Terra Luna Classic (LUNC) Community Approves Major Proposal
The Terra Luna Classic community has approved a major proposal to minimize “spam” proposals, which have increased significantly after a drop in LUNC prices in recent months. A new proposal is put up for voting to increase the minimum deposit amount from 1 million LUNC to 5 million LUNC. Traders didn’t immediately respond to the passing of the proposal.
Terra Luna Classic Proposal to Prevent Spam Proposals Passed
Proposal 11780 “Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC” has surpassed the pass threshold.
CoinGape earlier reported that it aims to increase the minimum deposit amount from 1 million LUNC to 5 million LUNC, making it difficult for scam proposals to pass the deposit stage. This will help combat “spam” and irrelevant proposals for voting by the Terra Luna Classic community.
The proposal has received 94.30% “Yes” votes, indicating that the majority in the community favors it. Also, it gets 5.43% votes, along with No with veto and Abstain votes.
Among 40 validators turnout, 37 favored the proposal including Allnodes, Interstellar Lounge, Orion HappyCattyCrypto, and TCB. Whereas, JESUSisLORD and StellarDrift rejected the proposal and Vegas Node voted “Abstain.” Validators agree that 1 million LUNC is no longer sufficient to discourage these unwanted proposals.
Meanwhile, the L1 Terra Classic Task Force has successfully completed the v2.2.1 core upgrade, which took more than 8 hrs. Some validators are still offline and Terra Classic Station and Finder are working again.
LUNC price continues to trade under pressure despite the upgrade and recent passing of key proposals. It currently trades at $0.000057, with the 24-hour low and high of $0.0000570 and $0.0000584, respectively.
Also Read:
- Core CPI Inflation Falls To 4.3%; Bitcoin, Ethereum, XRP To Rebound?
- Hedera Launches Stablecoin Issuance And Management Solution, HBAR Price Jumps
- Ripple President Makes Big Statement On Ripple Vs US SEC Lawsuit
- ‘Great Progress’: Cardano Founder Shares Update After CLARITY Act Roundtable
- Jerome Powell Signals No Rush to Cut Rates, Bitcoin Falls
- FOMC Meeting: Fed Makes First Rate Cut of the Year, Lowers Rates by 25 Bps
- “Beyond a Centralized Exchange” Bitget CEO Unpacks Universal Exchange Vision on 7-Year Anniversary
- Breaking: CME Group to Launch Solana and XRP Futures Options as Institutional Demand Grows
- Toshi Coin Gains 57% in One Day: What’s Driving the Sudden Upside?
- Shiba Inu Price Set to Soar as Exchange Reserves Dive Amid SHIB ETF Chatter
- Pepe Coin Price Prediction as Whale Moves $25M From Robinhood- Is a Breakout to $0.00002 Next?
- XRP Price Prediction as Market Longs Hit 78% amid VivoPower Treasury Expansion Launch — Is $4 Next?
- SHIB Price Forecast: Taker Buys Lead as Developers Counter Shibarium Exploit
- Solana Price Set for a 25% Jump as Open Interest Nears a $20 Billion Milestone
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
