Terra Luna Classic (LUNC) Experiences 15% Price Surge Amid USTC Repeg Proposal
The Terra Luna Classic (LUNC) market has been electrified by a new proposal from validator Vegas Morph aiming to repeg USTC to its original value of $1. This ambitious plan has catalyzed a notable 15% increase in LUNC's price over the past week, pushing it up to $0.00008733.
In-Depth Look at the USTC Repeg Proposal:
Oracle Integration: The proposal includes the integration of an oracle module to provide real-time price feeds for USTC. This aims to enhance transparency and accuracy in price tracking.
Fee Allocation Strategy: The plan outlines a strategic allocation of fees: 20% dedicated to burning tokens, 20% allocated to an Oracle Pool, and 60% reserved for a peg-maintaining pool. This approach is designed to stabilize USTC’s value and manage supply dynamics effectively.
Supply Caps and Liquidity Pools: It proposes implementing a hard cap on the supplies of both LUNC and USTC to prevent inflation. Additionally, the plan suggests creating multiple liquidity pools with conditional activation to support the repeg process and enhance market liquidity.
Since the announcement, LUNC has shown resilience, climbing 4% from its 24-hour low and encountering resistance at $0.00009. Meanwhile, USTC has also experienced a robust 15% price increase, trading at $0.01781. This surge reflects growing confidence in the proposed plan and optimism within the Terra Luna Classic community.
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