Terra Luna Classic Proposals Rejected
The Terra Luna Classic (LUNC) community has rejected two important proposals that aimed to enhance the utility and security of the Terra Classic chain. The first proposal, “Investigate EVM Functionality,” failed to gain approval due to last-minute votes from certain validators. Despite having a majority of “Yes” votes, it ultimately did not pass.
Allnodes, a top validator with significant voting power, opposed this proposal, expressing concerns about the research and development costs associated with implementing Ethereum virtual machine (EVM) capabilities on the LUNC chain.
Top Validator Opposes EVM Research
Allnodes voted against Proposal 11978, which sought to investigate the functionality of the EVM on the Terra Luna Classic chain. In a memo, Allnodes highlighted the uncertainties surrounding the costs of research, development, and long-term maintenance. They suggested that a thorough assessment should be conducted before considering funding for this initiative.
Restoring Validator List
Allnodes also voted against Proposal 11966, which aimed to restore the validator count on the Terra Classic chain to 130. This proposal intended to streamline the process and prioritize network decentralization while minimizing developer burdens. However, it received more “No” votes than “Yes” votes.
LUNC and USTC Price Movement
The price of LUNC has increased by 1% in the last 24 hours and is currently trading at $0.000126. Trading volume has also risen by 85%, indicating growing interest among traders.
On the other hand, USTC has experienced an 8% surge in price over the past 24 hours, with a current trading value of $0.0307. The trading volume for USTC has increased by 300%.
Hot Take: Terra Luna Classic Faces Opposition to Key Proposals
The rejection of the EVM functionality investigation and the restoration of validator count proposals by the Terra Luna Classic community highlights the challenges faced by the chain in implementing new features and maintaining network robustness. The opposition from top validators like Allnodes raises valid concerns about costs and long-term sustainability. These rejections may impact the future development and expansion of Terra Luna Classic, potentially limiting its use cases and interoperability with other platforms.
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