Lunc Crypto News: Terra Luna Classic Proposal Conflicts with Binance and CoinMarketCap

Lunc Crypto News: Terra Luna Classic Proposal Not Aligned with Binance and CoinMarketCap

Crypto News– A developer from the Terra Luna Classic community has raised a significant caution regarding a recent proposal that is currently up for voting. The proposal suggests transferring the endpoints responsible for providing accurate LUNC circulating supply data to Allnodes, a top validator platform. This move is intended to ensure that the data reflecting the LUNC circulating supply is precise and reliable.

The developer explained that the main goal of this proposal is to have an official organization or platform, like Allnodes, take over the responsibility of hosting these endpoints. By doing so, the community can prevent any unauthorized individuals from making changes to the c supply data without proper approval. Unauthorized modifications could lead to inaccuracies, which would undermine the trust and integrity of the data that the entire community relies on.

The importance of this proposal cannot be overstated. Currently, the Terra Luna Classic supply data is vulnerable to potential manipulation or unintentional errors when managed by individuals without proper oversight. Transferring this responsibility to a well-established and respected platform like Allnodes would mitigate these risks. It would ensure that any changes to the supply data are subject to community approval, thereby maintaining transparency and accountability.

Moreover, the developer highlighted that accurate supply data is crucial for the health and credibility of the Terra Luna Classic ecosystem. The LUNC circulating supply information is not just numbers; it’s a cornerstone that affects decision-making, trading, and overall trust in the network. Without accurate data, the community’s efforts to build and sustain the ecosystem could be severely hampered.

As the voting on this proposal continues, the developer urged all community members to think carefully about the benefits of securing an official platform for managing the endpoints. The long-term stability and integrity of the Terra Luna Classic ecosystem depend on such measures. By supporting this proposal, the community would be taking a proactive step towards safeguarding the accuracy of LUNC supply data, thereby reinforcing the foundation upon which the Terra Luna Classic project stands.

In conclusion, the developer’s caution serves as a reminder of the critical nature of maintaining accurate and secure supply data. The proposal to transfer endpoint management to Allnodes is not just a technical adjustment but a strategic move to protect the community’s interests. The community is encouraged to participate in the voting process and consider the broader implications of this proposal for the future of Terra Luna Classic.

Debate Over Hosting API for Terra Luna Classic Circulating Supply

On May 17, Raider, an ex-Terra Rebels developer and co-founder of Hexxagon, took to X to clarify the ongoing situation regarding the API he created and hosted to track the circulating supply of Terra Luna Classic. Raider explained that Binance had approached Terra Rebels, requesting an API to provide detailed information on the total supply and circulating supply of Terra Luna Classic.

At that time, they were using the official LCD and FCD endpoints for supply calculation, which were hosted by Terraform Labs (TFL). However, CoinMarketCap did not accept these official endpoints. In response, Binance requested the creation of a new API that aligned with CoinMarketCap’s definition of circulating supply. Raider revealed that this API will remain in use since CoinMarketCap relies on it for their data.

Moreover, Raider expressed that he has no plans to oppose the proposal to transfer the hosting of official endpoints to Allnodes. He emphasized that if the community wants to implement a new API for total and circulating supply, they will need to convince both Binance and CoinMarketCap to adopt this new system.

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