In a recent video on the ClayBro YouTube channel, Clay, the host, stated that the Terra Luna Classic community has overwhelmingly rejected a $130,000 spending proposal. This proposal is just one among several others the community has considered this month.
Notably, the $130,000 proposal aims to develop the Terra LUNC blockchain for the next quarter, primarily focusing on enhancing the blockchain’s infrastructure. Additionally, it includes a provision for a $10,000 monthly payment to nodes from the fund.
Terra Luna Votes: Critical Decision Looms
More than 50% of the community has opposed the proposal, with 22.5% showing support. Additionally, 26% of the community has abstained from voting, and a mere 0.06% have vetoed the proposal. Clay has emphasized that, for the proposal to gain approval, it will need an additional 200 billion Terra LUNC votes.
Simultaneously, the Terra LUNC community is actively participating in voting on other proposals related to the blockchain. One of note is a proposal to whitelist coined wallets for off-chain burns. This proposal also introduces an additional 0.5% fee on LUNC and USTC trades, which will be burned based on the exchange volume they receive.
According to Clay’s video, he highlighted the necessity for Terra Luna to burn tokens to stimulate growth. The proposal has garnered significant support, with an overwhelming 99.84% of votes in favor, while only 0.05% voted against it, and 0.12% chose to abstain. The voting period for this proposal is scheduled to end on October 7.
The Community Votes Down Other Proposals
Another proposal, which aimed to implement a burn option for LUNC trading pairs on exchanges, faced a significant setback in the community. In this case, 48% of the community opposed the proposal, with a mere 0.55% showing support. A substantial 51% of the community abstained from voting on this matter.
Similarly, the community rejected a proposal for a $45,000 monthly salary for blockchain developers. Despite recognizing the depth of the developer team’s contributions to the blockchain’s progress, Clay highlighted that, currently, the community cannot afford the proposed $45,000 monthly salary. This decision reflects the careful consideration of financial resources within the Terra Luna community.
Read Also: The Terra Classic Network to Stop Terra LUNC Re-Mints
