The Terra Luna Classic community is voting on an important proposal. They want to increase the minimum amount you have to deposit to 5 million tokens. They’re doing this to prevent scam proposals.
The Terra Luna Classic community is dealing with many proposals, but some seem like spam, especially as the prices of LUNC have fallen lately. To address this, they’re voting on a new proposal.
This proposal suggests increasing the minimum deposit from 1 million LUNC to 5 million LUNC. This change aims to make things better before the upgrade.
Terra Luna Classic Fights Spam Proposals
Terra Luna Classic is discussing a proposal called “Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC.” This proposal suggests raising the minimum deposit from 1 million LUNC to 5 million LUNC. The goal is to prevent scam proposals from passing the deposit stage and to reduce unwanted and irrelevant proposals in the community’s voting process.
Validators and developer groups have noticed an increase in spam proposals and believe that the current 1 million LUNC deposit is not enough to deter them. This change aims to make it more challenging for these spam proposals to make it to a vote.
Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC
We currently have seen an increase in "SPAM" proposals going up, since the price of LUNC has dropped, 1M LUNC is no longer effective in combatting these types of proposals, this proposal will…
— Hexxagon (@hexxagon_io) September 8, 2023
The proposal to increase the minimum deposit amount has received mixed votes so far. Currently, it has 34% “Yes” votes, 64% “No” votes, and 2% “No with veto” votes. Nine validators, including Hexxagon, Lunanauts, and Coinpayu, support the proposal. However, JESUSisLORD opposes it, citing concerns about the negative impact on regular community members’ ability to propose changes with such a significant increase.
Meanwhile, the L1 Terra Classic Task Force is gearing up for the v2.2.1 core upgrade, scheduled for September 12 at 9.57 UTC. Additionally, the USTC Quant team is working on sharing the Buy Back Report with centralized exchanges as part of their efforts to stabilize the USTC token.
LUNC and LUNA Displaying Resilience
LUNC and LUNA experienced a significant increase in trading activity due to important community decisions. LUNA, led by TFL, has seen a more than 5% increase in value over the past week. Similarly, LUNC has also shown positive movement as the L1TF developer team prepares for a core upgrade.
As of now, LUNC is trading at $0.000061, maintaining a stable price over the last 24 hours. On the other hand, LUNA’s price stands at $0.41 but has experienced a slight decline in value within the past 24 hours.
Important:Â 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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