Terra Luna Classic Community Passes Major Proposal
The Terra Luna Classic community has successfully passed Proposal 12071, which sets the minimum initial deposit to 1 million LUNC. This proposal aims to address the recent increase in spam proposals by implementing an entry barrier into the deposit section of the Station wallet.
With over 89% of the votes in favor, this proposal received significant support from the community. By raising the minimum initial deposit, poorly written or spam proposals will be prevented from appearing in the deposit phase. Among the participating validators, the majority voted in favor of the proposal.
This change in parameters will require a 20% initial deposit ratio for governance proposal deposits, with an initial amount of 1 million LUNC. However, to proceed to the governance voting stage, the proposal must still fulfill a 5 million deposit amount.
LUNC and USTC Prices Gain Momentum
The prices of LUNC and USTC have experienced a significant rally, increasing by over 30% in just one month. The Terra Classic ecosystem has seen a rise in development activity, contributing to this upward momentum.
Currently, LUNC is trading at $0.000121 with a 2% jump in the past 24 hours. The trading volume has also slightly increased during this period. On the other hand, USTC has surged by more than 2%, with a current trading price of $0.031. The trading volume for USTC has seen a significant increase of 66% in the last 24 hours.
Hot Take: Positive Developments Drive Terra Luna Classic Community
The Terra Luna Classic community’s successful passage of Proposal 12071 reflects their commitment to improving governance and addressing challenges within their ecosystem. By implementing a higher initial deposit requirement, the community aims to reduce spam proposals and ensure higher-quality contributions.
The significant price gains of LUNC and USTC demonstrate the growing confidence in the Terra Classic ecosystem. With increased development activity and positive market sentiment, these tokens have experienced considerable upward momentum.
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