Terra Luna Makes Updates to Fight Spam Offers

Crypto News– In light of recent price declines, the community has voiced concerns and taken proactive measures.

Terra Luna Makes Updates to Fight Spam Offers

Among the prominent proposals currently under discussion, Proposal 11780 titled “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC” holds a central role. This proposal seeks to raise the minimum deposit requirement from 1 million LUNC to a significantly higher threshold of 5 million LUNC. The community’s objective is to establish a more substantial barrier for “spam” and irrelevant proposals, thereby ensuring that only genuinely worthwhile proposals advance beyond the deposit phase. This strategic maneuver is designed to mitigate the influx of undesirable proposals that have recently inundated the Terra Luna Classic community.

Validators have reached a consensus that the current 1 million LUNC threshold is insufficient in deterring these unwanted proposals. Hexxagon, the developer team responsible for the community-owned Station wallet, has observed a substantial uptick in spam proposals, underlining the urgency of addressing this issue. As of the latest available data, Proposal 11780 has garnered support from 34% of “Yes” votes, while 64% have cast “No” votes, with an additional 2% representing “No with veto” votes. Importantly, nine validators, including Hexxagon, Lunanauts, and Coinpayu, have expressed their support for the proposal.

Concurrently, the L1 Terra Classic Task Force is diligently preparing for the forthcoming v2.2.1 core upgrade scheduled for September 12 at 9.57 UTC, as indicated by the countdown. This upgrade marks a significant milestone for the community, promising an array of enhanced features and functionalities.

Furthermore, the USTC Quant team has initiated communication with centralized exchanges, providing them with the Buy Back Report in an effort to reestablish the peg of USTC.

These developments underscore the Terra Luna Classic community’s unwavering commitment to promptly and strategically addressing challenges as they navigate the ever-evolving landscape of decentralized governance and digital assets.