Terra Luna Classic Proposal Is Inconsistent With Binance, CoinMarketCap: Top Developer

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As a researcher with experience in the cryptocurrency space, I’m closely following the ongoing dispute between Terra Luna Classic (LUNC) community members regarding the hosting of circulating supply APIs. The proposal to transfer endpoint hosting from individual developers like Raider to Allnodes has raised concerns about potential unauthorized changes to the LUNA supply data without community approval.

A developer of Terra Luna Classic raised concerns about a proposal to shift endpoints for tracking LUNC circulating supply to Allnodes, a top validator platform. This plan, currently under community vote, seeks to establish an authorized entity or platform as the endpoint host, thereby preventing unapproved modifications to Terra Luna Classic’s supply figure by individuals.

Terra Luna Classic Circulating Supply API Hosting Dispute

Raider, former developer at Ex-Terra Rebels and co-founder of Hexxagon, addressed the ongoing issue regarding the API he created and managed for tracking Terra Luna Classic’s circulating supply on X on May 17. He disclosed that Binance had requested access to this API from Terra Rebels in order to obtain information about the total supply and current circulating supply of Terra Luna Classic.

At that point, TFL was responsible for hosting the LCD (Lightning Chargepoint Data) and FCD (Fuel Consumption Data) endpoints, which were used for calculating supplies. However, CoinMarketCap declined to use these official endpoints, while Binance requested creating an API aligned with CoinMarketCap’s definition of circulating supply.

Raider explained that he adjusted the API configuration starting from October 2022 to align the circulating supply figure with the CoinMarketCap (CMC) definition, using only publicly accessible data at hand at that moment.

I’ve made it clear that the existing API for CoinMarketCap will persist, as we currently utilize it. Regarding the proposal allowing Allnodes to host official endpoints, I have no plans to contest it. However, if the community wishes to adopt an alternative API for total supply and circulating supply figures, they would need to convince both Binance and CoinMarketCap to make the change.

Terra Classic Community Makes Crucial Move With Allnodes

LUNC and USTC Price Performance

I’ve analyzed the price trend of LUNC over the last 24 hours, and it has witnessed a slight increase of 0.5%. At present, the coin is priced at $0.0001077. The highest and lowest points in this period were $0.0001058 and $0.0001091 respectively. However, it’s important to note that there has been a noticeable decrease of approximately 35% in the trading volume within the same time frame.

In terms of future contracts, there is ongoing selling activity for LUNC and 1000LUNC. The total value of LUNC futures has decreased by approximately 1% in the last 24 hours, with a nearly identical drop observed for LUNC futures on Binance.

As a crypto investor, I’ve observed that USTC experienced a 1% price decrease in the past 24 hours. At present, the coin is priced at around $0.0219. The lowest and highest points in this period were $0.02096 and $0.02221 respectively.

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2024-05-17 15:45