The Terra Luna Classic proposal for a community-led Commonwealth platform is passed by the Terra Luna Classic community despite pushback from some members. The proposal aimed to depart from the current third-party Commonwealth forum to enhance unbiased moderation and ensure consistency by establishing an official forum. Traders reacted to the news and LUNC and USTC prices rebounded.
Proposal 11947 “Create official community commonwealth platform” is approved by the community, indicating the need for a community-led commonwealth platform.
The proposal surpassed “pass threshold” and received 79% “Yes” votes in favor of the proposal. It also got 11 “No”, 1% “No with veto” and 10% “Abstain” votes.
Among 60 validators who participated in the governance voting, 35 has voted in favor of the proposal. Also, 4 voted “No” and 2 voted “No” with veto, while others voted “Abstain”. Allnodes, Interstallar Lounge, HappyCattyCrypto, TerraCVita, StakeBin and other top validators have voted in favor of the proposal.
Air Force Lunc, Axiom Consortium, Ben Smith ( Lunable Labs), BRLG Lunc Brasil, cryptolitaz, Crypto Thai Community, Daniel Reichelmam, Derek, DNC, Evert, Faby Stark, FireFi Capital, Frag, Getty Investments, Lunaclassiclabs, Lunanauts, LUNCninja Node, LVS Node Validator, Mazaltech, MdicinalNFT , Morja Alex, NaatiePaat, Neung Handsome, Pink Unicorn, Raja Bibi, Romain Camus, Rostrum, SolidVote Validator, Strathcole, Tom Homes, Vegas, and Ze Waffle.
“The existing third-party platform has exhibited numerous inadequacies, serious cases of racism, doxxing, and harassment, poorly moderated and in most instances, not addressed at all, requiring urgent need for improvement,” as per the proposal.
Read More: Terra Luna Classic Community Officially Rejects Major 800 Mln USTC Burn Proposal
Terra Luna Classic ecosystem tokens are trading under selling pressure and slowly giving up all gains of the Binance-led LUNC and USTC prices rally during early December. An upside momentum in the broader crypto market will only bring a recovery in LUNC and USTC prices.
LUNC price jumped 4% in the past 24 hours, with the price currently trading at $0.000149. The 24-hour low and high are $0.000146 and $0.000158, respectively. However, trading volume has increased by 18% in the last 24 hours.
Meanwhile, USTC price trades at $0.0341, also up over 2% in the last 24 hours. The 24-hour low and high are $0.033 and $0.035, respectively.
Also Read:
Zcash prices crashed over 40% today following a stunning revelation by developers. A severe vulnerability…
Bitcoin price has continued bleeding, recording lows near $59,000. It marks BTC's lowest level since…
Bitcoin advocate and Strategy Executive Chairman Michael Saylor has responded to Jim Cramer blaming him…
Financial giant BNP Paribas has predicted three Fed rate hikes as the U.S. labor market…
The U.S. House Ways and Means Committee has released several crypto tax discussion drafts as…
Grayscale Investments has submitted an application to the U.S. Securities and Exchange Commission (SEC) to…