Should Terra Classic Community Wait Before Voting On Crucial Proposal 11030?

Terra Classic developer Terra Rebels’ official Proposal 11030 is now up for voting by the community. The proposal will enable Terra Rebels to get 937,500,000 LUNC tokens worth $150,000 from the community pool for Rebel Station development. It will allow the LUNC community to separate from Terraform Labs (TFL) and Do Kwon. However, the community now contemplates whether it would benefit LUNC.

Proposal 11030 By Terra Classic Developer Terra Rebels

Terraform Labs announced plans to end support for the Terra Station wallet to focus on LUNA-specific cross-chain “Station” wallet as part of the latest developments. Terra Classic developer Terra Rebels were asked to make costly L1 changes to the blockchain before December 15.

Considering that impossible to complete within the time, Terra Rebels announced Proposal 11030 to become independent of TFL and Do Kwon. It was actually the last stage in the Terra Classic Revival Roadmap.

Terra Rebels also announced ending support for Terra Station, making TerraCVita manage the Terra Station with support from TFL.

Some believe the community should wait to vote as TFL’s Jared communicated with TerraCVita to share API.Terra.Dev data that could have TFL to continue support Terra Station with TerraCVita. Also, it prevents $150,000 in LUNC that Terra Rebels requested for its Rebel Station infrastructure and assets.

The voting ends in the next 6 days. Until now, the proposal has 95% votes supporting it as 12 validators including StakeBin and Vegas Validator have voted “Yes” for the proposal. “Crypto King Burn And Build” and “Classy’s Crypto Sphere” have also favored the proposal. It should be noted that Terra Classic developer Vegas is also a lead signer of the proposal and other validators are yet to vote.

Could the Proposal Impact LUNC Price?

Terra Classic (LUNC) price could see some impact if the proposal is passed by the community. LUNC price may dive to $0.00010 as suggested by experts.

LUNC Price rallied over 6% yesterday but has failed to capitalize on the rally, reversing earlier gains. Currently, the LUNC price is trading at $0.000171. The 24-hour low and high are $0.000168 and $0.000176, respectively.

Also Read: Has The Terra Classic (LUNC) Revival Rally To $0.001 Started?

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.

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