The Terra Luna Classic community is currently engaged in voting on various proposals, but there are growing concerns regarding the surge in “spam” proposals, particularly following a decline in LUNA prices. In response to this issue, a fresh proposal has emerged, suggesting an increase in the minimum deposit requirement from 1 million LUNA to 5 million LUNA, with the hope of potentially boosting prices leading up to the upgrade.
This proposal, numbered 11780 and aptly named the “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC,” is currently under review. Its primary aim is to significantly raise the minimum deposit requirement from 1 million LUNC to 5 million LUNC, thereby establishing a more robust barrier to prevent scam proposals from progressing beyond the deposit stage. The objective is to combat the influx of “spam” and irrelevant proposals that have inundated the Terra Luna Classic community’s voting process.
Validators within the community share the consensus that the existing 1 million LUNC threshold is insufficient in deterring these undesirable proposals. Hexxagon, the development team responsible for the community-owned Station wallet, has notably observed a noticeable increase in spam proposals.
Proposal to Heighten Minimum Deposit: A Defense Against Unwanted Proposals
Presently, the proposal has garnered support from 34% of “Yes” votes, 64% of “No” votes, and 2% of “No with veto” votes. Nine validators, including Hexxagon, Lunanauts, and Coinpayu, stand in favor of this proposal.
Meanwhile, the L1 Terra Classic Task Force is actively preparing for the v2.2.1 core upgrade, scheduled for September 12 at 9:57 UTC, as indicated by the countdown. Additionally, the USTC Quant team has initiated contact with centralized exchanges to provide them with the Buy Back Report, aiming to reestablish the peg of USTC.
In recent times, both LUNC and LUNA have experienced a significant surge in trading volumes, primarily driven by vital community-approved proposals. LUNA, under the leadership of TFL, has witnessed growth of over 5% in the past week. Similarly, LUNC is displaying upward momentum in anticipation of the core upgrade led by the L1TF developer team.
Upcoming Core Upgrade and Trading Momentum in Terra Luna Classic
As the Terra Luna Classic community addresses the ‘spam’ proposal issue and gears up for the upcoming core upgrade, the crypto space continues to witness exciting developments.
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