The Terra Luna Classic community has rejected a suggestion for forming a central team to oversee all developments on the Terra Luna Classic blockchain. Although the proposal holds potential, many community members and validators believe it is insufficiently detailed and contradicts the pay-per-job (PPJ) principle.
Terra Luna Classic Community Rejects Core Team Proposal
Proposal 12093, titled “Create a Terra Classic Team,” has not gained sufficient community approval and has fallen short of the required number of votes. The objective was to form a team composed of influential individuals such as developers and contributors. This initiative may have stemmed from the dissolution of the Joint L1 Task Force (JL1TF) in March.
The proposal has received only 38% votes in favor as 55% voted “No”, along with 1% “No with veto” and 5% “Abstain” votes. The voter turnout is low, but delegators are voting in favor of the proposal as opposed to validators. Terra Classic validators have cast “No” votes. Some community members have opposed claiming centralization risks, conflicts with pay-per-job, and no mention of developer KYC requirements.
Fragwuerdig’s well-known developer, LuncGoblins, stated that any proposal not including a clear declaration about overruling the PPJ (PPJ being a known term) would not adhere to PPJ and could potentially render it invalid.
According to an earlier report by CoinGape, the specifics such as positions, compensation, tasks, and number of developers for this LUNC proposal are yet to be determined based on the governance’s approval in a future proposal.
In the past 24 hours, the price of LUNC has risen by 8%, reaching a current value of $0.000106. The highest and lowest prices during this period were $0.00009486 and $0.0001091, respectively. Yet, the trading volume has decreased by 54% compared to the previous 24 hours, suggesting that there is less enthusiasm among traders for this cryptocurrency.
The price of LUNC rebounded, joining a broader market recovery fueled by derivatives trading. The open interest for LUNC futures on Binance increased by more than 7% in the past day. Notably, Huobi accounted for a significant portion of this buying activity, with a 25% surge in LUNC futures open interest.
At the same time, USTC’s price climbed up by 7% to reach $0.0183. Its lowest point within the last 24 hours was $0.0164, while its highest was $0.0186.
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2024-04-15 16:33