NewsletterTerra Luna Classic Mulls Improving Dyncomm For Burn Mechanism, LUNC To $1?
The Terra Luna Classic community burning massive amounts of LUNC tokens to reduce the supply and revive the Terra ecosystem tokens. One of the top validators submitted a proposal to improve the recently implemented dynamic minimum commission (dyncomm) mechanism for validators.
It asserts modifying dyncomm to have mandatory burn by top validators. Traders didn’t respond immediately to the announcement and LUNC and USTC prices continue to fall. The community eyes a recovery in the crypto market to prevent further corrections in tokens.
Terra Luna Classic Validator Led-Burn
Lunanauts validator submitted a proposal for discussion on the Commonwealth forum, aiming to improve dyncomm for burn and oracle pool. However, the validator admits that the proposal still needs work and a formula to tweak the dyncomm.
“These adjustments aim to maintain fairness among validators of different sizes, promote a balanced distribution of additional commission sets, and incorporate governance input for ongoing optimization. Implementing these suggestions can contribute to a more robust and equitable dynamic minimum commission system,” said the validator.
The validator suggests changes in ‘validator size neutrality’ to prevent larger validators from disproportionately benefiting. In addition, distribute the extra dyncomm sets to burn, oracle pool, and community pool in a 50/25/25 manner. Governance input on allocation parameters and regular evaluation of allocation mechanism for top validators.
Lunanauts cited that Allnodes wanted a 10% commission but the dynamic minimum commission increased it to 20%, “why not send the extra 10% to burn and oracle pool.”
Read More: Terra Luna Classic Burn Hits 85 Billion Milestone, LUNC & USTC Prices Recover
LUNC and USTC prices remain under selling pressure amid the broader crypto market. Investors continue profit booking due to low trading volumes in the last few days. However, the community is optimistic about an upcoming recovery.
LUNC price fell 8% in the last 24 hours, with the price currently trading at $0.00017. The 24-hour low and high are $0.000175 and $0.000214, respectively. However, trading volume has increased by 16% in the last 24 hours.
Meanwhile, USTC price trades at $0.0407, down 7%. The 24-hour low and high are $0.0412 and $0.0512, respectively. The trading volume has increased by 100% in the past 24 hours.
Also Read:
- US Fed Rate Cuts To Start After Bitcoin Halving In Q3: Goldman Sachs
- Binance Ends Bitcoin And Ethereum P2P Trading, But There’s A Catch
- Crypto Market Selloff: Here’s Why BTC, ETH, XRP Prices Fell Sharply Today
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
- Pi Network Update: Team Launches AI Tools to Boost KYC and Mainnet Migration for Investors
- U.S. SEC’s Crypto Task Force Sets Dec. 15 for Privacy Roundtable After Previous Delay
- Grayscale Files S-1 for New SUI ETF After 21Shares’ Successful First Fund Launch
- Do Kwon Faces Up to 12 Years in Prison Over ‘Colossal’ Role in $40B TerraUSD Collaps
- ProShares Drops 3x Bitcoin, Ethereum, XRP ETF Plans After SEC Pushback
- 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
- Is Cardano Price at Risk of a 50% Crash Ahead of the Midnight Launch?
- Is Chainlink Price Headed for $20 as Reserves Pass 1M LINK?
