The Terra Luna Classic community witnesses an initiative aimed at reviving the ecosystem through LUNC burn.

Simultaneously, one of the top validators has proposed adjustments to the dynamic commission mechanism, potentially impacting the trajectory of LUNC’s value, currently positioned at $0.00017 amidst broader market pressure.

Terra Luna Classic Validator Proposal for Dynamic Commission Modification

Lunanauts, a prominent validator within the Terra Luna Classic ecosystem, has presented a proposal on the Commonwealth forum seeking enhancements to the recently implemented dynamic minimum commission (dyncomm) system. The proposal advocates for a structure that involves burning LUNC tokens from the excess commission earned by validators under the dyncomm mechanism.

The suggested changes primarily focus on ensuring fairness among validators of varying sizes and promoting a balanced distribution of additional commission sets. It aims to allocate the surplus dyncomm in a manner that allocates 50% to burning tokens, 25% to the oracle pool, and another 25% to the community pool.

Additionally, the proposal emphasizes the importance of governance input in determining allocation parameters and conducting periodic evaluations to optimize the distribution mechanism for top validators. The validator emphasizes the need to prevent larger validators from disproportionately benefiting, thereby emphasizing ‘validator size neutrality’ within the proposed adjustments.

Market Trends and Price Analysis

LUNC prices experienced an 8% decline over the last 24 hours. It’s currently trading at $0.00017, with a recorded low and high of $0.000175 and $0.000214, respectively. However, there’s been a 16% increase in trading volume, indicating active market participation.

In parallel, USTC, trading at $0.0407, also witnessed a 7% decrease, with a 24-hour low and high at $0.0412 and $0.0512, respectively. Notably, USTC observed a 100% surge in trading volume over the last 24 hours.

Terra Luna LUNC Price chart

Despite these market fluctuations and pressure on prices, the Terra Luna Classic community remains optimistic about an impending recovery. They anticipate positive outcomes from both the proposed commission modifications and the proactive token burn initiative.

Read More:

Aptos To Unveil Major APT Token Unlock

South Korean Regulator Exempts NFTs from Crypto Regulations

Avatar photo

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.