Terra Luna Classic Implements Initial Deposit Proposals to Curb Spam
The Terra Luna Classic community has approved a proposal that requires members to make an initial deposit of 1 million LUNC before starting any new proposals. This move aims to combat the issue of spam proposals within the network. The proposal received overwhelming support, with 89% in favor. The network has been making significant progress in enhancing the project, including implementing staking and token burn programs. Many community members appreciate the restriction on proposals, as it encourages well-constructed ideas. Proposal writers will also need to match a 5 million deposit for eligible participants during the governance voting phase.
Technical Outlook for LUNC Price Rebound
During the recent volatility, Terra Classic price gained some liquidity around $0.000118, supported by the 200-day Exponential Moving Average (EMA). The price showed strength as it broke above the ascending trend line support, but faced resistance at $0.0001236. Holding above the support level is crucial for further upward movement. If the price surpasses the resistance at $0.00014, more investors are likely to join the trend. In Q4 of last year, Terra Classic price reached $0.00028, indicating positive developments within the ecosystem.
Hot Take: Terra Luna Classic Implements Deposit Proposals to Combat Spam and Foster Well-Constructed Ideas
The Terra Luna Classic community has taken a step towards eliminating spam proposals by implementing an initial deposit requirement for new proposals. This decision was met with strong support from community members who believe that attention should be focused on well-thought-out ideas. The technical outlook for LUNC price rebound looks promising as it holds above key support levels and shows potential for further upward movement. The projectโs future seems bullish as developers and the community work towards improving network efficiency. With these developments, Terra Luna Classic is poised to regain its former glory.
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