Terra Luna Classic Minimum Deposit Proposal Approved

Terra Luna Classic community passed Proposal 12071 to increase the minimum initial investment to 1 million LUNC.

The community successfully passed the proposal to increase the minimum initial investment for Terra Luna Classic. This proposal aimed to decrease the significant rise in spam proposals received recently.

It will require a minimum initial deposit of one million LUNC, which will serve as an entry barrier into the deposit section. This will prohibit these proposals from appearing in the deposit phase, where they would otherwise be considered.

The Terra Luna Classic community strongly supports Proposal 12071, titled “Set the Minimum Initial Deposit to 1 Million LUNC.” This proposal has successfully surpassed the pass threshold in the station wallet.

The deposit part of the Station wallet will see a significant decrease in the number of proposals considered spam or poorly written due to this change.” Abstain” and “No with veto” each garnered 1% of the votes, while “No” received 9%.

The Terra Luna Classic proposal received almost 89% of the votes in favor. The community regards the plan as extremely important in light of the recent favorable improvements.

Of the 49 validators who participated in the discussion, 43 voted in favor of the proposal including Allnodes, Orion, Interstellar Lounge, Interstake One, and Luna Station 88.

In the governance voting, just a few Terra Luna Classic validators voted “no” or “abstained.” It was claimed that changing the parameters would increase the minimum initial deposit ratio for governance proposal deposits to 20%.

It is important to note that the deposit phase’s starting amount will be one million LUNC, and the proposal that is now in deposit will still need to meet the deposit amount of five million LUNC to move on to the governance vote stage.

Over the past month, the prices of LUNC and USTC have increased by more than 30%. As a result of an increase in development activity, the prices of the Terra Classic ecosystem have gained pace.

The price of LUNC has increased by 2% over the last twenty-four hours, and it is currently trading at $0.000121. The low for the 24 hours is $0.000116, while the high for the same period is $0.000125. In addition, the trading volume has seen a slight uptick during the past 24 hours.

In the meantime, the price of USTC has increased by more than 2% over the past 24 hours, and it is currently trading at $0.031. The high and low for the past 24 hours are $0.0285 and $0.0320, respectively.

In the past twenty-four hours, there has been a 66% increase in trading.