LUNC Picks Up 13% Despite Trashed Key Terra Classic Proposal

Last weekend, Terra Luna Classic ($LUNC ) rejected a key governance proposal to prevent the chain’s validators from launching multiple validators on the network. Proposal #12101 seeks to impose a single-validator rule, which has been called “un-actionable” and “pointless” by certain validators like SolidVote.

While most members agree the proposal to limit validator nodes has good intentions, the strategy would be hard to realize because Terra chain validators can simply ignore the implemented rules. Breaking down the voting results, almost 38% of #TerraClassic community members voted ‘Yes’, while 37% voted ‘No’, and another 21% vetoed the proposal.

Despite the #TerraLunaClassic community being divided into two camps over #LUNC✅ chain validator policy, the embattled Layer-1 altcoin inked 8.6% gains to trade at $0.0001162 as of press time. While the validator limit proposal tackles centralization issues due to unlimited validator nodes, a resubmission of the proposal is likely soon.

#ETFvsBTC #BTC