Terra Luna Classic Validator Rescues USTC Repeg Team
Terra Luna Classic validator Nova has announced its plan to directly fund the Quant USTC repeg team after a failed proposal within the community. The proposal aimed to provide funding for the team for the second month, but it was rejected by the Terra Luna Classic community.
Key points:
- Nova Validator will use its commissions to fund the Quant USTC repeg team directly.
- Proposal 11716 was initially passing, but some validators voted “No” at the last moment.
- Nova validator will fund the team due to the refusal of LUNC validators to pay for the team’s successful work.
- The community is encouraged to redelegate with Nova to support the USTC repeg and LUNC revival.
- StakeBin data shows that Nova is the top validator for delegation gains, with a total delegation of 5.39 billion LUNC and increased voting power.
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LUNC and USTC Prices Continue to Fall
The LUNC price is currently trading at $0.000064, experiencing a 2% decrease in the last 24 hours. CoinGape Markets predicts a potential 20% recovery in LUNC price if it breaks above the descending channel. Additionally, the USTC price has also fallen by 3% in the past 24 hours, with the current trading price at $0.012.
Closing:
The Terra Luna Classic validator Nova’s decision to directly fund the Quant USTC repeg team showcases their commitment to supporting the chain’s improvement. With LUNC and USTC prices experiencing a decline, it will be interesting to see if the predicted recovery in LUNC price will come to fruition.
