The Terra Classic community witnessed a drama in voting regarding proposal 11459 by the Terra Rebels developer group. The proposal from the prominent developer group almost passed, but validator Allnodes, with 15% voting power, voted “No” on the proposal and turned the tables on Terra Rebels.
Some believe this happened because of a recent feud between Allnodes and Terra Rebels. The proposal will not pass, as it received only 30% votes in favor and more than 60% “No” and “Abstain”.
All nodes in one tweet revealed on April 15 that it had voted “No” to proposal 11459 due to a lack of transparency about the nodes deployed and the requests handled by Terra Rebels. The developer group has shared details about nodes and servers that handle scalability and distributed storage. However, Allnodes responded that it will support the proposal after “TFL team testing and confirms endpoint scalability.”
Thank you for the quick answer. We will support the proposal after the TFL team has tested and confirmed the scalability of the endpoint. Community comes first.
— Allnodes (@Allnodes) April 15, 2023
Terra Rebels is seeking $37,593 in LUNC tokens from the common pool, with $7,593 for running costs and $30,000 for wages. The funds will help with running costs and technical support of Rebel Station Infrastructure for 3 months.
Several validators, including Allnodes, StakeBin, LUNC DAO, TerraCVita, and Luna Station 88 voted “No” to the proposal. Meanwhile, Orion, NITAWA, JESUSisLORD, MAX and Stakley.io voted in favor of the proposal.
Terra Classic (LUNC) Price lacks momentum
The Terra Luna Classic community is facing a minor crisis as core developers Ed Kim and Tobias “Zaradar” Andersen have left the Joint L1 Task Force development team. The developer group and Terra Grants Foundation (TGF) are falling apart.
The community voted against the latest proposal 11463 “Expanded and completed L1 task force” [v3] (Q2 2023)” seeking funding to continue development, updates and maintenance of the Terra Classic blockchain with another team.
The price of LUNC is down 2% in the last 24 hours with the price currently trading at $0.000127. The 24-hour low and high are $0.000126 and $0.000130, respectively. In addition, the trading volume has decreased by 25% in the past 24 hours, indicating a decrease in interest among traders.
Also Read: Cardano (ADA) Price Breaks Above Key Levels, Will It Reach $1 In 2023?
Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post Terra Classic Community Divided Over Major Proposal, LUNC Price Drops?
was published first on https://coingape.com/terra-classic-community-remains-divided-on-key-proposal-lunc-price-to-fall/