Terra Luna Classic Community Approves Key Proposal For Future Upgrades

Terra Luna Classic proposal for enabling the ICA Controller parameter received unanimous support from the Terra Luna Classic community, including validators. The proposal received 99.97% votes in favor, surpassing the pass threshold before the deadline.

Meanwhile, Terra Classic ecosystem tokens LUNC and USTC took a hit amid the recent crypto market correction and crypto exchange Crypto.com confirmed LUNC delisting to CoinGape.

Terra Luna Classic ICA Controller Parameter Proposal Passed

Proposal 12005 “Consistently set ICA Controller Parameter” has successfully surpassed the pass threshold and received major support from the community. The proposal deadline is January 28.

The proposal has received 99.97% “Yes” votes, indicating unanimous support from the community. It also received No, No with veto, and Abstain votes, which surprised many key members of the community. Among the validators who participated, all 47 voted in favor of the proposal. These include Orion, Interstellar Lounge, Stakely, and Luna Station 88. Allnodes, a validator with 16% voting power, has not voted yet on the proposal.

CoinGape earlier reported that the proposal aimed at setting the parameters of the ICA Controller module of Terra Classic to “enable”. The internal storage of the module is currently inconsistent due to a network glitch, preventing developers from exporting the state of Terra Classic into a genesis.json file. It is crucial for developers when they work on testnets for upgrades.

Read More: Terra Classic (LUNC) Price Surges 5% Post Terra Classic Upgrade Vote

LUNC and USTC Price Performance

Terra Luna Classic (LUNC) and USTC prices witnessed a significant jump after L1TF security upgrade package went live for voting. However, the prices have again tumbled before the expiry.

LUNC price fell 3% in the last 24 hours, with the price currently trading at $0.0000924. The 24-hour high and low are $0.0000915 and $0.0000964, respectively. Meanwhile, trading volume remains down at nearly 40% in the last 24 hours, indicating low interest among traders.

Moreover, USTC price also soared over 3%. The price is currently trading at $0.02374, with a 24-hour high and low of $0.0222 and $0.02403, 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.

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.