Terra Luna Classic KYC Proposal Approved by Community
The Terra Luna Classic community has approved a proposal that makes KYC compulsory for all L1 developers. This decision comes after a close vote by community members and validators, with a significant turnout of 90.5%. Supporters of the proposal see it as a defining moment for the chain’s security.
Terra Luna Classic KYC Proposal Passes
The Terra Luna Classic proposal titled “Compulsory KYC for all L1 developers” has officially passed. The proposal received 34.94% ‘Yes’ votes, along with 16.86% ‘No’, 17.89% ‘No with veto’, and 30.31% ‘Abstain’ votes. Despite top validator Allnodes voting Abstain, last-minute support from over 40 validators led to the approval of the proposal.
Why the Proposal Is Crucial for Terra Luna Classic?
The proposal aims to introduce a compulsory KYC process for developers working on the Terra Luna Classic blockchain to enhance security measures and prevent potential risks. This measure ensures that developers undergo identity verification before contributing to the chain, reducing the possibility of malicious activities.
LUNC and USTC Prices to Rally?
Following the approval of the proposal, both Terra Luna Classic tokens, LUNC and USTC, have experienced a rally in prices. LUNC price has surged over 20%, while USTC price has seen a 3% increase in the past 24 hours. This positive market sentiment is accompanied by rising trading volumes.
By
By
By
By