The Terra Luna Classic (LUNC) community rejected two key proposals that would have helped strengthen the utility and security of the Terra Classic chain. A major validator with 15% voting power and other validators voted against the proposal, opposing the goal of introducing support for the Ethereum virtual machine (EVM) and restoring the validator count to 130.
Terra Luna Classic proposals rejected
Proposal 11978”Review EVM functionality” is rejected by the Terra Luna Classic community. It was close to approval, but last-minute votes from a number of validators led to its failure. Notably, the proposal was still approved with 44.94 % of votes “Yes” and 42.81% of “No” after the Allnodes vote.
Lead validator Allnodes voted “No” to the proposal, opposing research into EVM capabilities on the LUNC chain. Allnodes said in a statement: “Even focusing on just one compiler, the short-term cost for research and development, but also the potential long-term maintenance cost remains unclear. An evaluation of this should be made before considering a positive signal for funding.”
The EVM would expand the use cases of Terra Luna Classic by bringing the programmability and composability of the EVM and the sovereignty and interoperability of the Cosmo.
Allnodes also voted “No” to Proposal 11966”Reset validator list to 130“. The proposal aims to streamline the process and prioritize the restoration of 130 validators on the Terra Classic chain. “Our goal is to ensure the continued decentralization and robustness of the network while minimizing the burden on developers.”
The proposal has 30% of the “Yes” votes and 49% of the “No” votes. Validators such as JESUSisLORD, HappyCattyCrypto and TerraCVita support the proposal, while Allnodes, Interstake One, Luna Station 88, PFC and Lunanauts.
Read More: LUNC Price Rises 5% and USTC 12% After Major Security Update Package Announcement
LUNC and USTC pump
The price of LUNC has increased by 1% in the last 24 hours, with the price currently trading at $0.000126. The 24-hour high and low are $0.000120 and $0.000128, respectively. Furthermore, trading volume has increased by 85% in the last 24 hours, indicating an increase in interest among traders.
Meanwhile, USTC price is currently trading at $0.0307, up more than 8% in the past 24 hours. The 24-hour high and low are $0.0286 and $0.0327, respectively. Trading volume increased by 300%.
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