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Terra Classic community is currently engaged in a significant voting process for Proposal 11780, which aims to combat the increasing number of spam offers by increasing the minimum deposit amount required for proposals.
This initiative came about as a response to the community’s concerns about the increase in irrelevant offers coinciding with the decline in LUNC prices. While the proposal is subject to debate, the market is showing potential signs of upward momentum ahead of an expected upgrade.
Innovation for LUNC
As shared by Hexagon, a core community member, the “attempt to fight spam offers by increasing the minimum deposit amount to 5 million LUNC” is currently being evaluated by the Terra Luna Classic community. The aim of this proposal is to raise the minimum deposit requirement from 1 million LUNC to 5 million LUNC.
In this way, it will be more difficult for fraudulent offers to go beyond the deposit stage. This approach aims to reduce the distress caused by spam and irrelevant proposals that enter community voting.
Validators expressed their support for the initiative, believing that the current requirement of 1 million LUNC is no longer effective in deterring unwanted offers. Hexxagon, the developer group responsible for the community-owned Station wallet, specifically highlighted the increase in spam offers.
However, the current voting results indicate a division within the community. Currently, the proposal has received 34% “Yes” votes, 64% “No” votes, and 2% “No with Veto” votes. Hexxagon, Lunanauts, and Coinpayu are among the notable supporters of the proposal.
On the other hand, JESUSisLORD opposes the proposal, citing concerns about potential negative effects on ordinary community members who may face difficulties in submitting their offers due to the fivefold increase.
Simultaneously, the L1 Terra Classic Task Force continues its preparations for the v2.2.1 core upgrade scheduled for September 12 at 9:57 UTC. Additionally, the USTC Quant team has agreed to collaborate with a centralized exchange to share the Buyback Report as part of their efforts to reorganize USTC.
Current Status of LUNC and LUNA
Following the successful acceptance of significant proposals by the community, both LUNC and LUNA have experienced a significant increase in trading volumes recently. LUNA, supported by TFL, saw a growth of over 5% last week, while LUNC is showing upward momentum with the anticipation of an upcoming core upgrade managed by the L1TF development team.
Currently, LUNC is trading at 0.00006088 dollars with relatively stable movement in the past 24 hours. In contrast, LUNA is trading at 0.4202 dollars, showing a slight decrease from previous gains within the same time frame.