The Terra Classic community is currently dealing with an influx of spam and irrelevant proposals submitted for voting, which the decline in Luna Classic (LUNC) prices has exacerbated. In response to this issue, the community is considering a new proposal, titled Proposal 11780 or the “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC.”

Moreover, the proposal aims to raise the minimum deposit requirement from 1 million LUNC to 5 million LUNC, with the expectation that this adjustment will discourage scam proposals and enhance the quality of proposals brought for a vote.

Raising the Barrier Against Spam Proposals

The primary objective of Proposal 11780 is to establish a higher barrier for scam proposals, making it more challenging for them to progress beyond the deposit phase. Consequently, the current threshold of 1 million LUNC is perceived as inadequate in deterring spam proposals within Terra Classic community.

Hexxagon, the developer team responsible for the community-owned Station wallet, has been actively monitoring the influx of spam proposals. Further, their observations align with the need for an increased minimum deposit requirement to address the issue effectively.

Current Voting Status On Terra Classic Proposal

Moreover, as per the latest update, Proposal 11780 has garnered mixed sentiments within the Terra Classic community. It has received 34% of votes in favor, 64% of votes against, and 2% of votes as “No with veto.” Notably, nine validators, including influential entities such as Hexxagon, Lunanauts, and Coinpayu, support the proposal.

Lastly, the Terra Classic community is actively deliberating the potential benefits and implications of raising the minimum deposit requirement, recognizing the importance of countering spam and maintaining the integrity of the voting process.

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Tanishi is an established writer in the realm of cryptocurrency and blockchain, renowned for her expertise and insightful analysis. With a deep-rooted passion for the dynamic world of digital finance, Tanishi delivers compelling news and articles that captivate a wide-ranging audience.