In a new development in the Terra Classic community, proposal 11966 “Restore Validator List to 130” has been rejected by the community. The proposal aimed to streamline the process and prioritize restoring the 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.” It was stated as.
The proposal received 27% “Yes” and 50% “No” votes, while 1% “No” votes were vetoed and 21% “Abstained” votes were cast. The proposal failed to pass the threshold after Allnodes, the top validator with 15% voting power, and other validators voted “No” on the proposal.
Of the 57 validators that participated in the vote, 17 validators such as JESUSisLORD, HappyCattyCrypto, and TerraCVita voted in favor of the proposal, while 23 validators such as Allnodes, Interstake One, Luna Station 88, StakeBin, PFC, and Lunanauts voted against it.
Some validators said that the restoration of validators along with the minimum validator delegation adjustment raised concerns. According to them, “these issues should be addressed separately to ensure transparency and avoid potential red flags.”
Others cited selfishness and unethicalism as the main reasons they voted “No” on the proposal, despite considering the benefits of a large number of active validators.
LUNC and USTC Lose Upward Momentum
Koinfinans.com As we reported, LUNC crypto- Its potential delisting from exchange crypto com has raised concerns in the community. Notably, LUNC trading volumes are marginally lower than on the exchange.
LUNC price is down 2% in the last 24 hours. The price is currently trading at $0.000111. The 24-hour high and low price are $0.000103 and $0.000113 respectively. Moreover, transaction volume decreased by 15% in the last 24 hours.
Meanwhile, USTC price is down 2% in the last 24 hours and is currently trading at $0.0270. The 24-hour high and low price are $0.0257 and $0.0280 respectively. Additionally, trading volume dropped by 53%.