MEXCTerra Luna Classic Proposal Is Inconsistent With Binance, CoinMarketCap: Top Developer
Highlights
- Terra Luna Classic developer revealed discussions with Binance on creating a custom API for circulating supply.
- Binance asked Terra Rebels for an API to provide details on the total supply and circulating supply,
- He cautioned the community on requirement to persuade Binance, CoinMarketCap for using the official API.
- LUNC and USTC prices continue to consolidate.
A Terra Luna Classic developer cautioned about the proposal to transfer endpoints to the top validator platform Allnodes for accurately providing LUNC circulating supply data. The proposal under voting aims to secure an official organization or platform to host the endpoint preventing individuals from making unauthorized changes to Terra Classic supply without approval from the community.
Terra Luna Classic Circulating Supply API Hosting Dispute
Ex-Terra Rebels developer and Hexxagon co-founder Raider took to X on May 17 to clear the air about the situation related to API created and hosted by him to track circulating supply. He revealed that Binance asked Terra Rebels for an API to provide details on the total supply and circulating supply of Terra Luna Classic.
They were provided with the official LCD and FCD endpoints for supply calculation, which at the time were hosted by TFL. CoinMarketCap rejected the official endpoints and Binance asked to create an API consistent with the circulating supply definition of CoinMarketCap.
“The changes I have made to the API configuration since October 2022 were made to keep the circulating supply figure as close to the CMC definition as is possible with information that was currently publicly available at the time,” said Raider.
He added that the API will continue to exist as CoinMarketCap is using it. Furthermore, he has no intention to challenge the proposal to let Allnodes host official endpoints. The community will be required to persuade Binance and CoinMarketCap to a totally different API for total supply and circulating supply.
Also Read: Terra Classic Community Makes Crucial Move With Allnodes
LUNC and USTC Price Performance
LUNC price is currently up 0.5% over the last 24 hours, with the price currently trading at $0.0001077. The 24-hour high and low are $0.0001058 and $0.0001091, respectively. However, the trading volume has decreased by 35% in the past 24 hours.
On the futures front, LUNC and 1000LUNC continue to see selloff pressure. Total LUNC futures are down nearly 1% in the past 24 hours, with futures on Binance fell almost 2%.
Meanwhile, USTC price fell 1% in the last 24 hours, with the price currently trading at $0.0219. The 24-hour low and high are $0.02096 and $0.02221, respectively.
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