Terra Luna Classic Security Upgrade Proposal Setback

Terra Classic Luna Classic LUNC

Terra Luna Classic validators’ stalemate halts the L1TF core security upgrade proposal, despite a 7% price surge in LUNC.

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Terra Luna Classic core developer L1TF’s proposal for deploying the core security upgrade package faces a setback as validators, including Allnodes, vote “No.” Community members pointed to proposal 11889, advocating for a pay-per-job approach for developments, as the reason for rejecting the current proposal. However, some members, including validators, express concerns that this rejection may hinder chain developments.



Challenges for L1TF Core Security Upgrade Proposal

The Joint L1 Task Force’s (L1TF) core security upgrade package proposal, numbered 12008, encounters obstacles despite its critical role in enhancing the security and stability of the chain. Additionally, the proposal is essential for meeting the requirements for TFL infrastructure support.

Initially, the proposal garnered significant support, with 94% of the votes in favor and 5% “Abstain” votes. However, the current voting landscape shows approximately 38% “Yes”, 53% “No”, and 9% “Abstain”. The impasse emerged after 14 validators, including Allnodes, Interstellar Lounge, Interstake One, Moon Rabbit Validator, and LUNC DAO, voted against the proposal.

In contrast, 23 validators supported the proposal, with 8 opting to “Abstain”. Their contention lies in the unclear guidelines for pay-per-job arrangements, emphasizing the need for further development. L1TF and Terra Classic Coalition (TCC) had previously highlighted the lack of specifics in the implementation plan, including guidelines and costs for job review and deployment.

Price Movements in the Last 24 Hours

The price of LUNC has surged by over 7% in the past 24 hours, with the current trading price at $0.0001012. During this period, the price reached a high of $0.0001032 and a low of $0.0000951. Notably, trading volume has doubled, indicating significant interest among traders.

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On the other hand, USTC witnessed a remarkable increase of over 10% in the last 24 hours, driven by substantial buying activity following the monthly expiry. Currently trading at $0.02652, the price experienced a low of $0.02467 and a high of $0.02713 within the same timeframe.


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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  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

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