Buy $GGsLUNC News: Terra Luna Classic’s Vision For Revival And Better Governance
Terra Luna Classic community members Happy Catty Crypto and StrathCole have proposed a united vision for the revival of the chain. It lays out ideas and proposals for the chain, as well as invites developers, community members, validators, and stakeholders for shaping the future of Terra Classic amid rising FUD and massive drop in LUNC and USTC prices.
Proposal For Terra Luna Classic Revival
Terra Luna Classic validator Happy Catty Crypto in a post on August 18 announced “Terra Classic Expedition: A united vision.” It outlines a vision and highlights key developmental milestones, not Level 1 work, such as routine updates, mandatory security patches, and feature implementations.
According to the vision paper, it aims to enhance development work, lower costs, increase transparency, and replace the on-chain tax with a better alternative.
It proposes “paid-per-milestone” weekly payments for developers through smart contracts to increase transparency and incentivize project completion. Also, implementing a dynamic commission module for validators, integrating a native discussion platform into the official Terra Classic Wallet, and facilitating user onboarding with Station on-ramps.
In addition, it aims to increase security and trust by mandating developers to undergo a voluntary KYC process, with a verification process done via Github assets and pull requests. In order to prevent funding for both Allnodes and Hexxagon endpoint infrastructure, it recommends separating Hexxagon’s spend proposals.
Furthermore, the paper proposes to replace the current 0.5% on-chain tax with a better dynamic approach that makes it easier for entities and dApps to convert projects between Terra Luna Classic and non-tax chains like LUNA. It also suggests the integration of a text field within the voting section of the Station for voting reasons.
LUNC price currently trades at $0.000062, down 6% in the past 24 hours. The 24-hour low and high are $0.0000571 and $0.0000667, respectively. Meanwhile, USTC price is trading at $0.012, down 8% in the past 24 hours.
Also Read:
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- $2T Barclays Explores Blockchain For Stablecoin Payments and Tokenized Deposits
- Breaking: U.S. PPI Inflation Rises To 2.9%, BTC Price Falls
- XRP News: Ripple-Backed Ctrl Alt Completes $280M in Diamond Tokenization on XRPL
- Bitwise CIO Calls Bitcoin Selloff ‘Classic Cycle,’ Dismisses Manipulation Rumors
- Cardone Capital Takes Real Estate On-Chain With $5B Tokenization Plan
- Top Analyst Predicts Pi Network Price Bottom, Flags Key Catalysts
- Will Ethereum Price Hold $1,900 Level After Five Weeks of $563M ETF Selling?
- Top 2 Price Predictions Ethereum and Solana Ahead of March 1 Clarity Act Stablecoin Deadline
- Pi Network Price Prediction Ahead of Protocol Upgrades Deadline on March 1
- XRP Price Outlook As Jane Street Lawsuit Sparks Shift in Morning Sell-Off Trend
- Dogecoin, Cardano, and Chainlink Price Prediction As Crypto Market Rebounds
