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Terra Classic (LUNC) Community Rejects USTC Burn Proposal Amid Legal and Technical Concerns

20Dec

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC) Community Rejects USTC Burn Proposal Amid Legal and Technical Concerns

The Terra Classic (LUNC) community faces a pivotal moment as it rejects a proposal to burn 800 million USTC due to concerns over technical complexities and potential legal implications. The decision reflects the community's commitment to finding alternative solutions for reducing the circulating supply while navigating challenges. Read Also: INDODAX Celebrates Milestone with Addition of BoneShibaSwap (BONE) to Crypto Marketplace Rejected Proposal and Community Sentiment In a crucial vote, the Terra Classic community turned down Proposal 11913, titled "RH MultiSig Wallet – Burn 800m via Update to Terrad Client." The proposal aimed to burn dormant USTC held within the Risk Harbor multisig wallet. However, it received only 14.24% "Yes" votes, with a significant 50.02% "Abstain" vote, and...

IOTA Establishes Regulated Entity in Abu Dhabi to Spearhead Global Digital Asset Ecosystem Development

Abu Dhabi, November 30, 2023 – IOTA, a leading blockchain protocol, has achieved a significant milestone by becoming the first regulated and compliant entity to lead the development of a global digital asset ecosystem under the Abu Dhabi Global Market (ADGM) in the United Arab Emirates (UAE). The newly established entity, funded with a substantial $100 million from the IOTA token treasury, will play a pivotal role in advancing the growth of IOTA across the Middle East and North Africa (MENA) region, Africa, and Asia. In entering the UAE market, IOTA is strategically focusing on trade and logistics, trade finance, and institutional investors. Read Also: Terra Classic (LUNC) Witnesses Soaring Prices: Unraveling the Surge and Future Prospects Facts about the IOTA Foundation The IOTA F...

IOTA Treasury Vote Ends Today: IOTA Community

The deadline for the IOTA community vote happens today, the vote commenced on the 27th of May, and this was done to give the community room to decide the fate of the IOTA tokens left unclaimed since the commencement of the project. Read Also: The Dogecoin To Be Integrated Into The Big3 According To The Timothy Stebbing, A Director At The Dogecoin Foundation, And The Rapper Ice Cube Mechanism of Vote The community is allowed to vote on whether the IOTA tokens left should be used for the support of the projects in the IOTA ecosystem or the tokens should be burnt. To cast the vote, individuals need to be fully informed of the procedure. Fact About the Treasury. The treasury is the first in the history of IOTA. It makes a significant step forward in terms of community gover...