Proposal 11710 passes with 85% of community voting in favor, paving the way for USTC token burning
The Terra Luna Classic community has officially passed Proposal 11710, which calls for the direct destruction of 800 million USTC tokens. The proposal, submitted by Vegas, instructs signatories of the Ozone reserve wallet to initiate the token burning process by transferring the funds directly to the Terra Luna Classic destruction address.
The proposal garnered support from nearly 85% of the participants, with 8% abstaining and 7% voting against it. Out of the 40 validators involved, 35— including Allnodes, Interstellar Lounge, HappyCattyCrypto, StakeBinfavor, and 1maxfee— voted in favor of burning the 800 million USTC tokens.
