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The Terra Luna Classic community is evaluating proposed amendments to its current token staking model. The existing 21-day withdrawal period is believed to limit user acceptance. To enhance the usability of tokens, the community has put forth a suggestion to reorganize the waiting time.
Changes in Terra Staking
According to a statement from the Crypto News Portal, users currently face a 21-day waiting period before withdrawing their staked LUNC tokens. Out of a circulating total of 5.44 trillion tokens, 1 trillion are currently staked. This situation is said to hinder the token’s adoption.
An official from the Crypto News Portal noted that reducing the waiting period to more reasonable levels could boost users’ confidence in the system.
Crypto News Portal: “Lowering the waiting period to reasonable levels will facilitate users in reaching their goals.”
Other developments within the ecosystem are also noteworthy. The Terra Classic community has removed 405 billion LUNC tokens to decrease supply. Additionally, over 3 billion tokens from USTC have been withdrawn. These steps aim to increase the token’s scarcity and support potential future performance.
Price Outlook
Current data indicates that LUNC’s price is around $0.00005957, experiencing a 7.13% decrease in the last 24 hours. TerraClassicUSD has also seen a drop of 3.84%. Market conditions are cited as the primary reason for these declines.
Within the community, there is a belief that adjusting the waiting period will enhance the stability of the token ecosystem. A user named Vivid BNB emphasized that patience is crucial in the LUNC ecosystem.
Vivid BNB: “Just because it takes a long time doesn’t mean stakers can’t achieve their goals.”
Reducing token supply and potential modifications to the staking model may help increase the utility and liquidity of Terra Luna Classic. The proposed amendments are believed to have a positive impact on the ecosystem.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
