Terra Classic Community Votes On Core Security Package Proposal
The Terra Luna Classic community is currently voting on the proposal for the L1TF Terra Classic core security upgrade package. The objective of this proposal is to upgrade core components in order to enhance the security and stability of the chain. It will also fulfill the infrastructure requirements for TFL support.
Previously, we reported that the team responsible for this upgrade package, consisting of Vinh, Inon Man, and Frag, requires 11 weeks to complete the upgrade. The total budget for the project is $51,000, which will be held in a multisig account by members of the package and oversight committee. The Terra Classic components that will be upgraded include Wasm module (wasmd), Wasm Virtual Machine (wasmvm), Cosmos SDK, Comet BFT, IBC-GO, and Mainnet.
For the initial funding, L1TF is requesting $25,500, which represents half of the total budget. This amount will cover the initial setup costs and serve as a retainer fee to ensure long-term commitment to the security and stability of the chain.
During the initial voting phase, the proposal received an overwhelming 94% of votes in favor, with 5% abstaining. However, there were also some members who voted against or vetoed the proposal.
LUNC and USTC Prices Experience Significant Jump
Following the announcement of the voting process for the core security upgrade package proposal, both LUNC and USTC prices saw a notable increase. This could be attributed to traders readjusting their trades based on these recent developments.
In the last 24 hours, LUNC price has jumped over 5%, currently trading at $0.00009545. The 24-hour high and low for LUNC are $0.00008946 and $0.00009826, respectively. However, trading volume has decreased by nearly 35% in the last 24 hours, indicating lower interest among traders.
Similarly, USTC price has also soared over 3%. It is currently trading at $0.02374, with a 24-hour high and low of $0.0222 and $0.02403, respectively.
Hot Take: Terra Classic Takes Step Towards Enhanced Security
The Terra Luna Classic community’s voting on the core security upgrade package proposal reflects their commitment to enhancing the security and stability of the chain. By upgrading core components and fulfilling infrastructure requirements, they aim to create a more robust ecosystem for TFL support.
The positive market response with increased prices for LUNC and USTC indicates that traders are taking notice of these developments. As the voting process continues and the upgrade package is implemented, it will be interesting to see how these changes impact the Terra Luna Classic community and its future growth.
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