- Ripple Versus Tether: Brad Garlinghouse Douses Tension In Latest Comment
- Bitcoin To Hit New High If It Breaches This Level, Analyst Predicts
- ASTER Deposits Flows Into Binance Wallets Following CZ Endorsement, Listing Incoming?
- Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle
- Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings
- Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy
- XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
- Shiba Inu Price to Surge as Whales Buy and Team Commits to Shibarium Growth
- XRP Price Prediction After Ripple CTO David Schwartz Resigns
- SUI Price Eyes $4.5 as Coinbase Futures Listing Sparks Market Optimism
- Chainlink Price Holds $20 Support Amid Tokenization With DTA Standard Progress – Is $47 Next?