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Terra LUNC Community Vote Against $130,000 Spending Proposal

source-logo  coinedition.com 04 October 2023 13:16, UTC

In a recent video, Clay, the host of the ClayBro YouTube channel, said a $130,000 spending proposal has seen massive rejection by the Terra Luna Classic community. The proposal adds to a growing list of other proposals decided upon by the community this month.

Notably, the $130,000 spend proposal is to develop the Terra LUNC blockchain for the next quarter. The funds would primarily go to improving the infrastructure of the blockchain. Furthermore, a $10,000 monthly payment will be made to nodes from the fund.

Voting on the proposal will end on October 4. However, over 50% have voted against the proposal, while 22.5% showed support. Also, 26% abstained from voting, with 0.06% vetoing the proposal. According to Clay, the proposal will need an additional 200 billion Terra LUNC votes to pass.

Meanwhile, the Terra LUNC community is also voting on other proposals surrounding the blockchain. In particular, a proposal to whitelist coined wallets for off-chain burns. Furthermore, the proposal includes an additional 0.5% fee on LUNC and USTC trades burned based on the exchange volume they received.

Per the video, Clay said the Terra Luna needs to burn tokens to see some growth. So far, the proposal has seen popular support, garnering 99.84% yes votes. 0.05% voted against, while 0.12% abstained. Voting on the proposal ends on October 7.

Another proposal to add a burn option to LUNC trading pairs on exchanges also failed to take off. 48% voted against, while a marginal 0.55% voted in support. 51% chose to abstain.

Similarly, the community has also rejected a proposal for a $45,000 monthly salary for blockchain developers. While acknowledging the depth of the developer team’s work on the blockchain, Clay said the community cannot afford the $45k salary at the moment.

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