Terra Luna Classic Community Approves Major Proposal

Technology

Terra Luna Classic Community Votes On Crucial Proposal Ahead Of Upgrades – Crypto News

Published

2 years ago

January 23, 2024

Dripp

Terra Luna Classic community votes on another key proposal to bring changes to the chain impacting internal storage before developers start making key upgrades to the chain. It restricts developers from exporting the state of Terra Classic into a genesis.json file, which is crucial for testnets.

The proposal is receiving unanimous support from validators as all those who participated have voted “Yes” to proposal considering priority to enable the ICA Controller parameter.

Terra Luna Classic Community Set To Enable ICA Controller

Proposal 12005 “Consistently set ICA Controller Parameter” is under voting on the Station wallet, with the proposal already receiving major support from the community.

The proposal aims to set the parameters of the ICA Controller module of Terra Classic to “enable”. The internal storage of the module is currently inconsistent due to a network glitch, preventing developers from exporting the state of Terra Classic into a genesis.json file.

Popular developer Fragwuerdig said “This is a problem when developers want to extract the state of the blockchain into a specialized file (called “genesis file”) to spin up testnets based on the state of the mainnet.”

The proposal has received 99.96% “Yes” votes, with some “No,” “No with veto” and “Abstain” votes. Among the 31 validators who participated, all validators including Orion, Interstellar Lounge, Stakely, Luna Station 88, and others voted in favor of the proposal.

LUNC Price Fell 10%

Terra Classic ecosystem tokens started falling after crypto exchange Crypto.com confirmed LUNC delisting to CoinGape. The market-wide selloff has also impacted LUNC and USTC prices.

LUNC price fell over 10% in the last 24 hours, extending loses from TFL bankruptcy event. The price currently trades at $0.0000902. LUNC has dropped 27% in a week. The 24-hour high and low are $0.0000895 and $0.000102, respectively.

USTC price trades at $0.0227, down over 8% in the last 24 hours. The 24-hour high and low are $0.0227 and $0.0254, respectively.

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