LUNC: Validators Violating Chain Rules, Terra Luna Classic Price Slips
Proposal to Address Violation of Terra Luna Classic Rule
A Terra Luna Classic community member has submitted a proposal for discussion in a commonwealth forum alleging that JESUSisLORD 2 (JIL2) validator is violating the network rule. He claimed that the validator has created a secondary validator under the same entity to circumvent the rule, violating DynComm rule.
LUNC members agree this behavior sets a harmful precedent, while some argue that the rule regarding second validator doesnât explicitly exist. Instead of immediate punitive actions, the proposal aims to give a formal warning to the validator, without imposing immediate consequences.
Terra Luna Classic community implemented the dynamic commission to promote fairness and prevent centralization. This rule dynamically adjusts the commission rate based on a validatorâs voting power, allowing distribution among other validators.
Happy Catty Crypto, another LUNC validator with high voting power, noted that the chain is subjected to a significant amount of abuse. He revealed that a community member Rexyz operates three nodes, one for each division of his project. Other members also agree with cleaning the chain to maintain ethical standards.
LUNC Price Falls Below Support Amid the News
Terra Luna Classic ecosystem tokens saw a massive selloff amid the broader crypto market meltdown. LUNC and USTC prices dropped 14% as traders liquidated long positions despite the opening of Shuttle Bridge by Terraform Labs.
LUNC price failed to hold above the $0.000080 support in the last 24 hours amid market uncertainty, with the price currently trading at $0.00007907. The 24-hour low and high are $0.00007738 and $0.00008084, respectively. Moreover, trading volume has slipped by 32% in the last 24 hours
Terra Luna Classic price shows weakness as it trades under 50-DMA (red). It has also slipped below the descending trendline, indicating the price is under pressure with RSI also sliding lower.
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