Terra Luna Classic Addresses Spam Proposal Surge with Minimum Deposit Increase
Summary:
Terra Luna Classic considers proposal to raise minimum deposit requirements to combat spam proposals. The upcoming core upgrade and increased trading volumes for LUNC and LUNA contribute to the ongoing developments.
Terra Luna Classic votes on proposals amidst concerns over spam proposals following a decline in LUNA prices. A new proposal aims to raise the minimum deposit requirement from 1 million LUNA to 5 million LUNA, anticipating a potential price increase before the upgrade. Proposal 11780, titled "Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC," aims to increase the minimum deposit requirement to 5 million LUNC to combat irrelevant proposals. Validators agree that the current threshold of 1 million LUNC is insufficient. Hexxagon, the developer team behind the Station wallet, notes an increase in spam proposals.
The proposal has gained support from 34% of "Yes" votes, 64% of "No" votes, and 2% of "No with veto" votes. Nine validators, including Hexxagon, Lunanauts, and Coinpayu, support the proposal. The L1 Terra Classic Task Force is preparing for the v2.2.1 core upgrade scheduled for September 12 at 9.57 UTC. The USTC Quant team has also reached out to centralized exchanges to provide the Buy Back Report to restore the USTC peg. LUNC and LUNA have seen increased trading volumes driven by community-approved proposals. LUNA has grown by over 5% in the past week, while LUNC shows upward momentum ahead of the core upgrade.
Published At
9/10/2023 7:52:31 AM
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