Terra Luna Classic Price Slips Amid Chain Rule Violations by Validators
Recent violations of chain rules by Terra Luna Classic validators have led to community unrest and price drops for LUNC and USTC.
Validator Violations: The community alleges that JESUSisLORD 2 (JIL2) validator is violating the dynamic commission (DynComm) rule by creating a secondary validator on the same chain, setting a harmful precedent. A proposal suggests issuing a formal warning rather than immediate punitive action.
Community Response: Validators like Happy Catty Crypto highlight widespread abuse of the chain, emphasizing the need to enforce ethical standards to maintain network integrity.
Price Impact: LUNC and USTC prices fell 14% in the past week amid broader market uncertainty. LUNC dropped below the $0.000080 support level, currently trading at $0.00007907, with a 32% drop in trading volume in the last 24 hours. USTC price saw a slight rebound but still reflects market instability.
This ongoing issue underscores the need for stricter adherence to network rules to maintain market confidence.
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