Nova Validator Funds Quant USTC Reppeg Team

On Wednesday, Terra Luna Classic validator Nova announced a plan to directly fund the Quant USTC repeg team after a proposal failed due to station issues.

The Terra Luna Classic community has rejected the proposal to finance the USTC Quant team for a second month through the community pool.

Nova Validator stated in a post on August 23 that it will directly fund the Quant USTC repeg team with its commissions in response to validators’ breach of contract.

Proposal 11716 to fund the Quant team for the month was passing until a handful of validators voted “no” at the eleventh hour.

Due to LUNC validators’ refusal to pay the USTC repeg team for the completed task, Nova validators will fund the group.

It requests that the community redelegate with them to support the USTC reclassification and LUNC revival.

“The $LUNC Community Pool is not the only funding source for the USTC Team.

Bilbo Baggins, a member of the Quant USTC repeg team, stated, “If you want to repair the chain, it’s time to redelegate away from those who have voted against the chain’s best interests and broken their contract after work has been completed.”

Nova is the leading validator for delegation gains of 675,185,152 LUNC, per StakeBin data. The total delegation has reached 5.39 billion LUNC, and the voting authority has risen to 0.528 percent.

The current LUNC price is $0.0000064, a 2% decrease over the last 24 hours. The low and high for the past 24 hours are $0.0000620 and $0.0000654, respectively.

Nonetheless, an analysis predicts a 20% price recovery for LUNC if it breaches the descending channel.

In the past 24 hours, the price of USTC has also decreased by 3%, with the price currently trading at $0.012. 24-hour minimum and maximum values are $0.0123 and $0.0129, respectively.