1.2% Burn Proposal Archives - Cryptolifedigital

Terra Luna Classic Eyes Dedicated Dev Team, Community Decides Roles

12Apr

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Luna Classic Eyes Dedicated Dev Team, Community Decides Roles

The Terra Luna Classic (LUNC) community is voting on a proposal to establish a core team responsible for the blockchain's development. This follows the disbandment of the Joint L1 Task Force (JL1TF) earlier this year. Proposal: Establish a Terra Classic Team The proposal, titled "Establish a Terra Classic Team" (Proposal 12093), seeks community approval for a permanent team funded from the community pool. Similar to Terraform Labs for Terra (LUNA), this team would focus solely on the Terra Classic blockchain. Read Also: Solana Outage Raises Concerns About Network Scalability Details regarding specific roles, salaries, and team size are to be determined in a follow-up proposal contingent on the current one's success. The Terra Luna Classic community and validators will discuss and f...

Successful Vote on Proposal #11873 Signals Positive Momentum for $LUNC

16Nov

By CryptolifedigitalNo Comments

Terra Classic (LUNC)

Successful Vote on Proposal #11873 Signals Positive Momentum for $LUNC

In a significant milestone for the $LUNC community, Proposal #11873 has achieved the required quorum, with an overwhelming majority of positive votes. The outcome, as reported by strathcole, suggests a promising direction for the cryptocurrency, marking a crucial step towards overcoming development barriers and addressing tax calculation issues associated with #luncburn. Read Also: Terraport Finance Rallies Community Spirit Amidst LUNC's Approach to Critical Psychological Level https://twitter.com/ColeStrathclyde/status/1725081474041278643 Quorum Achieved: A Positive Sign for $LUNC The successful voting on Proposal #11873 indicates strong community support and a shared vision for the future of $LUNC. With 22 hours remaining in the voting process, stakeholders are expressing optimis...

Terra Classic Community Proposes Burning 899 Million LUNC Tokens to Restore Trust with Binance

27Jun

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic Community Proposes Burning 899 Million LUNC Tokens to Restore Trust with Binance

In a bid to restore trust and strengthen their partnership with Binance, the Terra Classic community has put forward Proposal 11582, which aims to incinerate over 899 million LUNC tokens. These tokens, previously burned by Binance, were reminted by the community through past proposals to increase the community pool funds. The contentious issue of reminting tokens without third-party approval led to a suspension of burns by Binance last December. The exchange agreed to resume burns only after the community eliminated the reminting mechanism. However, the reminted tokens were not included in the burning process. Community member Powski has submitted the new proposal, advocating for the burning of the reminted LUNC tokens as a gesture of goodwill towards Binance and other stakeholders. ...

USTC Quant Team Proposal 11597 Takes Center Stage for Decentralized Money

26Jun

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

USTC Quant Team Proposal 11597 Takes Center Stage for Decentralized Money

In a bid to embrace the principles of decentralization and democratize the financial system, the USTC Quant Team has presented their groundbreaking proposal, known as 11597. To allow individuals to have a say in shaping the future of money, this proposal is now up for a vote, urging all stakeholders to make their voices heard. Proposal 11597 Aims to address the centralized nature of traditional monetary systems. Tweeted by RedlineDrifter, a prominent advocate for decentralized technologies, the proposal seeks to address the centralized nature of traditional monetary systems and bring about a more inclusive and transparent financial landscape. Read Also: XRP Forensics Uncovers The Hacker's Route That Recently Laundered XRP Ledger (XRPL). Here's How https://twitter.com/RedlineDrifte...

Tota Burned LUNC Stands At 3.08 Billion As 1.2% Burn Proposal Is Duly Followed

26Aug

By Cryptolifedigital1 Comment

Cryptocurrency

Tota Burned LUNC Stands At 3.08 Billion As 1.2% Burn Proposal Is Duly Followed

The LUNCARMY has resumed their activities with full force as the number of tokens burned now hit over 3 Billion LUNC. The good news was revealed on the LUNC Burn’s Twitter handle in the course of analyzing the volume traded in the last 24 hours. https://twitter.com/LunaBurn_13/status/1562885463891152896 According to the tweet, the LUNC volume traded in the last 24 hours is $157 million and per the 1.2% burning proposal which was passed some month ago which says 1.2% of transactions in the community will be burned to maintain the price of the token. Read Also: Binance Sets To Update Its Cardano Nodes Ahead Of Vasil Hard Fork As reported by the LUNC Burn; “Total burned LUNC stands at 3,080 billion. The volume traded in the last 24hrs is $157m, 1.2% of that is $1.88m at these p...