- Terra Classic community is combating spam proposals linked to a drop in LUNC values, with a proposal aiming to increase the minimum deposit from 1 million to 5 million LUNC.
- The community anticipates a price surge ahead of an upcoming upgrade as a potential outcome of this proposal.
Terra Luna Classic is currently discussing a proposal to enhance its minimum deposit requirements as a measure to address spam proposals. This move is being driven by the upcoming core upgrade and the rising trading activity surrounding LUNC and LUNA, both of which are contributing to ongoing developments within the ecosystem.
Within the Terra Classic community, there is currently an active voting process for Proposal 11780. This proposal is designed to tackle the growing issue of spam proposals by increasing the minimum deposit amount required for submitting proposals.
This initiative has arisen in response to community concerns regarding the surge in irrelevant proposals, coinciding with a decline in LUNC prices. While the proposal is under debate, the market is displaying potential signs of upward momentum as it anticipates the forthcoming upgrade.
Proposal 11780, known as the “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC,” is currently up for consideration. Its primary goal is to elevate the minimum deposit requirement from 1 million LUNC to 5 million LUNC, thereby creating a more substantial barrier to prevent scam proposals from advancing beyond the deposit phase. This measure aims to combat the surge of spam and irrelevant proposals flooding the Terra Classic community’s voting process.
Validators and the Hexxagon developer team, responsible for the community-owned Station wallet, concur that the existing threshold of 1 million LUNC is insufficient in deterring these unwanted proposals. They have observed a notable increase in spam proposals, prompting the need for this adjustment.
Simultaneously, the L1 Terra Classic Task Force is gearing up for the v2.2.1 core upgrade, and the USTC Quant team is making significant progress. They have engaged with centralized exchanges to share the Buy Back Report, with the aim of re-pegging USTC. This adds an extra layer of anticipation to the community’s activities.
The proposal has generated mixed reactions thus far, with 34% in favor of it, 64% against, and an additional 2% voting “No with veto.”
In terms of the market, both LUNC and LUNA are displaying encouraging signs. LUNA has seen a 5% growth in the past week, thanks to efforts by TFL, while LUNC is gaining momentum, currently trading at $0.00005987. This stability aligns with the community’s expectations for the upcoming core upgrade by the L1TF developer team.