Clay, host of the ClayBro YouTube channel, said in a recent video that a $130,000 spending proposal Terra Luna Classic He said he was largely rejected by his community. The proposal joins a growing list of other proposals agreed upon by the community this month.
Specifically, the $130,000 spending proposal is to develop the Terra blockchain for the next quarter. The funds will primarily go towards developing the infrastructure of the blockchain. Additionally, nodes will be paid $10,000 monthly from the fund.
Voting on the proposal will end on October 4. However, more than 50% voted against the proposal, while 22.5% supported it. Additionally, 26% abstained from voting, while 0.06% vetoed the proposal. According to Clay, another 200 billion Terra votes are needed for the proposal to pass.
Meanwhile, the Terra Luna Classic community is also voting on other proposals surrounding the blockchain. Specifically, the suggestion to whitelist coin wallets for off-chain burns. The proposal also includes applying an additional fee of 0.5% to burned LUNC and USTC transactions based on the exchange volume they receive.
According to the video, Clay said Terra Luna needed to burn tokens to see some growth. The proposal has received public support with 99.84% yes votes so far. 0.05% voted against, while 0.12% abstained. Voting on the proposal will end on October 7.
Another proposal to add a burn option to LUNC trading pairs on exchanges also failed. 48 voted against, while a marginal 0.55% voted in support. 51 of them chose to abstain.
Similarly, the community also rejected a proposal for a $45,000 monthly salary for blockchain developers. While Clay acknowledged the depth of the developer team’s work on the blockchain, he said the community cannot afford the $45,000 salary right now.