{"id":214870,"date":"2023-12-18T18:09:28","date_gmt":"2023-12-18T12:39:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/terra-luna-classic-lunc-community-rejects-key-burn-proposal-heres-why-crypto-news\/"},"modified":"2023-12-18T18:09:30","modified_gmt":"2023-12-18T12:39:30","slug":"terra-luna-classic-lunc-community-rejects-key-burn-proposal-heres-why-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/terra-luna-classic-lunc-community-rejects-key-burn-proposal-heres-why-crypto-news\/","title":{"rendered":"Terra Luna Classic (LUNC) Community Rejects Key Burn Proposal, Here&#8217;s Why &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Terra Luna Classic community rejected a proposal to burn 800 million TerraClassicUSD (USTC) as they look for better ways to burn these. The community believes there are easy ways to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet without an update and any legal consequences.<\/p>\n<p>The Terra Luna Classic community was recently notified that Risk Harbor lost the keys and has agreed to blacklist the wallet.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2>Terra Luna Classic Seeks Alternative Ways<\/h2>\n<p>Proposal 11913 \u201cRH MultiSig Wallet \u2013 Burn 800m via Update to Terrad Client\u201d has been rejected by the Terra Luna Classic community. The proposal aimed to burn the 800 million USTC still in the Risk Harbor multisig wallet.<\/p>\n<p>The proposal received only 15% \u201cYes\u201d votes and 47% \u201cAbstain\u201d votes, indicating lack of support from the community. Moreover, 13 validators including StakeBin, LUNC Development Fund, LuncGoblins, and PFC voted in favor, while 17 validators voted against the proposal. It also received 3 \u201cNo with veto\u201d and 11 \u201cAbstain\u201d votes and two validators voted against the proposal.<\/p>\n<p>Meanwhile, Terra Luna Classic validator Lunanauts suggested a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/lunc-news-legally-absolved-route-to-burn-800-million-ustc-for-terra-classic-revival\/\">legally absolved route<\/a> to burn 800 million USTC from the Terra Luna Classic treasury, held in the Risk Harbor Multisig Wallet through a contract. It eliminates the need for validators to install any code, minimizing legal implications.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Other proposals to burn 800 million USTC are also under discussion in the Commonwealth forum of the Terra Luna Classic community.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><strong>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" title=\"Athur Hayes Predicts Bonk Flipping Shiba Inu; Shibarium Burns Another 8 Bln SHIB\" href=\"https:\/\/coingape.com\/arthur-hayes-bonk-shiba-inu-shibarium-burns-another-8-billion-shib\/\">Athur Hayes Predicts Bonk Flipping Shiba Inu; Shibarium Burns Another 8 Bln SHIB<\/a><\/strong><\/p>\n<h2>LUNC and USTC Prices Tumble<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/terra-luna-classic\/\">LUNC price<\/a> fell 13% in the past 24 hours, with the price currently trading at $0.000144. The 24-hour low and high are $0.000142 and $0.000168, respectively. However, trading volume has increased 20% in the last 24 hours.<\/p>\n<p>Meanwhile,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/terraclassicusd\">USTC price<\/a> trades at $0.032, down 13% in the last 24 hours. The 24-hour low and high are $0.0314 and $0.0374, respectively. Trading volume has increased by 14% in the last 24 hours, indicating a dip in interest among traders.<\/p>\n<p><strong>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-weekly-outflows-hit-33-mln-amid-crypto-market-selloff\/\">Bitcoin\u2019s Weekly Outflows Hit $33 Mln Amid Crypto Market Selloff<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/terra-luna-classic-lunc-community-rejects-key-burn-proposal-heres-why\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/terra-luna-classic-lunc-community-rejects-key-burn-proposal-heres-why\/\"><br \/>\n  <noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><\/noscript><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20834%20833'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA169964\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. 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He is currently covering all the latest updates and developments in the crypto industry.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD169964\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. 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height=\"853\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\"http:\/\/www.w3.org\/2000\/svg\"%20viewBox='0%200%20640%20853'%3E%3C\/svg%3E\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"timthumb (1)\" decoding=\"async\" data-lazy-srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/cropped-timthumb-1.jpg 640w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/cropped-timthumb-1-225x300.jpg 225w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/cropped-timthumb-1-150x200.jpg 150w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/cropped-timthumb-1.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/cropped-timthumb-1.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"timthumb (1)\" decoding=\"async\" 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charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Terra Luna Classic community rejected a proposal to burn 800 million TerraClassicUSD (USTC) as they look for better ways to burn these. The community believes there are easy ways to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet without an update and any legal consequences. The Terra Luna Classic community was [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":188309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-214870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=214870"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214870\/revisions"}],"predecessor-version":[{"id":214871,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/214870\/revisions\/214871"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/188309"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=214870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=214870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=214870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}