LUNC Community Discusses 800M USTC Reduction

Terra Classic Do Kwon

A few developers and validators are concerned that changing the code might cause a long-lasting problem for the blockchain, as it could create a permanent risk.

Join CryptosHeadline's Official Telegram Community Channel

Debate Over Burning 800M USTC in Terra Luna Classic Community

The Terra Luna Classic community has been discussing whether to burn 800 million USTC to help revive LUNC. They initially voted to block a wallet with 800 million USTC, but now they’re reconsidering due to worries from developers and validators who fear it might harm the blockchain.

A proposal, “Reverse and Nullify Blacklisting Proposal #11832,” is now up for a vote. It aims to undo the previous approval of Proposal 11832, which would protect the LUNC blockchain’s integrity. This proposal also wants to remove blacklisting code from the LUNC codebase, preventing its future use.

Warnings about Blockchain Impact

Edward Kim, an experienced developer, cautioned that this proposal could permanently harm the blockchain. He pointed out that validators seemed inconsistent in their voting, potentially driven by greed, which could lead to legal risks for the community.

The approval of this proposal is vital to safeguard the blockchain, validators, and developers. It could prevent the blacklisting of more wallets and protect the community from legal issues.

LUNC and USTC Prices in the Crypto Market

The prices of LUNC and USTC went up as more people bought cryptocurrencies in the market. Even though 800 million USTC was lost, which is important for USTC and LUNC, it shouldn’t impact their prices much.

In the last day, the price of LUNC has gone up by 2%. Right now, it’s trading at $0.000058. The lowest it reached in the last 24 hours was $0.0000572, and the highest was $0.000093.

But, it’s still below the support level of $0.000060. That means it hasn’t reached a certain price that people consider stable.

As for USTC, its price hasn’t changed in the past day; it’s still at $0.011. The lowest value it hit in the last 24 hours was $0.0113, and the highest was $0.0114.

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.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News


  • Asad

    Asad is a dynamic and talented cryptocurrency content author who brings a wealth of knowledge and enthusiasm to every article. With a deep understanding of blockchain technology and a passion for digital assets, Asad's writing is both informative and engaging.

Leave a Reply

Your email address will not be published. Required fields are marked *