November 2, 2023
The Terra Luna Classic community recently made important decisions regarding validator commissions and the approval of a new module. Here are the key points:
The core developer of Terra Luna Classic, L1TF, has officially approved the dyncomm module for dynamic validator commissions. This module will bring flexibility and efficiency to the commission structure. It will be tested on the rebel-2 testnet next week, with the expected release date around November 7. Fragwuerdig, a former L1TF developer, will lead the development of the dynamic validator commissions.
The Terra Luna Classic community rejected Proposal 11853, which aimed to enforce a minimum 5% validator commission. The proposal received 37% of votes in favor and 51% of votes in opposition, with 11% abstaining. The proposal required non-compliant validators to be immediately jailed. However, with the approval of the dyncomm module, this rule becomes redundant. The proposal suggests keeping it as a backup in case the dynamic commission code fails in the future.
The proposal received support from 30 validators, but it was ultimately rejected due to the opposition of influential validators such as Allnodes, DFLunc, JesusIsLord, and Stakely. Allnodes, with 16.20% voting power, played a significant role in rejecting the proposal.
In other news, the price of LUNC, the native token of Terra Luna Classic, experienced a 4% increase in the last 24 hours and is currently trading at $0.000064. The 24-hour low and high were $0.0000619 and $0.0000657, respectively. On the other hand, the price of USTC, another token, decreased by 1% in the past 24 hours and 4% in a week, currently trading at $0.011. However, the trading volume for USTC has increased by 139% in the last 24 hours.
The Terra Luna Classic community's focus on validators is evident in their decisions regarding validator commissions and the approval of the dyncomm module. By rejecting the proposal to enforce a minimum 5% validator commission and approving the dyncomm module, the community aims to ensure a flexible and efficient commission structure. These decisions were influenced by the voting results and the involvement of influential validators. Additionally, the market update highlights the recent price movements of LUNC and USTC tokens.
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