đ LUNC News: Terra Classic And LUNAâs Initial Merger Effort Faces Major Roadblock
LUNC News: The Terra Luna Classic community rejected a highly debated proposal to increase the validators set to 130 on the blockchain. The move comes after Terraform Labs and Do Kwon agreed to settle with the U.S. SEC for $4.5 billion. Some saw the proposal as an initial merge effort with Terra (LUNA) community by bringing Luna v2 validators to Terra Classic after the TFL and SEC settlement, bolstering the networkâs decentralization.
Terra Luna Classic Rejects Proposal
The Terra Luna Classic community is currently reluctant to increase the validator limit to 130 from 100, as they look to welcome back validators from Terra Luna v2 after Terraform Labs and the U.S. SEC settlement. Proposal 12116 âIncrease Validator Active Set to 130â failed to reach pass threshold in the governance voting.
The proposal received a mere 30.59% âYesâ votes. Notably, 46.17% âNoâ and 22.59% âAbstainâ votes took down the LUNC proposal after denial by top delegates and validators. Among 46 validators who voted, only 10 such as Allnodes, Luna Station 88, LuncGoblins, Austism Staking, and others voted against the proposal.
Allnodes stated the chain is not currently ready for it, stating âThe amount of LUNC required to get into the active set is not burdensome.â
Proposer suggested that expanding the validator set to 13o will strengthen Terra Classic networkâs decentralization and benefit the LUNC community.