The Terra Classic (LUNC) community continues to strengthen its autonomy by making key decisions for its ecosystem. In a recent vote, the majority approved transferring access to the CoinMarketCap dashboard to the main validator, Allnodes. This decision marks a milestone, as previously control remained in the hands of Terraform Labs.
Key Changes in Governance
The access transfer will allow Allnodes to manage crucial aspects of Terra Classic’s CoinMarketCap profile, including social media updates, website links, and relevant data. Over 76% of voters supported the proposal, reflecting a strong consensus in the community. This move seeks to ensure a more transparent administration aligned with the interests of users.
Market Impact
Following the announcement, LUNC and USTC saw a price rally, breaking through important resistances. LUNC rose by 4% and is currently trading at $0.0001016, while USTC increased by over 5% to reach $0.02269. However, trading volume decreased by 32% over the past 24 hours, showing caution among investors.
What's Next for Terra Classic?
This step towards decentralization reinforces Terra Classic’s commitment to its community, setting a precedent for future decisions. With a focus on transparency and collaboration, the platform continues to evolve amidst market challenges.
This move could be the first step in a series of governance reforms that will cement Terra Classic as a truly community-led project.
