Terra Luna Classic Supports Parameter Change Proposal, LUNC Price Dump Coming?

Terra Luna Classic community votes on a key parameter change proposal to expand a Terra project on Terra Classic. While the Terra Luna Classic seeks projects to bring back utility and boost LUNC burns, the latest project needs an increase in MaxContractSize to properly upload its contract on the chain.

Meanwhile, the community contemplates whether changing the proposal has any impact on the stability of the chain. LUNC price continues to remain under pressure as core developers Edward Kim and Tobias Anderson leave the Joint L1 Task Force developer group.

Terra Luna Classic Community Votes on LUNC Parameter Change Proposal

Proposal 11477 “Increase MaxContractSize to upload code” submitted by TerraPoker aims to increase of key on Cosmos Wasm MaxContractSize to 819200 from 614400. This will allow the protocol to upload its contract on the chain.

TerraPoker in a tweet on April 17 revealed that the project needs community support to launch on the Terra Classic chain. It is proposing an increase of key MaxContractSize to 819200 from 614400.

“We believe that the adjustment will not only welcome Terra Poker into the Terra Classic ecosystem, but also be a welcoming invitation for other protocols as well. We therefore request the LUNC Community’s most favourable consideration.”

Until now, the proposal has received 45% of votes in favor and 55% have voted Abstain. The current sentiment in the LUNC community suggests the proposal will likely pass as the community seeks to increase utility on the chain and boost LUNC burn.

Developers have confirmed the contract size change will not have any impact. However, some believe an abnormal increase in gas fees and contracts not executing on the servers as memory size will exceed current network or server resources.

Terra Luna Classic community facing a minor crisis as core developers Ed Kim and Tobias “Zaradar” Andersen left the Joint L1 Task Force developer team.

LUNC price fell 2% in the last 24 hours, with the price currently trading at $0.000125. The 24-hour low and high are $0.000124 and $0.000128, respectively. Furthermore, the trading volume has decreased by 25% in the last 24 hours, indicating a decline in interest among traders.

Also Read: Binance BNB Token To Hit $400 After Major Upgrade This Month

Varinder is a Technical Writer and Editor, Technology Enthusiast, and Analytical Thinker. Fascinated by Disruptive Technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence, and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for a substantial period and is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.