Terra Classic community has begun voting on a key proposal to introduce an official organization that will be responsible for hosting the endpoint that provides accurate circulating supply data for Terra Classic. The best validator Allnodes will manage the endpoint to protect against a single person making unauthorized changes to the supply without approval.
Allnodes’ management of the endpoint will help prevent someone from making changes to the supply without approval. This measure could be an important step to maintain the accuracy of Terra Luna Classic’s supply data and the safety of the community. If this proposal is accepted as a result of the voting, the establishment of the official organization and the creation of the endpoint under the management of Allnodes will occur.
Terra Classic Brings Allnodes for Endpoint Management
Proposal 12103 aims to identify and secure endpoint an official organization that will provide accurate circulating supply data for Luna Classic. The recommendation suggests choosing Allnodes as the best validator. It also aims to set a standard for calculating circulating supply.
According to the proposal, Allnodes will need to update to the latest FCD (Full-Featured Community Development) version and implement a specific circulating supply calculation. This calculation is as follows: Circulating Supply = Total Supply – Uninvested Coins – Community Pool Held Coins – Staked and Linked Coins.
This recommendation encourages using the Allnodes FCD API as the official source of information about the circulating supply of Terra Luna Classic. This will reduce the risk of altering the circulating supply or total supply by ensuring that third-party websites have access to accurate data and that it comes from a trusted source.
According to the voting results for the proposal, 56% voted “Yes”, while 3% voted “No”, 41% voted “No with veto” and 1% voted “Abstained”. Although major endorsers such as Community First LUNC, Hexxagon, LUNC Development Fund, etc. have supported the proposal, top endorsers have not yet voted. Voting will end on May 18 and the results will become clear on that date.
LUNC and USTC Approaching an Upward Breakout
Recently LUNC and USTC News of skyrocketing prices has revived burn-and-destroy rhetoric in the Terra Classic community. The community is embarking on USTC and LUNC burning efforts in the LFG wallet to reduce the total supply.
LUNC price is up 1% in the last 24 hours and is currently trading at $0.0001052. The highest and lowest prices were recorded at $0.0001062 and $0.0001007 respectively. Transaction volume increased by 28% in the last 24 hours, indicating trading activity. One analysis predicts a target price of $0.0005.
On the other hand, USTC price is down 2% in the last 24 hours and is currently trading at $0.0227. The lowest and highest prices were recorded as $0.02233 and $0.02389 respectively.
