An approved proposition by Terra Luna Classic increases the minimum commission to 2.5%. This change benefits smaller validators, allowing them to upgrade their infrastructure. Furthermore, this modification aims to discourage potential spam attacks on the network.
The prices of tokens within the Terra Classic ecosystem have remained above their support levels, even as trading volumes decreased, and LUNC specifically has risen by 12% over the past week.
Terra Luna Classic Community Supports Small Validators
Proposal 12097, titled “Minimum Commission: 2.5%,” is currently being voted on and is gaining approval. This proposal requires a simple majority of votes to pass, and the necessary quorum has been met. The objective behind this proposition is to raise the minimum commission for validators from zero percent to 2.5 percent. By doing so, the hope is that this increment will encourage more infrastructure validators to operate.
The proposal has received over 35 “Yes” votes, along with 32% “No”, 0.5% “No with veto” and 32.50% “Abstain” votes. While most of the validators voted in favor of the proposal, top validator Allnodes said “Top 15 validators had 84.62% VP before the implementation of the dynamic commission. Now they have 69.48%. Numbers would be significantly less with a 2.5% minimum commission.” 7 validators such as Allnodes and JesusisLord voted “No” and 33 validators have voted in favor.
“The absence of commission fees presents a challenge in remaining competitive with other validators. A previous proposal reducing the commission to 5% was rejected due to its potential negative impact on DynComm. As a result, a new proposition suggesting a commission rate of 2.5% is being put forward as a more balanced option.”
LUNC and USTC Prices
The price of LUNC dropped by 2% over the past day following a strong 15% rise within the previous week. At present, it is being exchanged for $0.000111. The lowest and highest prices recorded in the last 24 hours were $0.000110 and $0.000114, respectively. Additionally, there was a significant decrease of 39% in trading volume during this period, suggesting waning enthusiasm from traders.
Simultaneously, USTC’s price decreased by more than 1% and was priced at $0.01985. Although the price had surged 20% during the previous week, insufficient trading volume caused a loss of momentum for USTC. The lowest and highest prices in the last 24 hours were recorded as $0.01963 and $0.02039, respectively.
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2024-04-24 17:33