Terra Luna Classic Community Passes Crucial Proposal; LUNC And USTC Price Skyrockets

Terra Luna Classic community has unanimously passed a crucial proposal amid efforts to revive LUNC and USTC. The proposal seeking community approval for the on-chain deployment of terrad client v2.3.1, related to incorporating dynamic validator commission module. LUNC and USTC prices are skyrocketing after liquidity deployment.

Terra Luna Classic Proposal 11885 Passed By The Community

Proposal 11885 “Sequence Mismatch Issue Resolution” seeking community approval for the on-chain deployment of terrad client v2.3.1. Notably, this update fixes a critical issue of dyncomm ante decorator related to account sequence. The voting is still open, but the proposal has passed just in a day.

Last week, the community approved v2.3.0 to introduce dyncomm module, integrating protocol logic for determining minimum validator commissions based on voting power. However, L1TF lead Vinh Nguyen reported “a critical issue pertaining to sequence mismatch affecting some validators during commission edits. This sequence mismatch problem has led to some accounts being barred from further interaction with the chain.”

CoinGape Media earlier reported that Terra Luna Classic’s core developer L1TF officially approved dyncomm module for dynamic validator commissions.

The proposal received 99.96% votes in favor from the Terra Luna Classic community, with majority support from top validators. Among the 30 validators who currently voted, 30 voted “Yes”. This includes validators such as Allnodes, Interstellar Lounge, Orion, StakeBin, JESUSisLORD, and others.

Also Read: USTC Soars 137% After This Strategic Investment

Terra Ecosystem Tokens Sudden Rally

LUNC price jumped more than 25% in the past 24 hours, with the price currently trading at $0.000098. The 24-hour low and high are $0.0000787 and $0.0001048, respectively. Furthermore, the trading volume has increased by 1120% in the last 24 hours, indicating interest among traders.

USTC price trades at $0.048, up 200% in the past 24 hours. The 24-hour low and high are $0.015 and $0.045, respectively. The trading volume has also jumped massively.

Meanwhile, LUNA price also climbed 15% in the past 24 hours, with the price currently trading at $0.77. The 24-hour low and high are $0.6587 and $0.8265, respectively. However, the trading volume has jumped by 400%.

Also Read: Bitcoin (BTC) Price Volatility Ahead As Open Interest Moves in the “Danger Zone”

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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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