LUNC Advances ICA Controller Proposal

Despite recent market fluctuations, LUNC and USTC prices fluctuate with varying trading volume.

The Terra Luna Classic (LUNC) community, including validators, voted unanimously in favor of the proposal to enable the ICA Controller parameter. With 99.97% of the vote cast in its favor, the proposal exceeded the pass threshold before the deadline.

During the recent correction in the cryptocurrency market, Terra Classic ecosystem tokens LUNC and USTC suffered losses, and crypto exchange Crypto.com confirmed LUNC’s delisting.

Legislation 12005, “Consistently Set ICA Controller Parameter,” has received substantial community support and has surpassed the pass threshold. The deadline for proposals is January 28.

The proposal has garnered a resounding 99.97% affirmative vote, signifying the unanimity of community opinion. In addition, it was met with abstentions, vetoes, and negative ballots, which caught many influential community members off guard.

Each of the forty-seven participating validators cast a vote supporting the proposal. Orion, Interstellar Lounge, Stakely, and Luna Station 88 are some examples. A validator with sixteen percent voting authority, Allnodes, has not yet cast a vote on the proposal.

Previously, it was stated that the proposal’s objective was to configure the ICA Controller module of Terra Classic to the “enable” state.

At present, a network error is causing inconsistency in the internal storage of the module, which hinders developers from exporting the Terra Classic state into a genesis.json file. Developers must implement enhancements when working on testnets.

Comparison of LUNC and USTC Price Performance

The prices of Terra Luna Classic and USTC increased substantially following the launch of the L1TF security enhancement package’s voting phase. Nonetheless, values have declined once more before expiration.

The price of LUNC has decreased by 3% over the past twenty-four hours and is currently $0.0000924. The 24-hour high and low are, respectively, $0.0000915 and $0.0000964.

In the interim, trading volume has decreased by nearly 40 percent over the past twenty-four hours, suggesting that traders are uninterested.

Additionally, the price of USTC increased by more than 3%. The price currently stands at $0.02374, exhibiting a 24-hour maximum of $0.0222 and a minimum of $0.02403, respectively.