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Kang-hoon

Thu, June 20, 2024 at 14:48

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    Kang-hoon

    • Hello, Annie.

    • Today, I have some intriguing news about the Terra Luna Classic community.

    • They have started voting on a highly debated proposal to increase the number of validators on their blockchain.

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  • Annie

    • Oh, that sounds interesting!😊 What exactly is the proposal about?

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    Kang-hoon

    • The proposal, known as Proposal 12116, aims to increase the active validator set from 100 to 130.

    • This move is intended to strengthen the network's decentralization and benefit the LUNC community.

  • Annie

    • I see.

    • Is this related to the recent settlement between Terraform Labs and the U.S. SEC?

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  • ADward

    • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

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    Kang-hoon

    • Yes, indeed.

    • After Terraform Labs and Do Kwon agreed to settle with the U.S. SEC for $4.5 billion, the community saw an opportunity to bring back validators from Terra Luna v2 to Terra Classic.

  • Annie

    • Wow, that's a significant settlement!

    • How is the voting going so far?

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    Kang-hoon

    • As of now, the proposal has received 38.04% Yes votes.

    • Interestingly, top validator Allnodes voted No, citing that the amount of LUNC required to get into the active set is not burdensome.

  • Annie

    • Hmm, that's a bit of a mixed response.

    • What about the overall community support?

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    Kang-hoon

    • Despite Allnodes' opposition, the proposal received 93.43% votes from delegates, indicating major support from the community.

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    • Among validators, 16 voted in favor, five voted No, one voted No with veto, and four abstained.

  • Annie

    • It seems like the community is largely in favor.

    • What impact could this have on the LUNC price?

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    Kang-hoon

    • Currently, the LUNC price is facing resistance levels.

    • It jumped 2% in the last 24 hours but gave up most gains.

    • The price is now trading at $0.00009079, with a 24-hour low and high of $0.00008877 and $0.00009432, respectively.

  • Annie

    • That's quite volatile.

    • What about the trading volume?

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    Kang-hoon

    • The trading volume decreased by 45% in the last 24 hours, indicating a lack of interest among traders.

    • Futures traders are mainly moving LUNC prices, with open interest jumping over 4% in the last 24 hours.

  • Annie

    • What about USTC?

    • How is it performing?

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    Kang-hoon

    • USTC price also fell more than 1%, currently trading at $0.01847.

    • The 24-hour trading volume saw a 63% drop, indicating traders' failure to hold the recovery.

    • USTC hit a 24-hour high of $0.01972.

  • Annie

    • It seems like both LUNC and USTC are struggling.

    • Do you think this proposal will ultimately be beneficial or detrimental to the market?

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    Kang-hoon

    • In the short term, I believe this news is more of a negative development.

    • The volatility and lack of trading interest suggest that the market is uncertain about the proposal's impact.

    • It might take some time before we see any positive effects.

  • Annie

    • Got it.

    • Thank you for the detailed explanation, Kang-hoon.

    • This helps a lot with understanding the current market situation.👋

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    Kang-hoon

    • You're welcome, Annie.

    • Always here to help.

    • Have a great day!

    • Upon comprehensive consideration, this news is perceived as a 😱Bearish.

알림

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