As a researcher with experience in the crypto market, I am closely following the developments in the Terra Luna Classic (LUNC) community. The recent proposal to bring Allnodes as the official organization to manage the endpoint providing circulating supply data for LUNC is an encouraging step towards ensuring transparency and accuracy in the data.
The Terra Luna Classic community initiated a vote on a significant proposal aimed at establishing an official body responsible for maintaining the accurate circulating supply information for Terra Luna Classic. Top validator Allnodes will oversee this endpoint to safeguard against unauthorized modifications by individuals.
Terra Classic Brings Allnodes For Endpoint Management
The proposal “Change CS API endpoint to Allnodes FCD” in Station wallet’s official voting process is set to conclude on May 18th.
As a researcher, I’m putting forward a proposal with the objective of designating an authoritative organization to manage the endpoint that disseminates accurate circulating supply information for Luna Classic. I suggest Allnodes as the top-notch validator for this role. Additionally, it is essential to establish agreement on how we calculate the circulating supply figure.
As a crypto investor, I would explain it like this: To keep up with the latest developments, I will need to update Allnodes to the newest FCD version. The circulating supply of a token is then calculated as follows: First, subtract any unvested tokens from the total supply. Next, deduct community pool holdings. Lastly, remove staked and bonded tokens. So, the circulating supply is simply the total supply minus these three components.
Any third-party site can acknowledge Allnodes FCD API as the go-to reference for the official circulating supply details of Terra Luna Classic’s LUNC, USTC, and other native tokens. This measure decreases the likelihood of discrepancies in circulating or total supply numbers without prior consultation.
The proposition has gained approval from 56% of the voters, while 3% have cast their votes against it, and 41% have voted with veto power. A majority of significant validators such as Community First LUNC, Hexxagon, LUNC Development Fund, among others, have endorsed this proposition. However, key validators are yet to make their decisions.
LUNC and USTC Nears Upside Breakout
The costs of LUNC and USTC have dramatically increased in recent times following the announcement of a decrease in their circulating supplies. This development has rekindled discussions about burning and destroying these tokens within the Terra Luna Classic community. Members are now advocating for the burning of both USTC and LUNC in the Community Pool wallet to align with the total supply.
The cost of LUNC has risen by 1% during the last 24 hours, reaching a current value of $0.0001052. Over this period, the highest and lowest prices were recorded as $0.0001062 and $0.0001007 respectively. Furthermore, there has been a significant increase in trading volume by 28%, suggesting active buying from traders. According to CoinGape Markets’ evaluation, the potential price for LUNC is projected to be around $0.0005.
Over the past 24 hours, USTC’s value decreased by 2%, now sitting at $0.0227 in current market transactions. The lowest and highest prices within this timeframe were $0.02233 and $0.02389, respectively.
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2024-05-13 20:18