As a long-term crypto investor, I’m thrilled to see the Terra Luna Classic community come together and make such an informed decision. The approval of the Genuine Labs Community Spend Proposal with a near-unanimous vote is a testament to the power of community governance in the crypto space.
The Terra Luna Classic community strongly endorsed the Genuine Labs Community Spend Proposal on June 3, 2024, securing a near-unanimous approval rating of 99.98%. There was minimal opposition to this proposal, indicating a clear consensus among community members. This landslide vote is anticipated to have a substantial impact on the future development of the Terra Luna Classic network.
High Voter Turnout Boosts Terra Luna Projects
As a researcher studying Terra Luna Classic, I’m excited to report that the proposal to allocate 256,410,256 LUNC for development projects has been met with approval from the community. This significant fund is intended to fuel innovation and ensure the ecosystem’s sustainability. The high voter turnout of 84.2 billion votes was a noteworthy achievement, representing a considerable chunk of the total voting power. The robust participation in this vote underscores the strong community interest and confidence in Genuine Labs’ strategic vision for the platform.
The almost unanimous decision reflects our collective enthusiasm for expanding the network’s capabilities. The community’s endorsement is a sign of faith in the platform’s future growth and commitment to its long-term success. This backing is essential as it provides developers with the confidence to embark on projects that can introduce new features and enhance the entire ecosystem.
Community Demands Strong Plans, Rejects Tax Proposal
In stark contrast, Proposal 12105 put forward by the TerraLunaClassic community was met with rejection. This proposal intended to boost the LUNC burn tax. However, it faced harsh criticism due to the lack of a clear implementation strategy and logical reasoning behind it. Critics labeled it as a “lackluster attempt” given that it was merely a textual proposition without any immediate effect. As a result, it managed to secure only 21.35% approval, with 32% outright opposition and 38% expressing their intention to veto, suggesting a significant resistance towards its implementation.
The community’s dismissal of this proposal underscores their preference for thoughtful plans over hasty remedies. Their sophisticated perspective on governance is manifested in their quest for strategies that present definite actions and long-term results, as opposed to short-lived interventions.
After the latest public ballot, LUNA, the native cryptocurrency of Terra Luna, experienced a 1.68% price rise, now trading at $0.6547. Yet, the 24-hour trading volume dropped by 24.35%, implying a possible extension of the present downward market trend. This alteration in market circumstances suggests that the community’s decision has had a favorable influence on LUNA’s price.
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2024-06-03 21:14