The Terra Luna Classic community is currently planning to increase the deposit amount to 5 million LUNC for spam protection. The voting process that starts today will have a direct impact on LUNA and LUNC prices.
Critical proposal for LUNA and LUNC rise is up for vote
Terra Luna Classic is currently voting on various proposals. However, the final offer will have a direct impact on prices. According to the details, the Terra community wants to increase the minimum deposit amount from 1 million to 5 million LUNC to avoid the “spam” problem. If the proposal passes, the amount of tokens now leaving circulation will increase more than 5 times. This means positive momentum in terms of price.
The offer in question, 11780, “aims to combat spam offers by increasing the minimum deposit amount to 5 million LUNC. Thus, attempted fraud will be prevented at an earlier stage. This helps the Terra Luna Classic community combat “spam” and irrelevant voting offers. The proposal has so far received votes in favor from the most important members…
Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC
We currently have seen an increase in "SPAM" proposals going up, since the price of LUNC has dropped, 1M LUNC is no longer effective in combatting these types of proposals, this proposal will…
— Hexxagon (@hexxagon_io) September 8, 2023
Validators agree that 1 million LUNC is no longer enough to deter these unsolicited offers. Hexxagon, the developer group assigned to the community-owned Station wallet, draws attention to the increase in spam offers.
The LUNA proposal has a 34 percent “Yes” vote and 64 percent “No” vote so far. 2 percent voted “No with Veto”. Nine validators support the proposal, including Hexxagon, Lunanauts, and Coinpayu. However, JESUSisLORD opposes the proposal, saying that “the negative impact on normal community members’ ability to submit their own proposals is enormous, with a 5x increase”.
Terra community votes on multiple critical proposals
With proposal 11780, the community is preparing for the L1 Terra Classic Task Force v2.2.1 kernel upgrade. According to the countdown, the upgrade will fall on September 12. Additionally, the USTC Quant team reached out to the central exchange to share the Buyback Report, moving forward with the goal of crediting USTC.
LUNC and LUNA prices gain momentum
Terra tokens have witnessed a huge increase in transaction volumes recently, driven by significant offers accepted by the community. Led by TFL, LUNA is up more than 5% in a week. LUNC saw some upward momentum ahead of the L1TF development team’s kernel upgrade.
LUNC price is currently trading sideways to the $0.00006086 region. Meanwhile, LUNA gained over 15% at one point yesterday. The sudden rally helped the price surpass $0.45.
cryptocoin.comAs we reported, LUNA continues to gain a place among the Turkish crypto community.