LUNC News: Terra Classic Highly Debated Proposal After TFL And SEC Settlement
LUNC News: The Terra Luna Classic community started voting again on a highly debated proposal to increase the validators set on the blockchain. The move comes after Terraform Labs and #DoKwon agreed to settle with the U.S. SEC for $4.5 billion. The proposal aims to bring Luna v2 validators to Terra Classic after the TFL and SEC settlement, bolstering the network’s decentralization and benefiting the LUNC community.
Terra Luna Classic Validator Set Boost Proposal
Proposal 12116 “Increase Validator Active Set to 130” is currently undergoing governance voting on the Station wallet. If passed, the #TerraLunaClassic community will increase the validator limit to 130 from the current 100, as they look to welcome back validators from Terra Luna v2 after Terraform Labs and the U.S. SEC settlement.
Expanding the validator set to 13o will strengthen #TerraClassic network’s decentralization and benefit the #LUNCcommunity .
At press time, the proposal has received 38.04% “Yes votes” after top validator Allnodes voted “No” citing “The amount of $LUNC required to get into the active set is not burdensome.” Nevertheless, the proposal received 93.43% votes from delegates, indicating major support from the community.
Among validators, 16 voted in favor of the proposal while five voted “No”, one “No with veto” and four “Abstain” votes. Vegas Node, Jesusislord, Nitawa, SolidVote, Hexxagon and other validators voted in favor of the proposal.
