Terra Classic (LUNC) Raises Minimum Deposit 📈 to Curb Spam Proposals! 🚫📩

Terra Luna Classic Proposes Minimum Initial Deposit Change

The Terra Luna Classic community is currently voting on Proposal 12071, which suggests setting the minimum initial deposit to 1 million LUNC. This proposal aims to address the increasing number of spam and poorly written proposals in the deposit voting section. By raising the entry barrier, it hopes to prevent these proposals from appearing in the deposit phase altogether.

If approved, this parameter change would increase the minimum initial deposit ratio for governance proposal deposits to 20%. Currently, the minimum deposit amount is 5 million LUNC, which means the minimum initial deposit is equal to 1 million LUNC. However, the proposal still needs to fulfill the 5 million deposit requirement to proceed to the governance voting stage.

So far, the proposal has received overwhelming support from the community, with over 98% “Yes” votes and all 18 participating validators voting in favor. However, some members believe that the amount is still too high.

LUNC and USTC Price Update

The price of LUNC has experienced a 1% increase in the past 24 hours following a 15% rally last week. It is currently trading at $0.000129, with a 24-hour low of $0.000127 and a high of $0.000135. However, trading volume has decreased by 24% in the same period.

On the other hand, USTC has seen a more significant rise of over 5% in the last 24 hours. It is currently trading at $0.0329, with a high of $0.0351 and a low of $0.0313 during this period. Trading volume has also increased by 130%, and USTC has made a rally of 28% in the past week.