The Luna Classic community recently voted in favour of Proposal 11242 The proposal will stop the re-minting of burnt LUNC and raise the gas price After the catastrophic Terra collapse, Terra Classic [LUNC] has been working tirelessly to ensure its recovery. Although the rally was initially challenging, it became more so due to the widespread […]
tokens were re-minted from the 0.2% burn tax and added to the community pool. The acceptance of the proposal effectively ended LUNC re-minting burns by setting the seigniorage reward policy to zero.
The other part of the proposal sought to fund the community oracle pool by doubling the network’s gas prices, which would, in turn, raise staking rewards.its support for the proposal, which calls for an upgrade to be implemented on 14 January. Binance announced support for the upgrade in a press release dated 13 January. The exchange would also temporarily halt deposits involving USTC, LUNC, and ANC.On the chart for the daily timeframe, LUNC responded favourably. Its value climbed by 4.
There has been a significant uptick in LUNC development efforts as well. An increase that coincides with the scheduled network upgrade. The token’s Development Activity as of this writing was 15.45. The metric’s current value represents an all-time high, surpassing that of the last six months by a wide margin.Subscribe to get it daily in your inbox.
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