The LUNC community has voted against a proposal to allocate $15,000 per month to fund Terra Rebels. The proposal narrowly missed approval in a closely contested voting process. Proposal 11805 now joins the ranks of other recent proposals that have been turned down by the community.
The Terra Luna Classic (LUNC) community has declined a proposal put forth by Terra Rebels, which sought funding amounting to $15,000 on a monthly basis. Clay, the host of the ClayBro YouTube investment channel, noted that the voting procedure was closely contested. As per his observation, Proposal 11805 was narrowly rejected by the community.
In a recently published video, Clay pointed out that the gap between the “YES and NO” votes was within a 10% margin. Nevertheless, this outcome signifies that the Terra Luna community has chosen not to grant Terra Rebels the requested $15,000, as the proposal has been rejected.
Proposal 11805 now joins a growing list of proposals that have faced rejection from the Terra Luna community in recent times. Clay highlighted a few of these declined proposals, such as the one from the USTC repeg team. Interestingly, Clay noted that the USTC repeg team, despite their initial displeasure with the rejection, had someone else repost the proposal, which subsequently resulted in them receiving payment.
The investment analyst speculates that a similar situation could unfold with the recently declined proposal. Clay anticipates that members of the Terra Rebels team may take to X (formerly Twitter) to share their thoughts and sentiments regarding the rejection of Proposal 11805.
Clay furnished the specifics of the voting process, highlighting that 20 validators supported the Terra Rebels proposal, while 16 validators cast their votes in opposition. Nevertheless, due to the intricacies of the voting mechanism, the 16 validators who voted against the proposal held a higher voting percentage.
The host of the ClayBro channel elucidated that among the validators, one cast a “NO” vote with a veto, and an additional ten validators opted for abstention. What Clay emphasized as a significant but frequently disregarded point was that 73 validators refrained from voting entirely, signifying a prevalent sentiment within the Terra Luna Classic community. In his view, many individuals are staying on the sidelines and not actively engaging in the project’s daily governance activities.
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
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