Terra Classic Proposal: Addressing Concerns on Liability Ambiguity

This ambiguity leaves stakeholders vulnerable to various interpretations and legal risks, impacting their effective engagement and casting doubt on the project’s future.

To address these concerns, there’s momentum for adopting the Apache 2.0 license. Advocates argue that integrating this license would offer clarity and protection for contributors, mitigating risks and ensuring project sustainability.

The Apache 2.0 license is esteemed for defining liability scopes in software development projects, promoting collaboration while safeguarding contributors’ interests.

However, there’s a pressing need to refine LUNC proposal 12059’s liability terms to align with Apache 2.0 standards.

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Terra Luna Classic (LUNC) Community Selects CertiK For Secure L1 Developments

Text proposal 12058 “Add Certik as a recognized KYC provider” has surpassed the pass threshold, grabbing major support from the community. Passing before the Feb 18 deadline indicates community sentiment on the importance of the proposal.

Following approval of KYC proposal 12033 with high voter turnout, two follow-up proposals were put up for voting on the Station wallet. Text proposals 12058 and 12059 set further requirements and provide clarification on KYC providers and contributions to the chain without KYC.

As per the proposal, CertiK will be recognized KYC provider for all L1 development on Terra Classic. It will a recognized KYC provider as per the framework outlined in Proposal 12033. CertiK KYC Teams will also be accepted with KYC results on their leaderboard.

The proposal has received 75% votes in favor, with 10% No with veto votes along with some “No” and 15% “Abstain” votes. 37 validators including Allnodes, StakeBin, and TerraCVita voted in favor. Interstellar Lounge has voted “No with veto” amid recent contradictory beliefs related to KYC.

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7 Crypto Under $1 With Strong Potential For Growth

Cardano

Cardano is the first crypto asset on the list. ADA is rated among the top coins with enormous potential for growth during a bull market due to the constant development being carried out by the team.

XRP

Ranked as the sixth-largest cryptocurrency by market cap, XRP is currently the only crypto asset with legal clarity in the United States. While this development has not yet impacted the asset’s price, several market analysts predict that XRP would rank among the top gainers in the peak of the bull market.

Polygon

MATIC, the official token of the Polygon ecosystem, is the third coin on our list of crypto assets under $1 that has strong potential for growth.

Dogecoin

Dogecoin is one of the cryptocurrencies that are expected to experience tremendous growth in the upcoming bull market. The top meme-based cryptocurrency has recorded widespread adoption in recent times.

Shiba Inu

Shiba Inu is a popular name in the crypto market, and it is currently trading far below the $1 mark. At press time, Shiba Inu was changing hands at $0.00000935, representing a 13.7% decline over the past week.

VeChain

In recent times, many crypto analysts have been bullish on VeChain (VET), speculating that the digital asset would rally massively in the coming months. Following the recent emergence of a golden cross on VET’s 2-Day chart, popular analyst A.J. speculated that the coin could repeat a major milestone it recorded in 2020.

Stellar

Stellar is a major rival to Ripple. The company offers crypto payments service just like Ripple. Notably, the XLM coin is also used as a bridge currency for cross-border settlements, with top financial institutions, like Mastercard, leveraging the solution

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LUNC BURN

Although Terra Classic (LUNC) has surged 5.45% in the past 24 hours to $0.0001223, the impressive performance extends beyond mere price gains. The community’s concerted efforts have resulted in a staggering 420,331,290 LUNC tokens being burned over the past week alone.

These burns bring the total number of burned tokens to an impressive 98.69 billion LUNC, with only 1.31 billion separating it from the coveted 100 billion mark.

Diving deeper into the tokenomics, the total circulating supply of Terra Classic (LUNC) currently sits at 5.78 trillion, representing just over 85% of the total supply of 6.81 trillion. The community’s unwavering commitment to reducing this circulating supply through burning shows their long-term vision of driving up the token’s value.

#Will LUNC Price Hit $0.0002 In February

The daily chart backs the bullish theory in LUNC price as it seeks to debut about the 61.8% Fibonacci retracement level. This level is also a liquidity-rich area, where some investors may choose to take early profits, increasing volatility.

In recent developments, Vinh Nguyen, a Terra Classic developer, reportedly forked the Osmosis test tube to improve the Astroport practicality as well as to test planned upgrades that include a proposed 800 million USTC burn to solidify the ecosystem’s tokens; LUNC, and USTC.

As reported the Osmosis test tube will kill two birds with one stone: Fix Astroport and support the testing go the 800 million USTC burn contract migration.

If completed, these steps will improve the ecosystem’s liquidity and steady the price of the stablecoin USTC. Based on live data from CoinGecko, USTC rallied 40% in the last 24 hours to $0.038, affirming the community’s commitment to the project.

For now, traders are on the lookout for a second confirmation of the uptrend above the 61.8% Fibonacci level, approximately at $0.00014. More long positions will be opened as confidence in the uptrend grows for a breakout to $0.0002 in the next few days as well as the rally to the recent $0.00028 peak before the end of February.

Profit-taking activities might hamper the growth in the value of Terra Classic, compelling traders to keep tabs on support areas at $0.00012, and $0.0001, respectively. Dips could also serve as signals to buy into LUNC while focusing on the potentially massive rally in 2024

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Terra Classic holders are in a jubilant mood as LUNC price joins the bullish party, exploding by 15% to $0.0001335 on Thursday. The crypto market has generally exhibited strength this week, influenced by Bitcoin price swinging above $52,000.

It is believed that the growing interest in Bitcoin ETFs among institutional investors is the biggest force driving the rally. On top of this, the upcoming halving in April is improving market sentiment as investors take positions to benefit from the pre-halving rally and the bull run later in the year.

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