Terra Classic Votes on Phoenix Directive: A Push for Alliance Reform and Ecosystem Growth
The Terra Classic (LUNC) community is currently engaged in a crucial vote on a new on-chain proposal, the Phoenix Directive – Alliance Reform and Ecosystem Growth Initiative. This proposal aims to reshape the existing chain alliance contract and incentivize its positive contributions to the LUNC ecosystem.
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The Phoenix Directive Explained
The core objective of the Phoenix Directive involves establishing a specific reward weight for both the chain alliance contract and the AM (Automated Market Maker) within the LUNC ecosystem. This reward weight will determine the allocation of staking rewards distributed to these entities.
However, the proposal itself remains light on details regarding the exact weight allocation. It proposes a community vote to decide on the specific percentages for the chain alliance contract and the AM.
Potential Benefits of the Phoenix Directive
Proponents of the Phoenix Directive believe it can have a positive impact on the LUNC ecosystem in several ways:
- Strengthening the Chain Alliance: By allocating a portion of staking rewards to the chain alliance contract, the proposal aims to incentivize collaboration and coordinated efforts among validators. This could lead to more efficient network operation and improved decision-making.
- Boosting AM Liquidity: An allocated reward weight for the AM could incentivize increased liquidity, which can benefit traders and promote a more stable price environment for LUNC.
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Questions and Considerations
While the Phoenix Directive offers potential benefits, some questions remain:
- Balancing Rewards: Determining the optimal reward weight allocation for the chain alliance and AM is crucial. Setting them too high might divert rewards from other important stakeholders like individual stakers.
- Transparency and Specificity: The proposal could benefit from increased transparency regarding the specific weight allocations being considered. This would allow the community to make a more informed decision during the voting process.
The Road Ahead
The outcome of the Phoenix Directive vote will significantly impact the LUNC ecosystem. If approved, the proposal will implement a new reward structure for the chain alliance and the AM. This could potentially lead to positive changes in network governance and liquidity.
However, the community must carefully consider the potential implications of this proposal and ensure a balanced approach to reward allocation. Open discussion and a well-informed voting process are crucial for the future of Terra Classic.
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