In a decisive move, the LUNC community has given resounding approval to the Terra Luna Classic v2.3.0 upgrade proposal through governance voting. This upgrade, which integrates Terrad client v2.3.0, introduces a dynamic validator commission system known as the dyncomm module. The community embraced the proposal with a 93% “Yes” vote, signalling strong support for the changes. The proposal implementation is slated for block 15493370, expected around 11:18:44 UTC on November 20.
Track minimum commission (set by dyncomm) along with the current commission pic.twitter.com/uOYr7yDqJV
— StakeBin (@StakeBin) November 20, 2023
Dynamic Validator Commissions Enhance Protocol Logic
A key highlight of the v2.3.0 upgrade is the introduction of the dyncomm module, which dynamically determines the minimum commission paid to validators based on their voting power. This innovative approach aims to create a fair and efficient system for compensating validators, aligning with the decentralized ethos of the Terra Luna Classic ecosystem.
Out of the 60 participating validators, 58, including prominent names like Allnodes, Interstellar Lounge, HappyCattyCrypto, Interstate One, and TerraCVita, voted in favour of the proposal. The overwhelming community support, with only a 7% “Abstain” vote, underlines the consensus-driven decision-making process within the LUNC community.
LUNC Price Movement and Community Measures
LUNC is currently trading at $0.000077, displaying a 0.34% increase in the past 24 hours despite a recent 8.47% decline over the past week. The community’s proactive measures, including the recent surge in LUNC’s price driven by a proposal to control USTC minting, reflect a concerted effort to restore USTC to its $1 peg and elevate LUNC’s standing in the crypto market.
A recent community initiative to burn 50% of USTC trading fees on Binance, the world’s largest crypto exchange, further underscores the commitment to strengthen the stability of the Terra Classic ecosystem. While the effects of these proposals on LUNC’s price may take some time to materialize, the community remains optimistic about the long-term impact.
Despite the recent week-long decline, LUNC has seen an impressive 40% gain in the past month, fueled by strategic community actions and proposals aimed at achieving stability and growth.
CoinCodex’s AI Predictions and Community Expectations
Amidst these developments, CoinCodex’s machine-learning algorithm has weighed in on LUNC’s future trajectory. While not anticipating an immediate return to its all-time high, the algorithm provides bullish predictions for LUNC over the next few years. The community is closely watching these developments, with heightened anticipation for the positive impact of the approved upgrade and ongoing initiatives.
As LUNC continues its journey toward stability and growth, the community’s collaborative efforts and strategic measures position it for potential success in the evolving crypto landscape.