proposal Archives - Cryptolifedigital

50 Million ADA Funding For Cardano Builders: Builder’s Proposal To be Decided By ADA Holders

3Feb

By Daniel AbangNo Comments

Cardano

50 Million ADA Funding For Cardano Builders: Builder’s Proposal To be Decided By ADA Holders

The Cardano Research and Development Team Input Output Global (IOG) delivered its report for the week, featuring continuous turns of events and key achievements accomplished by the prominent blockchain. https://twitter.com/InputOutputHK/status/1753371119938089368 Read Also: Erratic Growth For Cardano (ADA): Intense Volatility Experienced ADA Up To 50 Million The report's main part is the mention of the continuous voting process for Project Impetus' Fund11. As indicated by the report, the Fund11 voting process that began somewhere last month has grabbed the attention of 5,000 wallets and more since its beginning. These wallets have altogether projected over 150,000 votes across 920 proposals, looking for community financing as much as ($26.1 million). Curiously, the initiative...

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. ...

Voter Expresses Concerns and Votes Against LUNC Proposal 11554. Was He Right?

20Jun

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Voter Expresses Concerns and Votes Against LUNC Proposal 11554. Was He Right?

In the latest vote on Proposal 11554 by Lunanauts, a LUNC Validator, a participant has chosen to vote against the proposal and has provided a detailed explanation for their decision. The voter expressed concerns about the implementation and potential unintended consequences of the proposal, outlining several key points. https://twitter.com/Lunanauts_Lunc/status/1671096770170847232 The voter Raises The following Concerns, He Votes No for Proposal 11554 The primary concern raised by the voter is the potential impact on passive investors. The proposed tax on non-transacting and non-staked tokens may penalize holders who choose not to engage actively with their LUNC tokens. The voter believes that every holder, regardless of their level of activity, contributes to the stability of the LUN...

Terra Classic (LUNC) Proposes To Upgrade Its Network to Version 2.0.1

10May

By OLAJIDE SAMUELNo Comments

Terra Classic (LUNC)

Terra Classic (LUNC) Proposes To Upgrade Its Network to Version 2.0.1

The Terra Classic (LUNC) community has been working tirelessly to revitalize the network, and they have taken another step towards this goal with the latest proposal for an upgrade to version 2.0.1. This proposal seeks community consensus and aims to bring the Terra Classic network closer to achieving parity with other blockchain networks. The proposal For LUNC Network Upgrade Is Under Deliberation The proposal was recently made public and is open for discussion and voting by the community. It outlines the various upgrades and improvements that will be implemented in version 2.0.1, including better transaction throughput, enhanced security features, and improved network performance. Read Also: Beginner's Guide On How To Navigate Through Binance Exchange App https://twitter.com/lunc...

Terra Classic Developer Proposes To Eliminate LUNC Canonical Repository. Would This Enhances Decentralization?

7Jan

By OLAJIDE SAMUELNo Comments

Blockchain

Terra Classic Developer Proposes To Eliminate LUNC Canonical Repository. Would This Enhances Decentralization?

According to a recent tweet by Edward Kim, the Terra Classic developer and an associate professor at Drexel University say that the existing canonical repository for the Terra classic blockchain should be refuted. The implication of the recent proposition of the developer is that there will not be any room for the central authority to access the code changes again and that will enhance the decentralized that the blockchain portrayed in the first place. Read Also: KuCoin Highlights Reasons For Undelegating The 48B LUNC. Here's Why https://twitter.com/edk208/status/1611111278444953600 Terra Classic Canonical Repository To Cease The drive behind the suggestion is fully stated in the proposal open for the community to contribute. According to Ed, Terra Classic developers are...

Terra Classic Releases Proposal 11243 To Get LUNC Gas Fees Increased. Is It A Plus?

5Jan

By OLAJIDE SAMUELNo Comments

Blockchain

Terra Classic Releases Proposal 11243 To Get LUNC Gas Fees Increased. Is It A Plus?

The community of the Terra Classic releases proposal 11243 which is designed to increase LUNC gas fees by up to 5X. Although the proposal did not go well with some of the community members a few members voted a “No” while the minority voted a “Yes” already. Proposal 11243 To Increase The LUNC gas fee The proposal is the second part of a more significant proposition created three days ago, which suggested that the community deprecate the Seigniorage Reward Policy, thereby stopping the reminting of 10% of already-burned tokens. Read Also: Santiment Declares XRP As The Crypto Pick For January. Here's Why An anonymous community member Dfunk released the proposal and highlighted some of the drives behind the motion in the writing of the proposal. The author mentioned the drastic de...

Terra Classic To Allocate Over $141,000 Worth Of LUNC To Joint L1 Task Force As Proposal 11168 Successfully Passed

3Jan

By CryptolifedigitalNo Comments

Blockchain

Terra Classic To Allocate Over $141,000 Worth Of LUNC To Joint L1 Task Force As Proposal 11168 Successfully Passed

The recent proposal 11168 which was brought up by one of the core developers at the Terra Classic (LUNC), Edward Kim, has been passed successfully, and consequently Joint L1 Task force To get its support. A recent tweet shared by the LUNC influencer Classy revealed that the new proposal has crossed the threshold and allowed the Terra Classic network to allocate an amount worth over $141K in LUNC to the Joint L1 Task Force. Read Also: Attorney Deaton Says SEC's Settlement With Ripple Is Unlikely. Here's Why https://twitter.com/ClassyCrypto_/status/1609952033557344261 Joint L1 Task Force To Get Support As Proposed According to the proposal, the funds that will be allocated as a result of the proposal will be channelled towards the development work in updating and stabilizi...

Terra Classic Developer Initiates The Voting For The Reopening Of IBC By December 5.

24Nov

By CryptolifedigitalNo Comments

Blockchain

Terra Classic Developer Initiates The Voting For The Reopening Of IBC By December 5.

Before this time, Edward Kim released an update on his proposal to reopen the Inter Blockchain Communication before the Terra classic network upgrade, in his tweet today, he revealed has just initiated the voting of the proposal of reopening the IBC. As the previous post stated, the reopening will only be done provided the community of the LUNC supported the process as the reopening was slated previously slated to occur with the network upgrade that shall be happening by Q4, 2022. Terra Classic Has Started Voting For The Reopening Of IBC Edward noted; “Another proposal… Re-enable IBCs to Osmosis, Juno, and Crescent. Happy Thanksgiving!” Kim wrote, sharing the link for community members to vote. https://twitter.com/edk208/status/1595638311892258817 If the proposal passes, ...

Terra Grants Program Running To Claim 1.6 Million USTC, As Proposal 8813 Got A 92.15% Yes

7Nov

By OLAJIDE SAMUELNo Comments

Blockchain

Terra Grants Program Running To Claim 1.6 Million USTC, As Proposal 8813 Got A 92.15% Yes

According to Sunday’s tweet, Crypto Classic noted that proposal 8813 had passed the governance vote, in this view, a total of 1.6 million USTC is going into the new grants program running. As gotten from the voting record, 62% of the community took part in the voting with a total of 92.15% voting “yes,” while 7.66% opted to abstain, with only 0.1% voting against it, showing overwhelming support. Read Also: Terra Classic Spikes 273% In Three Months, 25% In 24 Hours, LUNC Revives Daily https://twitter.com/ClassyCrypto_/status/1589291464755798017 Kim is to get $57,600 worth of Terra classicUSD (1.6 million USTC) from Terra Classic as he rolls out the grants program Following the community approval of the recent proposal. The Terra Classic community get ready to roll out a ...

Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs

23Jul

By CryptolifedigitalNo Comments

Ethereum

Ethereum CEO, Buterin Vitalik Suggested solving Efficient Issues With How Memory Consumption Is Limited On The EVM In Order To Adjust Memory Gas Costs

Unfortunately, the increased adoption of Ethereum’s network has been seriously endangered due to the unbearable gas fees and scalability concerns. For this reason alone, various DeFi projects consider to launching on the competing Layer 1 blockchain. For instance, Yuga Labs proposed that the ApeCoin DAO consider a migration to another Layer 1 blockchain. The vote was initiated then and the network voted against it narrowly. If not by now the project would have migrated to Avalanche. The Ethereum CEO, Buterin, proposed earlier how the memory gas costs can be adjusted. He suggested solving efficient issues with how memory consumption is limited on the EVM. https://twitter.com/VitalikButerin/status/1550741734082191362 Vitalik stated in the post “Currently, we limit the memory c...