• Terra Classic was awaiting its next core network upgrade on 12 September 
• LUNC and LUNA were both down by 2% and 3% in the last 24 hours, respectively 

Terra Classic [LUNC] has been observing a rise in the number of spam proposals over the past months. To tackle that, the Terra Classic ecosystem has submitted a new proposal aimed at changing a few fundamentals, which can help reduce spam proposals. This happened just a few days before the blockchain’s upcoming network upgrade. 

 How much are 1,10,100 LUNCs worth today        

Terra Classic’s new proposal is under voting 

The blockchain has seen an increase in “SPAM” proposals going up. Since the price of LUNC has dropped, 1 million LUNC is no longer effective in combating these types of proposals. Therefore, a new proposal has been submitted as an initiative to combat spam proposals by increasing the minimum deposit amount to 5 million LUNC.

Initiative to combat spam proposals by increasing minimum deposit amount to 5M LUNC

We currently have seen an increase in “SPAM” proposals going up, since the price of LUNC has dropped, 1M LUNC is no longer effective in combatting these types of proposals, this proposal will…

— Hexxagon (@hexxagon_io) September 8, 2023

At press time, more than 90% of the votes were in favor of the new proposal. Only 8.8% were against it, suggesting that it was likely for the proposal to pass. The voting period will end on 16 September 2023. 

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Author: Dipayan Mitra

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