The Terra Luna Classic community has given the green light to a significant proposal for the v2.3.0 upgrade, leading to a notable jump in the LUNC price from its previous low.
The Terra Luna Classic community has given the thumbs up to the v2.3.0 upgrade proposal through governance voting. This on-chain deployment includes the terrad client v2.3.0, known as “v6,” featuring a dynamic validator commission module. The approval of the proposal triggered an immediate reaction from traders, leading to a rebound in LUNC price.
Terra Luna Classic’s Proposal for v2.3.0 Upgrade Gets Unanimous Approval
The Terra Luna Classic community has unanimously approved Proposal 11874, titled “Upgrade to v2.3.0.” The primary goal of this proposal is to introduce the dyncomm module, which integrates protocol logic for determining minimum validator commissions based on voting power.
The scheduled upgrade height is set at 15493370, expected to take place on November 20 at 11:19 AM UTC, as indicated by data from StakeBin.
The overwhelming support for the proposal is evident in the voting results, with 93% of the community casting “Yes” votes and 7% choosing to “Abstain.” This resounding approval reflects the community’s consensus on implementing dynamic validator commissions.
Out of the 60 validators actively participating in the voting process, 58 have shown their support for the proposal. Notable validators, including Allnodes, Interstellar Lounge, HappyCattyCrypto, TerraCVita, and Interstake One, have endorsed the proposal.
Fragwuerdig, a former L1TF developer, is set to manage and lead the development of dynamic validator commissions. Following comprehensive testing, the dyncomm module will be rolled out to the columbus-5 mainnet, marking a significant step forward for Terra Luna Classic’s protocol enhancements.
LUNC Price Sees a 1% Increase Amid Market Volatility
After reaching a 24-hour low of $0.000074, the price of LUNC experienced a 1% jump, currently trading at $0.0000758. This uptick comes as part of a broader market recovery, with LUNC price rebounding nearly 40% over the past month.
However, it’s worth noting that the trading volume has witnessed a 20% decrease in the last 24 hours. This decline suggests a waning interest among traders, potentially influenced by the recent market conditions.
In contrast, the USTC price is holding steady at $0.013, marking a 20% increase over the past month. The market dynamics indicate a mixed scenario with LUNC showing resilience amid fluctuations, while USTC demonstrates consistent growth.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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