{"id":69842,"date":"2024-01-25T12:37:47","date_gmt":"2024-01-25T16:37:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=69842"},"modified":"2024-01-25T12:37:56","modified_gmt":"2024-01-25T16:37:56","slug":"terra-luna-classic-community-approves-ica-controller-parameter-proposal","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/terra-luna-classic-community-approves-ica-controller-parameter-proposal\/","title":{"rendered":"Terra Luna Classic Community Approves ICA Controller Parameter Proposal"},"content":{"rendered":"\n

Terra Luna Classic community has voted overwhelmingly in favor of the proposal to enable the ICA Controller parameter, which will fix a network glitch and allow developers to export the state of Terra Classic. <\/a>The proposal will take effect on January 28, 2024.<\/p>\n\n\n\n

\"Terra<\/figure>\n\n\n\n

The proposal, numbered 12005 and titled “Consistently set ICA Controller Parameter,” received unanimous support from the Terra Luna Classic community,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> including validators. <\/p>\n\n\n\n

It also received 99.97% votes<\/strong> in favor, surpassing the pass threshold before the deadline. The proposal deadline is January 28, 2024.<\/strong><\/p>\n\n\n\n

The proposal also received No, No with a veto, and Abstain votes, which surprised many key community members. Among the validators who participated, all 47 voted in favor of the proposal. These include Orion, Interstellar Lounge, Stakely, and Luna Station 88. <\/p>\n\n\n\n

Allnodes, a validator with 16% voting power, has yet to vote on the proposal.<\/p>\n\n\n\n

The proposal aimed at setting the parameters of the ICA Controller module of Terra Classic to “enable.” The ICA Controller module is responsible for managing the inter-chain assets (ICA) of Terra Classic, which are tokens that represent assets from other blockchains.<\/p>\n\n\n\n

The internal storage of the module is currently inconsistent due to a network glitch, preventing developers from exporting the state of Terra Classic into a genesis.json file. <\/p>\n\n\n\n

A genesis.json file is a file that contains the initial configuration of a blockchain network, and it is crucial for developers when they work on testnets for upgrades.<\/p>\n\n\n\n

By enabling the\u00a0ICA Controller parameter,\u00a0the proposal will fix the network glitch and allow developers to export the state of Terra Classic into a genesis.json file. This will enable the development and testing of new features and improvements for Terra Classic.<\/p>\n\n\n\n

Meanwhile, Terra Classic ecosystem tokens LUNC<\/use><\/svg><\/span><\/a> and USTC<\/use><\/svg><\/span><\/a> took a hit amid the recent crypto market correction, and crypto exchange Crypto.com confirmed LUNC's delisting.<\/p>\n\n\n\n

LUNC, the native token of Terra Luna Classic, dropped by 15% in the past 24 hours, trading at $0.12 as of press time. USTC, the stablecoin of Terra Luna Classic, also declined by 2%, trading at $0.98.<\/p>\n\n\n\n

\n

$ust<\/use><\/svg><\/span><\/a> & anchor making a return, this time backed by bitcoin

will be interesting to see the stablecoin experiment continue

airdropped planned for pre-crash $luna<\/use><\/svg><\/span><\/a> & $ust<\/use><\/svg><\/span><\/a> holders and also new $ustc<\/use><\/svg><\/span><\/a> holders via some sort of lockdrop

could be a decent play for $ustc<\/use><\/svg><\/span><\/a> here just in\u2026 https:\/\/t.co\/7BWe8MXkoq<\/use><\/svg><\/span><\/a><\/p>— ian (@cryptoian) November 25, 2023<\/use><\/svg><\/span><\/a><\/blockquote>

Coincreed previously reported that Crypto.com,<\/a> one of the leading crypto exchanges, announced that it will delist LUNC from its platform, effective from January 31, 2024. <\/p>\n\n\n\n

The exchange cited low trading volume and liquidity as the reasons for the delisting. Crypto.com users who hold LUNC will have to withdraw their tokens before the deadline, or they will lose access to them.<\/p>\n","protected":false},"excerpt":{"rendered":"

Terra Luna Classic community has voted overwhelmingly in favor of the proposal to enable the ICA Controller parameter, which will fix a network glitch and allow developers to export the state of Terra Classic. The proposal will take effect on January 28, 2024. The proposal, numbered 12005 and titled “Consistently set ICA Controller Parameter,” received […]<\/p>\n","protected":false},"author":44,"featured_media":69844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[130],"tags":[18054,9703],"class_list":["post-69842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","tag-ica-controller","tag-terra-classic"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/terra-lunc-classic.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/69842","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=69842"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/69842\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/69844"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=69842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=69842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=69842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}