The Terra Luna Classic community has given a resounding nod to Proposal 11874, ushering in the eagerly awaited v2.3.0 upgrade. This decision, determined through a robust governance voting process, signifies a crucial step forward for the platform.
The focus of the upgrade is the incorporation of the dynamic validator commission module. It is a significant enhancement poised to redefine the protocol’s dynamics.
Dynamic Validator Commission Module Unanimously Embraced
With an overwhelming 93% “Yes” votes and 7% “Abstain” votes, the Terra Luna Classic community has expressed unanimous support for the introduction of the dyncomm module. This module, set to be integrated into the protocol, plays a pivotal role in determining minimum validator commissions based on voting power.
The scheduled upgrade is set to take place at block height 15493370, with the anticipated launch on November 20 at 11.19 AM UTC, as per StakeBin’s data. This marks a crucial milestone for the Terra Luna Classic ecosystem, as the dynamic validator commission module takes center stage.
Strong Validator Backing for the Upgrade
Further, out of the 60 validators actively participating in the voting process, an impressive 58 validators, including key players such as Allnodes, Interstellar Lounge, HappyCattyCrypto, TerraCVita, and Interstake One, have thrown their weight behind Proposal 11874.
Market Response and LUNC Price Movement
The cryptocurrency market witnessed an immediate reaction from traders following the proposal’s approval. The LUNC price experienced a notable rebound, surging by 1% after a temporary dip to a 24-hour low of $0.000074. At present, the price stands at $0.0000758.
However, the trading volume has seen a 20% decrease in the last 24 hours. This signals a potential wane in trader interest.
Additionally, former L1TF developer Fragwuerdig is set to spearhead the development of the dynamic validator commissions. With official approval from the L1TF team, the dyncomm module will undergo rigorous testing before its rollout to the columbus-5 mainnet.
Positive Trends – LUNC and USTC Price Movements
Despite recent fluctuations, LUNC’s price has rebounded impressively, marking a nearly 40% increase in the past month. Concurrently, USTC’s price trades at $0.013, reflecting a noteworthy 20% uptrend over the same period. Lastly, these positive trends underscore the resilience and growth potential within the Terra Luna Classic ecosystem.