Terra Luna Classic proposal for the v2.3.0 upgrade has been approved by the community through governance voting. The on-chain deployment of terrad client v2.3.0, also referred to as “v6” incorporates dynamic validator commission module. Traders reacted immediately to the passing of the proposal with LUNC price rebounding again.

Terra Luna Classic Community Passes v2.3.0 Upgrade Proposal

The Terra Luna Classic community has approved Proposal 11874 “Upgrade to v2.3.0”. The proposal aimed to introduce dyncomm module, integrating protocol logic for determining minimum validator commissions based on voting power.

The scheduled upgrade height is 15493370, anticipated to happen on November 20 at 11.19 AM UTC, according to data by StakeBin.

The proposal has received 93% “Yes” votes and 7% “Abstain” votes. It indicates the community has unanimously favored the proposal for dynamic validator commission.

Among the 60 validators who participated in the voting, 58 validators have favored the proposal. This includes top Terra Luna Classic validators including Allnodes, Interstellar Lounge, HappyCattyCrypto, TerraCVita, and Interstake One.

CoinGape Media earlier reported that dyncomm module for dynamic validator commissions is officially approved by the L1TF team. Former L1TF developer Fragwuerdig will manage and lead the dynamic validator commissions development. After thorough testing, dyncomm will be rolled out to the columbus-5 mainnet.

Read More: Montenegro Court Upheld Verdict Against Terra Co-Founder Do Kwon

LUNC Price Rebounds

LUNC price jumped 1% after hitting a 24-hour low of $0.000074, with the price currently trading at $0.0000758. Furthermore, the trading volume has decreased by 20% in the last 24 hours, indicating a decline in the interest of traders.

LUNC price rebounded amid the market-wide recovery, up nearly 40% in a month. Meanwhile, USTC price trades at $0.013, up 20% in a month.

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The post Terra Luna Classic Proposal For v2.3.0 Upgrade Officially Passed, LUNC Jumps appeared first on CoinGape.

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Filed under: News - @ November 18, 2023 11:17 am