Within the Terra Luna Classic ecosystem, there has been a noticeable surge in spam proposals, which some attribute to the recent decline in LUNC prices. In response, a new proposal has emerged, seeking to bolster the minimum deposit requirement from 1 million LUNC to 5 million LUNC. This move aims to stimulate upward momentum in prices while addressing the issue of spam proposals.
Terra Luna Classic’s Community-Driven Initiative to Tackle Spam Proposals
Proposal 11780, titled “Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC,” is currently open for voting. Its primary objective is to raise the minimum deposit threshold from 1 million LUNC to 5 million LUNC, making it more challenging for scam proposals to advance beyond the deposit phase. By implementing this adjustment, the Terra Luna Classic community intends to combat the influx of spam and irrelevant proposals that have been affecting the voting process.
Validators and developers concur that the existing 1 million LUNC requirement no longer serves as an effective deterrent against unwanted proposals. The Hexxagon development group, responsible for the community-owned Station wallet, has observed a notable increase in spam proposals.
As of now, the proposal has garnered 34% “Yes” votes, 64% “No” votes, and 2% “No with veto” votes. Nine validators, including Hexxagon, Lunanauts, and Coinpayu, are in favor of the proposal. However, JESUSisLORD opposes the proposition, citing concerns that a 5x increase would have a “negative effect on regular community members’ ability to submit their proposals.”
L1 Terra Classic Task Force Prepares for Core Upgrade
Meanwhile, the L1 Terra Classic Task Force is gearing up for the v2.2.1 core upgrade, which is projected to occur around September 12 at 9:57 UTC. Simultaneously, the USTC Quant team has initiated communication with centralized exchanges to share the Buy Back Report, a move aimed at advancing efforts to restore USTC’s peg.
LUNC and LUNA Displaying Resilience
LUNC and LUNA have recently witnessed a significant surge in trading volumes, largely influenced by key proposals endorsed by the community. Led by TFL, LUNA has surged by over 5% within a week, while LUNC has exhibited positive momentum in anticipation of the forthcoming core upgrade led by the L1TF developer team.
As of the latest data, LUNC is priced at $0.000061, maintaining a sideways trend over the past 24 hours. Meanwhile, LUNA is trading at $0.41, although it has retraced some of its earlier gains in the last 24 hours.