đĄ $LUNC Community Divided Over Controversial USTC Proposal
The Terra Luna Classic (LUNC) community is grappling with internal conflict as a prominent validator fiercely opposes a newly proposed strategy to revitalize the struggling stablecoin, USTC.
MrDiamondhandz, a well-known validator who operates LuncLiveOrg, has voiced strong opposition to the initiative.
đž The LUNC Dash Proposal
The proposal in question, known as the LUNC Dash Proposal, aims to reshape the future of USTC (TerraUSD Classic) by repositioning it to improve its market relevance and mitigate regulatory challenges.
Key aspects of the proposal include rebranding TerraUSD (USTC) as Universal Standard Token Classic (USTC) to establish a new identity. It also suggests reclassifying USTC as a memecoin, acknowledging its current market dynamics, while retaining the original USTC ticker for brand recognition.
Additionally, the proposal suggests forming a special response team that can act quickly in emergencies without waiting for full governance approval.
đž Validator Condemns the Proposal
MrDiamondhandz, a long-standing member of the LUNC community, strongly criticized the current proposals up for vote.
He called them âthe worst Iâve ever seen,â alleging that certain groups are attempting to exert control over the blockchain and act as gatekeepers. He expressed his deep frustration, stating that these individuals have been pursuing their own agenda from the outset.
đŹ Just when I thought they couldnât get any DUMBER they have outdone themselves.Now the SAME LUNC people want to take money from the community pool and inject it into their dexes that have TERRIBLE, low volume, so they can syphon it out the back door. NO! #Crypto â Mr. Diamondhandz1 March 15, 2025
Despite the strong opposition, the proposal elicited mixed reactions within the community. It currently stands at 39.41% approval, 7.95% opposition, and 25.47% votes marked as âNo with veto.â With a voter turnout of 28.95%, it falls short of the 40% quorum required for passage.
The Terra Luna Classic (LUNC) community is grappling with internal conflict as a prominent validator fiercely opposes a newly proposed strategy to revitalize the struggling stablecoin, USTC.
MrDiamondhandz, a well-known validator who operates LuncLiveOrg, has voiced strong opposition to the initiative.
đž The LUNC Dash Proposal
The proposal in question, known as the LUNC Dash Proposal, aims to reshape the future of USTC (TerraUSD Classic) by repositioning it to improve its market relevance and mitigate regulatory challenges.
Key aspects of the proposal include rebranding TerraUSD (USTC) as Universal Standard Token Classic (USTC) to establish a new identity. It also suggests reclassifying USTC as a memecoin, acknowledging its current market dynamics, while retaining the original USTC ticker for brand recognition.
Additionally, the proposal suggests forming a special response team that can act quickly in emergencies without waiting for full governance approval.
đž Validator Condemns the Proposal
MrDiamondhandz, a long-standing member of the LUNC community, strongly criticized the current proposals up for vote.
He called them âthe worst Iâve ever seen,â alleging that certain groups are attempting to exert control over the blockchain and act as gatekeepers. He expressed his deep frustration, stating that these individuals have been pursuing their own agenda from the outset.
đŹ Just when I thought they couldnât get any DUMBER they have outdone themselves.Now the SAME LUNC people want to take money from the community pool and inject it into their dexes that have TERRIBLE, low volume, so they can syphon it out the back door. NO! #Crypto â Mr. Diamondhandz1 March 15, 2025
Despite the strong opposition, the proposal elicited mixed reactions within the community. It currently stands at 39.41% approval, 7.95% opposition, and 25.47% votes marked as âNo with veto.â With a voter turnout of 28.95%, it falls short of the 40% quorum required for passage.