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Terra Luna Classic experienced a significant development with the community’s acceptance of a proposal to increase the minimum starting deposit, which plays an important role in reducing the recent surge in spam proposals. The proposal, which sets the initial deposit at 1 million LUNC, will act as a barrier in the deposit phase, preventing these proposals from even reaching the deposit stage.
Approval from Terra Luna Classic Community
Proposal number 12071, titled “Set the Minimum Initial Deposit Amount to 1 million LUNC,” emerged victorious from the Station wallet voting with significant support from the Terra Luna Classic community.
This proposal aimed to significantly reduce the visibility of the increasing number of spam or malicious proposals in the deposit section of the Station wallet.
While the proposal received over 89% ‘Yes’ votes, 9% voted ‘No’, and 1% used ‘Veto No’ and ‘Abstain’ votes. The general consensus within the community is that the positive developments of recent times should continue following this outcome.
Among the 49 validators who participated in the voting, 43 validators, led by Allnodes, Orion, Interstellar Lounge, Interstake One, and Luna Station 88, voted in favor of the proposal. Only a very few Terra Luna Classic validators used ‘No’ and ‘Abstain’ votes in the voting.
On the other hand, it was announced that the minimum initial deposit rate for governance proposal deposits will also increase to 20% following the parameter change.
In addition, the voting results accepted that the starting amount for the deposit phase will be 1 million LUNC, and a 5 million LUNC deposit will be required for the proposal to move to the governance voting stage.
How Much are LUNC and USTC in Dollars?
LUNC and USTC prices have seen an increase of over 30% in the last month. The prices of Terra Classic’s native tokens seem to be on the rise with the steps taken in development activities.
The LUNC price has increased by 3% in the last 24 hours, trading at 0.0001224 dollars. During this period, the lowest price was 0.000116 dollars, while the highest was 0.000125 dollars. Additionally, there has been an increase of over 30% in trading volume in the last 24 hours.
On the other hand, the USTC price has also risen by more than 2% in the last 24 hours and is currently trading at 0.03017 dollars.
