Terra Luna Classic Considers Deposit Boost to Combat Spam Proposals

Key Points:

• Terra Luna Classic votes on raising minimum deposit from 1M to 5M LUNC to combat “spam” proposals amid price decline worries.
• Proposal 11780 gains support from 34% “Yes” votes, with validators, including Hexxagon, in favor.
• Terra Classic Task Force prepares for v2.2.1 core upgrade, while USTC Quant team strives to reestablish USTC peg.

The Terra Luna Classic community is currently in the midst of critical voting on multiple proposals.

This concern has arisen in the wake of recent price declines, prompting a proactive response from the community.

One of the key proposals under consideration is Proposal 11780, aptly titled “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC.” The proposal’s primary aim is to significantly elevate the minimum deposit requirement from 1 million LUNC to 5 million LUNC. By doing so, the community intends to establish a more formidable barrier that “spam” and irrelevant proposals must overcome to progress beyond the deposit phase. This strategic move seeks to curb the influx of undesirable proposals that have been inundating the Terra Luna Classic community in recent times.

The consensus among validators is that the existing threshold of 1 million LUNC is insufficient in deterring these unwanted proposals. Hexxagon, the developer team behind the community-owned Station wallet, has observed a notable increase in spam proposals, highlighting the urgency of addressing this issue.

As of the latest data available, Proposal 11780 has garnered support from 34% of “Yes” votes, while 64% have cast “No” votes, with an additional 2% representing “No with veto” votes. Notably, nine validators, including Hexxagon, Lunanauts, and Coinpayu, have expressed their support for the proposal.

In parallel to these developments, the L1 Terra Classic Task Force is actively preparing for the upcoming v2.2.1 core upgrade, scheduled for September 12 at 9.57 UTC, as indicated by the countdown. This upgrade is a significant milestone for the community, promising enhanced features and functionality.

Additionally, the USTC Quant team has initiated contact with centralized exchanges to provide them with the Buy Back Report, an effort aimed at reestablishing the peg of USTC.

These developments underscore the Terra Luna Classic community’s commitment to addressing challenges promptly and strategically as it navigates the evolving landscape of decentralized governance and digital assets.

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