Terra Luna Classic Community Approves Major Proposal

The Terra Luna Classic community has approved a major proposal to minimize “spam” proposals, which have increased significantly after a drop in LUNC prices in recent months. A new proposal is put up for voting to increase the minimum deposit amount from 1 million LUNC to 5 million LUNC. Traders didn’t immediately respond to the passing of the proposal.

Terra Luna Classic Proposal to Prevent Spam Proposals Passed

Proposal 11780 “Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC” has surpassed the pass threshold.

CoinGape earlier reported that it aims to increase the minimum deposit amount from 1 million LUNC to 5 million LUNC, making it difficult for scam proposals to pass the deposit stage. This will help combat “spam” and irrelevant proposals for voting by the Terra Luna Classic community.

The proposal has received 94.30% “Yes” votes, indicating that the majority in the community favors it. Also, it gets 5.43% votes, along with No with veto and Abstain votes.

Among 40 validators turnout, 37 favored the proposal including Allnodes, Interstellar Lounge, Orion HappyCattyCrypto, and TCB. Whereas, JESUSisLORD and StellarDrift rejected the proposal and Vegas Node voted “Abstain.” Validators agree that 1 million LUNC is no longer sufficient to discourage these unwanted proposals.

Meanwhile, the L1 Terra Classic Task Force has successfully completed the v2.2.1 core upgrade, which took more than 8 hrs. Some validators are still offline and Terra Classic Station and Finder are working again.

LUNC price continues to trade under pressure despite the upgrade and recent passing of key proposals. It currently trades at $0.000057, with the 24-hour low and high of $0.0000570 and $0.0000584, 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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