Concerns over Spam Proposals Prompt Proposal 11780
The Terra Luna Classic community is currently voting on several proposals, amidst growing concerns about an increase in "spam" proposals following a decline in LUNA prices. One particular proposal, titled "Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC," is being considered. Its aim is to raise the minimum deposit requirement from 1 million LUNC to 5 million LUNC, in order to create a higher barrier for scam proposals.
Countering the Influx of Spam and Irrelevant Proposals
The objective of the proposal is to counteract the flood of "spam" and irrelevant proposals that are being submitted for voting within the Terra Luna Classic community. Validators agree that the existing threshold of 1 million LUNC is inadequate in deterring these undesirable proposals. As a result, the developer team behind the community-owned Station wallet, Hexxagon, has noticed an increase in spam proposals.
Support for the Proposal
Currently, the proposal has gained support from 34% of "Yes" votes, 64% of "No" votes, and 2% of "No with veto" votes. Nine validators, including Hexxagon, Lunanauts, and Coinpayu, are in favor of the proposal.
L1 Terra Classic Task Force Prepares for Core Upgrade
While the proposal is under consideration, the L1 Terra Classic Task Force is getting ready for the v2.2.1 core upgrade, scheduled for September 12 at 9.57 UTC, according to the countdown. Furthermore, the USTC Quant team has reached out to the centralized exchange to provide them with the Buy Back Report, in an effort to reestablish the peg of USTC.
Trading Volume Surge for LUNC and LUNA
Both LUNC and LUNA have experienced a significant increase in trading volumes recently, driven by important community-approved proposals. LUNA, led by TFL, has seen a growth of over 5% in the past week, while LUNC is also displaying upward momentum in anticipation of the core upgrade by the L1TF developer team.
