Terra Luna Classic Core Dev L1TF Security Upgrade Proposal Officially Rejected

Terra Luna Classic core developer L1TF’s proposal for core security upgrade package has been rejected by the Terra Luna Classic community. The proposal faced setbacks after validators including Allnodes voted “No” citing proposal 11889, a pay-per-job approach for developments, as the reason for rejecting the current proposal.

Terra Luna Classic Rejects Core Security Upgrade Proposal

Joint L1 Task Force’s (L1TF) core security upgrade package proposal 12008 is turned down by the community despite a necessary measure for boosting the chain’s security and stability. Also, the proposal was important to help meet the requirement for TFL infrastructure support.

The proposal received less than 30% votes in favor after validators voted to reject the proposal. Validators including Allnodes, Interstellar Lounge, Interstake One, Moon Rabbit Validator, and LUNC DAO voted against the proposal.

According to a validator, “Blocking pull requests not only impede the immediate progress of the chain but also have far-reaching consequences, diminishing the collaborative spirit and trust within the community. This can ultimately hinder the long-term success and sustainability of Terra Classic.”

Proposal 12013 “Repeal Proposal 11889 PPJ” has been put by validator LuncLive to repeal pay-per-job and governance-ruled job proposal. It claims that it caused much uncertainty and confusion amongst the community, builders, and validators.

LUNC and USTC Continue Falling

LUNC price fell over 3% in the last 24 hours erasing gains in the last week. The price is currently trading at $0.00009563, with a 24-hour high and low are $0.00009477 and $0.0001012, respectively. Moreover, trading volume has decreased by 30% in the last 24 hours.

As per an analysis by CoinGape Markets, Terra Classic price breakdown below the support trendline of the pennant pattern sets a prolonged downtrend, likely 30%.

Meanwhile, USTC price dropped 5% in the last 24 hours, but is still up 5% in a week. The price currently trades at $0.0247, with a 24-hour low and high of $0.0246 and $0.0267, respectively.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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