LUNC and USTC are confronted with a market decline of double digits following a monthly run of 400%.
When it comes to the validator limit on Terra Classic's chain, the contentious proposal addresses the issue.
As LUNC members cast their votes, rumors of a merger between LUNC and LUNA begin to circulate on X.
A proposal known as Proposal #11888 was recently approved by the Terra Classic community, despite the fact that major chain members have expressed a variety of opinions to the project. In order to accomplish the goal of reducing the number of validators on the Terra Classic chain, the proposal proposes that the choice should be based on becoming a validator without "any serious efforts."
Based on the information provided in this proposal, the most recent Terra validator that is currently operational has a delegated amount of LUNC tokens that is less than two million. The aforementioned validator, which now holds the 113th position, has caused senior members of the community to raise their eyebrows. These individuals claim that the existing minimal standards for a trader to become a validator on-chain should be increased so that it only includes validators who are currently active.
The proposal was successful in meeting its threshold, with 31.69% of respondents saying "Yes," which suggests that a significant portion of the community is concerned about the planned validator cut.
Will Traders Benefit from the Merger Discussions Between LUNC and LUNA?
Other news that is linked to this topic includes the establishment of a conversation between the two communities, as well as the suggestion by famous developers such as Will Chen to construct a Terra Classic chain layer on top of the recently developed Terra 2.0, which took over the LUNA ticker following the system crash that occurred in Terra in May of 2022.
In point of fact, the seasoned Terra developer identifies that Terra Classic has a sizable and active community. This community has a tendency to democratically vote on the conclusion that is most favorable to both parties through governance ideas, which frequently sparks bull rallies for Liberal United Nations Convention.
There are other famous individuals, such as Danny Demi DeFi, who have organized a poll for the members of the Terra Classic community to vote on whether or not a merger should take place. 54.6% of voters on X are in agreement that combining LUNC and LUNA would be a fantastic idea, while 46.4% of voters would like to keep the two Cosmos blockchains separate. This information was gathered at the time of publishing.
At the time of this publication, the price of LUNC is $0.00021712, representing a decline of 12% over the course of the last twenty-four hours. Despite this, LUNC has nevertheless managed to achieve a monthly gain of 221%, making it the cryptocurrency with the highest gain of the month among the top 50 altcoins based on worldwide market capitalization.
The USTC stock had a 400% increase in value within the same time period, and on November 27, 2023, it came dangerously close to seven cents. After the allegations of a cash influx by MintCash UST 2.0 were disproved by TerraForm Labs, the parent business of USTC, USTC is currently trading below five cents. This is despite the fact that USTC has had the largest run since the de-pegging occurred.
