coinedition.com
The Terra Luna Classic (LUNC) community has rejected a proposal from Terra Rebels to fund them with $15,000 every month. Clay, the host of the ClayBro YouTube investment channel, observed that the voting process was tight. According to him, the community rejected Proposal 11805 by a close margin.
In a recently uploaded video, Clay noted that the differential between the “YES and NO” votes was less than 10%. However, it implies that the Terra Luna community would not see Terra Rebels receive $15,000 based on the rejected proposal.
Proposal 11805 joins several other proposals that have been rejected by the Terra Luna community in recent times. Clay mentioned some of the rejected proposals, including the proposal from the USTC repeg team. According to Clay, the USTC repeg team was displeased with the rejection, someone else reposted it, and they got paid.
The investment analyst believes it is possible for a similar scenario to play out with the recently rejected proposal. According to Clay, he expects to start seeing posts on X (formerly Twitter) from members of the Terra Rebels team expressing their feelings about the rejection of Proposal 11805.
Clay provided the voting details and noted that 20 validators voted in favor of the Terra Rebels proposal, while 16 others voted against it. However, the technicalities involved in the voting process mean the 16 validators who voted against the proposal had a higher voting percentage.
The ClayBro channel host explained that one validator voted “NO” with a veto, and ten validators voted to abstain. Importantly, Clay noted a crucial but often overlooked development. He observed that 73 validators did not vote, indicating the predominant sentiment within the Terra Luna Classic community. According to him, many people are sitting on the sidelines without partaking in the day-to-day governance of the project.