Terra Luna Classic Core Security Upgrade Proposal Hits Roadblock

Terra Luna Classic core developer L1TF’s proposal for core security upgrade package deployment hits a roadblock after validators including Allnodes voted “No”. The community members cited proposal 11889, a pay-per-job approach for developments, as the reason for rejecting the current proposal. However, some members including validators believe this will hold back developments on the chain.

Terra Luna Classic Proposal Loses Support

Joint L1 Task Force’s (L1TF) core security upgrade package proposal 12008 facing headwinds despite a necessary step for improving the security and stability of the chain. Also, the proposal is also important to help fulfill the requirement for TFL infrastructure support.

During the initial voting, the proposal received 94% votes in favor, with 5% “Abstain” votes. However, the voting now stands at approximately 38% “Yes”, 53% “No”, and 9% “Abstain”. The stalemate happened after multiple 14 validators including Allnodes, Interstellar Lounge, Interstake One, Moon Rabbit Validator, and LUNC DAO voted against the proposal.

Meanwhile, 23 validators voted in favor of the proposal and 8 voted “Abstain”. They believe the pay-per job guidelines are not clear yet and need more development. L1TF and Terra Classic Coalition (TCC) earlier claimed that lacks many details for a practicable implementation plan including guidelines and costs for review and deployment of a job.

Read More: Terra Luna Classic Community Approves Crucial Proposal For Future Upgrades

Terra Classic Ecosystem Tokens Jump

LUNC price jumps over 7% in the last 24 hours, with the price currently trading at $0.0001012. The 24-hour high and low are $0.0000951 and $0.0001032, respectively. Moreover, trading volume has increased by 100% in the last 24 hours, indicating high interest among traders.

Meanwhile, USTC price soared over 10% in the last 24 hours amid massive buying after the monthly expiry. The price is currently trading at $0.02652, with a 24-hour low and high of $0.02467 and $0.02713, 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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