Terra Luna Classic Community Approves 256 Million LUNC Community Pool Spend

Terra Luna Classic community has passed a proposal by Genuine Labs developer group to disburse payment for development work in the last few months. The proposal represents tasks undertaken including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.

Terra Luna Classic Disburse 256 Million to Genuine Labs

Genuine Labs has successfully received more than 256 million LUNC worth $30,000. The Terra Luna Classic community passed proposal 12113 “Genuine Labs’s Community Spend Proposal” after checking and considering the latest tasks including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.

Genuine Labs has successfully provided Security Upgrade Packages in the Terra Classic v3.0.1 upgrade. It also offered improvements including fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain.

The proposal received overwhelming support from the community. It recorded 99.93% votes in favor from the community members and validators. All 46 validators including Allnodes, Interstellar Lounge, Interstake One, and others who participated have voted in favor of the community pool spend proposal.

The Terra Luna Classic community currently has 5.23 billion LUNC after the disbursement of 256 million LUNC to Genuine Labs.

Also Read: Terra Luna Classic Set To Implement Tax2Gas and End LUNC Burn Tax?

LUNC Price Awaits Another Push

LUNC price trading 0.70% down in the last 24 hours despite an uptick, with the price at $0.0001068. The 24-hour low and high are $0.0001052 and $0.0001093, respectively. Moreover, trading volume decreased slightly in the last 24 hours.

However, derivatives trading data indicates buying in the last few hours as traders analyze markets before the FOMC meeting.

Meanwhile, USTC price fell more than 1%, with the price changing hands at $0.02128. The 24-hour trading volume saw a 40% rise in the last 24 hours, indicating interest among traders.

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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