The Terra Luna Classic (LUNC) community has passed Proposal 11780, raising the minimum deposit for new proposals from 1 million to 5 million LUNC tokens. This decision aims to reduce the number of "spam" proposals that have clogged the network recently. The higher deposit amount will make it more expensive for bad actors to submit meaningless proposals.
Following LUNC's price collapse earlier this year, the Terra ecosystem was flooded with redundant, ill-conceived, or scam proposals. The Terra team and validators struggled to evaluate this influx, hindering the governance process and focus on urgent matters.
Proposal 11780's passage, with over 94% of votes in favor, demonstrates the community's alignment on the need to clean up the governance system. While some argued that the change would limit accessibility, the overwhelming vote indicates that the barrage of bad proposals had become unbearable.
With the proposal backlog cleared, Terra can now focus on reigniting development and rebuilding trust in the ecosystem. The approval of Proposal 11780 could help bolster confidence in the project's governance over the long term, potentially aiding LUNA's recovery.