The Terra Luna Classic community has rejected the security upgrade proposal from core developer L1TF. Validators argue that it goes against the pay-per-job proposal.
The Terra Luna Classic community has rejected core developer L1TF’s proposal for a security upgrade package. Validators, including Allnodes, voted “No,” citing proposal 11889, which advocates for a pay-per-job approach to developments, as the reason for rejecting the proposal.
Community Rejects L1TF’s Security Upgrade Proposal
The Terra Luna Classic community has opted to turn down proposal 12008, which sought to implement a core security upgrade package by the Joint L1 Task Force (L1TF). Despite the proposal’s significance in bolstering the chain’s security and stability, it failed to garner adequate support, receiving less than 30% of votes in favor. Notably, validators such as Allnodes, Interstellar Lounge, Interstake One, Moon Rabbit Validator, and LUNC DAO opposed the proposal.
Validators expressed concerns about the consequences of blocking pull requests, emphasizing that such actions not only impede the immediate progress of the chain but also erode collaborative spirit and trust within the community. This sentiment underscores the potential risk to the long-term success and sustainability of Terra Classic.
Validator LuncLive has introduced proposal 12013, titled “Repeal Proposal 11889 PPJ,” with the aim of rescinding the pay-per-job and governance-ruled job proposal. The rationale behind this move is to address the uncertainty and confusion prevalent among the community, builders, and validators caused by the existing proposal.
LUNC and USTC Experience Price Volatility
LUNC price has observed a decline of over 3% in the past 24 hours, undoing gains made over the preceding week. Presently, the price stands at $0.00009563, with recorded highs and lows of $0.00009477 and $0.0001012 within the same timeframe. Additionally, trading volume has witnessed a notable decrease of 30% over the past day.
The breakdown of Terra Classic’s price below the support trendline of the pennant pattern indicates a potential for a prolonged downtrend, estimated to be around 30%.
Conversely, USTC price has seen a 5% decrease over the last 24 hours, although it remains 5% higher compared to the previous week. Currently trading at $0.0247, the cryptocurrency recorded a low and high of $0.0246 and $0.0267 within the past 24 hours, respectively. Despite the recent drop, USTC’s weekly performance shows resilience amidst the price volatility in the market.
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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