Terra Luna Classic Community Votes on LUNC Parameter Change Proposal
The LUNC community is currently voting on a key parameter change proposal that could impact the Terra project on Terra Classic. The proposal aims to increase the MaxContractSize of Cosmos Wasm to 819200 from 614400 to allow for the proper uploading of a new contract on the chain.
TerraPoker, the project behind the proposal, is seeking community support to launch on the Terra Classic chain. The project believes that the proposal will not only benefit their project but also be a welcoming invitation for other protocols as well.
As of now, the proposal has received 45% of votes in favor, with 55% abstaining. The LUNC community’s sentiment suggests that the proposal will likely pass as they seek to increase utility on the chain and boost LUNC burn.
Possible Impact on Chain Stability
While developers have confirmed that the contract size change will not have any impact, some members of the community believe that an abnormal increase in gas fees and contracts not executing on servers may occur due to memory size exceeding current network or server resources. This has led the community to contemplate whether the proposal will have any impact on the stability of the chain.
Core Developers Leave Joint L1 Task Force
The Terra Luna Classic community is facing a minor crisis as two of its core developers, Edward Kim and Tobias “Zaradar” Andersen, have left the Joint L1 Task Force developer team. This departure has put further pressure on the LUNC price, which fell 2% in the last 24 hours. Currently, the price is trading at $0.000125, with the 24-hour low and high at $0.000124 and $0.000128, respectively. Additionally, the trading volume has decreased by 25% in the last 24 hours, indicating a decline in interest among traders.
In conclusion, the LUNC community’s parameter change proposal is currently being voted on, with the majority of the community showing support. While there are concerns about the impact on chain stability, developers have confirmed that the proposal will not have any impact. However, the departure of core developers has put further pressure on the LUNC price, with a decline in trading volume indicating a decline in interest among traders.
- The LUNC community is currently voting on a key parameter change proposal that could impact the Terra project on Terra Classic.
- The proposal aims to increase the MaxContractSize of Cosmos Wasm to 819200 from 614400.
- TerraPoker, the project behind the proposal, is seeking community support to launch on the Terra Classic chain.
- As of now, the proposal has received 45% of votes in favor, with 55% abstaining.
- While developers have confirmed that the contract size change will not have any impact, some members of the community believe that an abnormal increase in gas fees and contracts not executing on servers may occur.
- The Terra Luna Classic community is facing a minor crisis as two of its core developers have left the Joint L1 Task Force developer team.
- This departure has put further pressure on the LUNC price, with a decline in trading volume indicating a decline in interest among traders.
It is important to note that despite the departure of the two core developers, the Terra Luna Classic community is still active and engaged. The LUNC community is continuously working to improve the Terra Classic chain and is seeking to attract more projects to the network.
The Terra project has been gaining popularity in the decentralized finance (DeFi) space due to its unique features such as stability and low transaction fees. The community’s efforts to increase the utility of the chain through parameter change proposals such as the one currently being voted on can further boost the project’s growth.
Overall, the Terra Luna Classic community is navigating through a challenging time with the departure of core developers and the implementation of a key parameter change proposal. However, the community’s determination and commitment to the growth of the Terra Classic chain remain strong.
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