Terra Luna community adopts a large LUNC fund request with a 99.98% vote, signifying strong support for future growth.
The Terra Luna Classic community has unanimously supported the Genuine Labs Community Spend Proposal. On June 3, 2024, the proposal obtained a 99.98% acceptance rate, with virtually no opposition.
This vote is predicted to influence significantly the future course of the Terra Luna Classic network. The community’s approval of the plan to distribute 256,410,256 LUNC for development projects represents a key moment for Terra Luna Classic.
This fund is meant to support innovation and sustainability within the ecosystem. The voter turnout was exceptionally high, with 84.2 billion ballots cast, constituting a considerable portion of the overall voting power.
This substantial involvement demonstrates the community’s great interest and confidence in Genuine Labs’ strategic direction for the platform. Moreover, this near-unanimous vote demonstrates a common hope for expanding the network’s potential.
The community’s endorsement is a hint to prospective development and a commitment to the platform’s long-term viability. Such support is vital as it encourages developers to undertake projects that can provide new functionalities and improve the overall ecosystem.
Contrastingly, the Terra Luna Classic community recently rejected Proposal 12105, which attempted to increase the LUNC burn tax. The proposal was criticized for needing a solid plan and reason for its implementation.
Critics labeled it a “lazy effort” because it was only a text proposal without the power to achieve rapid change. As a result, it only gained 21.35% approval, with 32% outright rejection and 38% voting “No with a veto,” suggesting a significant desire to prevent its enactment.
This rejection illustrates the community’s demand for well-thought-out tactics rather than fast remedies. The community’s critical attitude to governance is obvious as they seek initiatives that offer clear, concrete solutions rather than transitory fixes.
Following the last community vote, LUNA, Terra Luna’s native token, had a price increase of 1.68%, with its current trading price at $0.6547. However, the 24-hour trading volume declined by 24.35%, signaling a likely continuation of the unfavorable market trend. This adjustment in market dynamics suggests that the community’s decision has positively impacted the token’s price.
