Exciting Offer Accepted for USTC and LUNC: Target $1!

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Terra Classic USDThe proposal to implement measures for the re-peg (dollar constant) of (USTC) was accepted. The Terra Classic community is starting to get hopeful again on the asset’s journey to its final price target of $1. So, is this rise possible, here are the details.

As Koinfinans.com previously reported, offer number 11487, USTCIt included recommendations on the implementation of divergence fees, buybacks, and a swap and staking mechanism to help raise the price of . The proposal also includes comprehensive measures aimed at implementing these measures to ensure that the stablecoin is pegged to the dollar once it reaches $1. was suggesting.

Terra Classic The community recently accepted the offer after several discussions. While the news was being prepared, 49.24% of the votes said “Yes”, while only 6.68% of the votes went to “No”.

The majority of validators and community members who oppose it think it may be nearly impossible to get centralized exchanges’ approval for implementation. The proposal requires central exchanges to charge deviation fees of less than or equal to $1 on USTC sell orders. This represents the hard part of the job.

While the proposal was specifically aimed at re-fixing the USTC, its adoption also fueled dreams among Terra Classic advocates for the final price of the LUNC, $1.

What Does the Offer Mean for USTC and LUNC?

Koinfinans.com As we have reported, the USTC re-fixation proposal also includes a mechanism to reduce the circulating LUNC supply. The offer aims to profit from diversion fees charged from sellers attempting to purchase USTC below the fixed price, and then 45% of the profits made. LUNC intended to use it to exchange with. The resulting LUNC will then be burned or staked for removal from the supply.

The Terra Classic community has repeatedly stressed the importance of burning and staking in LUNC’s journey to its $1 price target. However, these measures were not as effective as hoped due to low implementation. For example, according to data from TerRarity, it would take five years for the community to burn just 5.7% of the LUNC supply at the current incineration rate. This means that it is very little compared to the amount required.

LUNC is currently trading at $0.0001121. Reaching $1 should register an increase of 89,196 times. Although this seems difficult for the moment, efforts continue to be made with the developments on the USTC front.

You can follow the current price action here.

Source : The Crypto Basic


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