NewsletterTerra Luna Classic Community Approves 256 Million LUNC Community Pool Spend
Highlights
- Terra Luna Classic community unanimously passed a spend proposal by Genuine Labs developer group.
- Genuine Labs has received over 256 million LUNC tokens from community pool.
- LUNC and USTC prices fell under support.
Members of the Terra Luna Classic community have passed a proposal by Genuine Labs developer group that will see the disbursement of funds to developers for the work done in the last few months. The proposal represents tasks undertaken including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
Terra Luna Classic Disburse 256 Million to Genuine Labs
Genuine Labs has successfully received more than 256 million LUNC worth $30,000. The Terra Luna Classic community passed proposal 12113 “Genuine Labs’s Community Spend Proposal” after checking and considering the latest tasks including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
Genuine Labs has successfully provided Security Upgrade Packages in the Terra Classic v3.0.1 upgrade. It also offered improvements including fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain.
The proposal received overwhelming support from the community. It recorded 99.93% votes in favor from the community members and validators. All 46 validators including Allnodes, Interstellar Lounge, Interstake One, and others who participated have voted in favor of the community pool spend proposal.
The Terra Luna Classic community currently has 5.23 billion LUNC after the disbursement of 256 million LUNC to Genuine Labs.
Also Read: Terra Luna Classic Set To Implement Tax2Gas and End LUNC Burn Tax?
LUNC Price Awaits Another Push
LUNC price trading 7.89% down in the last 24 hours despite an earlier uptick, with the price at $0.00009926. The 24-hour low and high are $0.00009875 and $0.0001081, respectively. Moreover, trading volume decreased slightly in the last 24 hours.
However, derivatives trading data indicates buying in the last few hours as traders analyze markets before the FOMC meeting.
Meanwhile, USTC price fell more than 1%, with the price changing hands at $0.02128. The 24-hour trading volume saw a 40% rise in the last 24 hours, indicating interest among traders.
Also Read:
- Binance CEO Richard Teng Spotlights Milestone, Web3 Innovation, Billion Users Roadmap
- XRP News Today: XRP Healthcare Makes Big Move In Mergers & Acquisitions
- Bitcoin Notes $2B Inflows But Ethereum Steals The Spotlight, Here’s Why
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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- December Recovery Ahead? Coinbase Outlines Why Crypto Market May Rebound
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- CoinShares Fires Back at Arthur Hayes, Dismisses Fears Over Tether Solvency
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
