{"id":51221,"date":"2023-06-02T09:26:29","date_gmt":"2023-06-02T13:26:29","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=51221"},"modified":"2023-06-02T09:26:31","modified_gmt":"2023-06-02T13:26:31","slug":"terra-classic-community-vote-on-proposal-plan-for-lunc-ustc-to-1","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terra-classic-community-vote-on-proposal-plan-for-lunc-ustc-to-1\/","title":{"rendered":"Terra Classic Community Vote On Proposal Plan for LUNC, USTC to $1"},"content":{"rendered":"\n

The Terra Classic<\/a> community attempts to revive LUNC and USTC prices to $1 through numerous means. Currently, the congregation voted on a signaling proposal that claims to revive the LUNC price to $1.<\/p>\n\n\n\n

\"Terra
Terra Classic Community Vote On Proposal Plan for LUNC, USTC to $1<\/figcaption><\/figure>\n\n\n\n

Proposal 11549, “Final Vision Plan for LUNC to $1+”, by validator JESUSisLORD, seeks to increase the LUNC on-chain tax to 1.5%, in addition to a 1.2% burn tax and 0.3% community pool tax.<\/p>\n\n\n\n

The earlier proposals to enhance staking rewards and exempt decentralized applications<\/a> from the on-chain tax will continue to be implemented. <\/p>\n\n\n\n

The proposal requests the assistance of the community to persuade cryptocurrency exchanges to support the 1.2% burn tax.<\/p>\n\n\n\n

The proposal has received only 20% support and 77% “No with veto” ballots. Top validators, including TCB, MAX, LunaClassic.com, LUNC Development Fund, and Lunanauts, voted “No with veto” on the proposal, with other top validators yet to vote.<\/p>\n\n\n\n

Due to the high burn tax, some Terra Classic community members are urging others to vote NO or NO with a veto on the proposal, as it could affect LUNC trading volumes on crypto exchanges<\/a> and deter whales.<\/p>\n\n\n\n

In the meantime, Terra Classic will endure a significant v2.1.0 upgrade on June 14, bringing it to parity with other blockchains such as Terra 2.0 and Cosmos. <\/p>\n\n\n\n

The community believes that the CosmWasm v2.1.0 parity enhancement can revive LUNC to $1 by restoring the chain's utility.<\/p>\n\n\n\n

In addition, core developer Edward Kim\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>‘s “Block Entropy” AI app chain will shortly be integrated into Terra Classic. Block Entropy's developers have revealed several Block Entropy features.<\/p>\n\n\n\n

LUNC Price Sees Increase <\/h2>\n\n\n\n

The price of LUNC increased by 1% in the past twenty-four hours, and it is currently trading at $0.000085. The 24-hour low is $0.0000842, and the 24-hour high is $0.0000857. <\/p>\n\n\n\n

However, trading volume continues to decline, indicating traders' absence of interest.<\/p>\n\n\n\n

The price rebounded from $0.000083 due to Binance LUNC burn and a rise in sentiment due to several upcoming significant changes to the blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Terra Classic community attempts to revive LUNC and USTC prices to $1 through numerous means. Currently, the congregation voted on a signaling proposal that claims to revive the LUNC price to $1. Proposal 11549, “Final Vision Plan for LUNC to $1+”, by validator JESUSisLORD, seeks to increase the LUNC on-chain tax to 1.5%, in […]<\/p>\n","protected":false},"author":12,"featured_media":51226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[7713,9704,9703,11253],"class_list":["post-51221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-altcoin","tag-lunc","tag-terra-classic","tag-ustc"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/image.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=51221"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/51221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/51226"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=51221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=51221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=51221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}