{"id":550769,"date":"2023-09-11T18:00:51","date_gmt":"2023-09-11T18:00:51","guid":{"rendered":"https:\/\/wncen.com\/?p=550769"},"modified":"2023-09-11T12:26:03","modified_gmt":"2023-09-11T12:26:03","slug":"terra-classic-game-changing-proposal-whats-in-store-for-luncs-future","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/terra-classic-game-changing-proposal-whats-in-store-for-luncs-future\/","title":{"rendered":"Terra Classic Game-Changing Proposal: What’s In Store For LUNC’s Future?"},"content":{"rendered":"

Terra Classic (LUNC) has taken a decisive action in a bid to tackle the rising tide of spam proposals flooding its blockchain. The project recently submitted a groundbreaking proposal aimed at altering some fundamental aspects of its ecosystem to mitigate the incessant spam proposals that have been plaguing it. The Terra Classic community hopes that this move will help restore order and efficiency to its blockchain.<\/span><\/p>\n

Related Reading: Boosting Optimism Protocol: Can Incentives Drive OP Prices Higher?<\/a><\/div>\n

One of the most significant changes proposed is the substantial increase in the minimum deposit required for submitting proposals. In response to the dwindling effectiveness of a 1 million LUNC deposit due to the cryptocurrency’s recent price drop, the proposal suggests elevating the minimum deposit to <\/span>5 million LUNC<\/span><\/a>.\u00a0<\/span><\/p>\n

This move is expected to serve as a deterrent against frivolous and spammy proposals that have been inundating the platform.<\/span><\/p>\n

\n

Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC<\/p>\n

We currently have seen an increase in “SPAM” proposals going up, since the price of LUNC has dropped, 1M LUNC is no longer effective in combatting these types of proposals, this proposal will\u2026<\/p>\n

\u2014 Hexxagon (@hexxagon_io) September 8, 2023<\/a><\/p><\/blockquote>\n

Terra Classic Raises The Bar<\/strong><\/h2>\n

At the time of writing, the Terra Classic community has shown overwhelming support for this proposal, with <\/span>more than 90%<\/span><\/a> of votes cast in favor of the change. With such resounding support, it appears highly likely that the proposal will pass. The voting period is set to conclude on September 16, and the Terra Classic community eagerly awaits the final verdict.<\/span><\/p>\n

<\/p>\n

LUNCUSDT trading at $0.0000572 on the daily chart: TradingView.com<\/a><\/pre>\n
While Terra Classic strives to secure its ecosystem against spam, it’s worth noting that one of the project’s most promising indicators for the future lies in the steadfast support it has garnered from the world’s largest cryptocurrency exchange, Binance. This support is not a recent development but serves as a testament to <\/span>Terra Classic’s continuous evolution<\/span><\/a> and its efforts to remain at the forefront of innovation in the blockchain space.<\/span><\/p>\n
Binance’s Backing Fuels Luna Classic’s Promise<\/strong><\/h2>\n
In January, Binance officially declared its unwavering support for Terra Classic’s latest update, known as Proposal 11242. This governance proposal, backed by Binance, addresses crucial facets of Terra Classic’s evolution. Notably, it introduces measures to prevent the new minting of a portion of the burned LUNC tokens. By resetting the seigniorage reward policy, Proposal 11242 effectively safeguards against the re-coinage of tokens that had previously been burned.<\/span><\/p>\n
Related Reading: Massive PEPE Token Dump: Whale Unloads 762 Billion At Loss As Price Wobbles<\/a><\/div>\n
Seigniorage is essentially a tax collected by governments through their ability to create money, resulting in a net transfer of resources from the real economy (businesses and households) to the government.<\/p>\n
With Binance’s support and <\/span>Terra Classic’s commitment<\/span><\/a> to enhancing its ecosystem’s integrity, the project is poised for a bright future, despite recent price fluctuations.\u00a0<\/span><\/p>\n
As of the latest data available, the <\/span>current price of LUNC<\/span><\/a> stands at $0.0000572, with a 3.6% decline in the past 24 hours and a 1.9% loss over the past seven days. Terra Classic (LUNC) remains resolute in its mission to create a more secure and efficient blockchain ecosystem, and these latest developments are sure to further solidify its position in the cryptocurrency landscape.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Terra Classic (LUNC) has taken a decisive action in a bid to tackle the rising tide of spam proposals flooding its blockchain. The project recently submitted a groundbreaking proposal aimed at altering some fundamental aspects of its ecosystem to mitigate the incessant spam proposals that have been plaguing it. The Terra Classic community hopes that this move will help restore order and efficiency to its blockchain. Related Reading: Boosting Optimism Protocol: Can Incentives Drive OP Prices Higher? One of the most significant changes proposed is the substantial increase in the minimum deposit required for submitting proposals. In response to the dwindling effectiveness of a 1 million LUNC deposit due to the cryptocurrency’s recent price drop, the proposal suggests elevating the minimum deposit to 5 million LUNC.\u00a0 This move is expected to serve as a deterrent against frivolous and spammy proposals that have been inundating the platform. Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC We currently have seen an increase in “SPAM” proposals going up, since the price of LUNC has dropped, 1M LUNC is no longer effective in combatting these types of proposals, this proposal will\u2026 \u2014 Hexxagon (@hexxagon_io) September 8, 2023 Terra Classic Raises The Bar At the time of writing, the Terra Classic community has shown overwhelming support for this proposal, with more than 90% of votes cast in favor of the change. With such resounding support, it appears highly likely that the proposal will pass. The voting period is set to conclude on September 16, and the Terra Classic community eagerly awaits the final verdict. LUNCUSDT trading at $0.0000572 on the daily chart: TradingView.com While Terra Classic strives to secure its ecosystem against spam, it’s worth noting that one of the project’s most promising indicators for the future lies in the steadfast support it has garnered from the world’s largest cryptocurrency exchange, Binance. This support is not a recent development but serves as a testament to Terra Classic’s continuous evolution and its efforts to remain at the forefront of innovation in the blockchain space. Binance’s Backing Fuels Luna Classic’s Promise In January, Binance officially declared its unwavering support for Terra Classic’s latest update, known as Proposal 11242. This governance proposal, backed by Binance, addresses crucial facets of Terra Classic’s evolution. Notably, it introduces measures to prevent the new minting of a portion of the burned LUNC tokens. By resetting the seigniorage reward policy, Proposal 11242 effectively safeguards against the re-coinage of tokens that had previously been burned. Related Reading: Massive PEPE Token Dump: Whale Unloads 762 Billion At Loss As Price Wobbles Seigniorage is essentially a tax collected by governments through their ability to create money, resulting in a net transfer of resources from the real economy (businesses and households) to the government. With Binance’s support and Terra Classic’s commitment to enhancing its ecosystem’s integrity, the project is poised for a bright future, despite recent price fluctuations.\u00a0 As of the latest data available, the current price of LUNC stands at $0.0000572, with a 3.6% decline in the past 24 hours and a 1.9% loss over the past seven days. Terra Classic (LUNC) remains resolute in its mission to create a more secure and efficient blockchain ecosystem, and these latest developments are sure to further solidify its position in the cryptocurrency landscape. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from<\/p>\n","protected":false},"author":557,"featured_media":550775,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,1144,8686,86792,4735,86254],"class_list":["post-550769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-btcusd","tag-ethusd","tag-lunc-price","tag-price-action","tag-terra-classic"],"acf":[],"yoast_head":"\nTerra Classic Proposal: What's In Store For LUNC's Future?<\/title>\n<meta name=\"description\" content=\"Terra Classic (LUNC) has taken a decisive action in a bid to tackle the rising tide of spam proposals flooding its blockchain. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Terra Classic Game-Changing Proposal: What’s In Store For LUNC’s Future?","url":"http:\/\/wncen.com\/news\/terra-classic-game-changing-proposal-whats-in-store-for-luncs-future\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/terra-classic-game-changing-proposal-whats-in-store-for-luncs-future\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-41.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-41.png?fit=758%2C351"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","btcusd","ethusd","lunc price","price action","terra classic"],"dateCreated":"2023-09-11T18:00:51Z","datePublished":"2023-09-11T18:00:51Z","dateModified":"2023-09-11T18:00:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Terra Classic Game-Changing Proposal: What’s In Store For LUNC’s Future?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/terra-classic-game-changing-proposal-whats-in-store-for-luncs-future\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/terra-classic-game-changing-proposal-whats-in-store-for-luncs-future\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-41.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/a-41.png?fit=758%2C351\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"btcusd\",\"ethusd\",\"lunc price\",\"price action\",\"terra classic\"],\"dateCreated\":\"2023-09-11T18:00:51Z\",\"datePublished\":\"2023-09-11T18:00:51Z\",\"dateModified\":\"2023-09-11T18:00:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/a-41.png?fit=758%2C351","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=550769"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/550775"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=550769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=550769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=550769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}