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LUNC Price Jumps Following Governance Upgrade To Clean Up Ecosystem

Published 02/24/2024, 03:56 AM
Updated 02/24/2024, 04:15 AM
LUNC Price Jumps Following Governance Upgrade To Clean Up Ecosystem
LUNA
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LUNAt/USD
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  • Terra Luna Classic has upgraded its minimum deposit requirement for new proposals.
  • The Terra Luna Classic community’s minimum initial deposit is now set at 1M LUNC.
  • LUNC rallied 10% following the new minimum initial deposit approval.

Terra Luna Classic has upgraded the minimum deposit requirement for new proposals in its ecosystem. At the end of a voting process, the Terra Luna community voted in favor of Proposal 12071, titled “Set the Minimum Initial Deposit to 1M LUNC.”

Following the proposal’s description, it aims to clean up the project’s governance system, targeting spam reduction and enhancing proposal quality. A Terra Luna community member commented that “Deposit” is a place in the governance system full of spam. Hence, he no longer goes there nor pays att…

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