The Terra Luna community continues to work diligently after the chaos triggered by the Terra Luna incident. During this process, new decisions are being made by the community.
The v2.3.0 upgrade proposal for Terra Luna Classic was approved by the community through a governance vote. Investors supported the recovery of LUNC price after the approval news.
Current Status of the Terra Luna Classic Community
The Terra Luna Classic community approved proposal number 11874, which is the “upgrade to v2.3.0”. The proposal aimed to introduce the dyncomm module, which integrates protocol logic to determine minimum validator commissions based on voting power.
According to the data provided by StakeBin, the planned upgrade will take place at a height of 15493370 and will occur on November 20th at 11:19 UTC.
The proposal received 93% “yes” votes and 7% “abstain” votes, with no negative votes. This indicates how much the community has embraced the proposal.
There were 60 validators participating in the vote, and 58 of them supported the proposal. Among the supporters were top Terra Luna Classic validators such as Allnodes, Interstellar Lounge, HappyCattyCrypto, TerraCVita, and Interstake One.
As we previously reported, the dyncomm module for dynamic validator commissions was officially approved by the L1TF team.
Fragwuerdig, a former L1TF developer, will be involved in this process and will manage and guide the development of dynamic validator commissions. After thorough testing, dyncomm will be introduced on the columbus-5 mainnet.
LUNC Price Surges
There has been movement in LUNC price as well. After reaching the lowest level of $0.000074 in the past 24 hours, it has increased by 1% and is currently trading at $0.0000758. However, the trading volume has decreased by 20% in the past 24 hours, indicating a decline believed to be caused by a decrease in trader interest.
The LUNC price has followed the overall market recovery and has shown an increase of approximately 40% in the past month. Lastly, the USTC price is trading at $0.013, experiencing a 20% increase in the past month.
