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Terra Luna Classic Community Votes On Game Changing Proposal

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LUNC News: Terra Luna Classic proposal to implement Tax2Gas and remove the need for separating handling and calculation of tax. Tax2Gas will incorporate the tax into the gas and decrease complexities for dApp developers, as per a proposal by StrathCole and Genuine Labs.

Terra Luna Classic Starts Voting on Tax2Gas Proposal

Proposal 12115 “Genuine Labs Tax2Gas Implementation” is currently under governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas and help prevent as much attack vectors as possible using e2e-test.

At press time, the proposal has received 99.98% “Yes” votes and indicates the community’s acceptance to the Tax2Gas implementation. All validator who participated have voted in favor of the proposal. It received quick support from validators such as JESUSisLORD, StakeBin, Ninja Node, and others.

As reported earlier, Tax2Gas proposal looks to resolve issues including contract developers’ need to calculate the tax manually. Moreover, clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.

Developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.

Also Read: Terra Luna Classic Votes On Implementing New LUNC Burn Tax

LUNC and USTC Prices Climbed

LUNC price jumped 4% in the last 24 hours amid positive sentiment due to cooling CPI, with the price currently trading at $0.0001049. The 24-hour low and high are $0.00009855 and $0.0001057, respectively. Moreover, trading volume increased by 20% in the last 24 hours, indicating interest among traders.

However, the price is still below the key level of $0.00012 and needs to soar above the level for a massive rally in Terra Classic ecosystem tokens.

Meanwhile, USTC price also climbed more than 3%, with the price now trading at $0.02378. The 24-hour trading volume saw a mere 5% rise in the last 24 hours as traders await the Fed interest rate decision post-FOMC today.

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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.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Whale Shifts 63M Coins As Ripple Strengthens Case

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In an unprecedented development, a renowned XRP whale has again shifted significant amounts of XRP coins as the Ripple vs SEC lawsuit took a fresh direction. On-chain insights reveal that the whale moved 63M XRP as Ripple Labs took to court filing a Notice of Supplemental Authority.

The whale’s transaction as Ripple further strengthened its case has stirred a whirlpool of speculations on XRP’s future price movements. Let’s delve more profoundly as to why.

Whale Dumps Coins Despite Ripple’s Optimistic Mover

Notably, on-chain insights by Whale Alert reveal that 63 million coins, worth $30.63 million, were offloaded to exchanges despite Ripple solidifying its arguments for meager fines. The well-known whale address …Rzn was noted to have been dumping the abovementioned amount in two transactions to Bitstamp and Bitso.

These transactions have ignited a storm of mixed market sentiments. While Ripple’s legal battle seemed to be progressing positively, offering a glimmer of hope for the future, the whale’s decision to offload the asset has introduced a new level of uncertainty for future movements.

Meanwhile, legal expert Jeremy Hogan took to X, drawing attention to what Ripple’s filing of a Notice of Supplemental Authority highlighting the Binance vs SEC lawsuit meant. He highlights that the mover by Ripple Labs is relevant to two things: the possible injunction against Ripple and the potential fine.

In context, Ripple filed the notice highlighting the Memorandum Opinion and Order issued by the U.S. District Court for the District of Columbia in the SEC v. Binance Holdings case. Ripple strongly argues that the SEC’s classification of cryptocurrencies as securities is ambiguous and unclear, hinting that both injunction and fine should be light.

It’s worth noting that Ripple also filed a Notice of Supplemental Authority the previous month, citing way lower fines in the Terraform Labs lawsuit.

Collectively, these developments appear to have tilted the odds in Ripple’s favor. However, a final judgment by Judge Analisa Torres still looms.

Simultaneously, amid the lawsuit’s uncertainty, XRP price continues to fight turbulence.

Also Read: Mantra Chain Announces $500M Real Estate Tokenization Deal With Dubai’s MAG Group

XRP Price Performance

At press time, the XRP price noted a 0.40% dip in value to trade at $0.4824. Its 24-hour lows and peaks were recorded to be $0.4784 and $0.4877, respectively.

XRP’s RSI moved along 46, hinting at broader neutrality for the asset. Crypto market enthusiasts continue to eye the token as new developments unfold in the lawsuit. Further, a recent report by CoinGape Media cracks down on whether a $10 price target for XRP is scalable or not.

Also Read: Crypto Airdrop: UXLINK Reveals Eligibility Criteria For Major Rewards

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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GALA Token To Get Major Boost With Gala Games And Animoca Brands Partnership

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Gala Games and Animoca Brands on Wednesday announced a major collaboration to boost GALA token experience for users. Game software company and venture capital firm Animoca Brands will facilitate orderly trading of the GALA token, one of the best gaming tokens, and plans to become a GalaChain validator in the future. Traders reacted immediately to the announcement bringing a rebound in GALA price.

Animoca Brands Plans Major Developments with Gala Games

Two big companies in crypto Animoca Brands and Gala Games have joined hands to work on many developments for GALA token, as per the announcement on the X platform on July 3. This includes providing liquidity provisioning services and fostering stable trading of GALA tokens in the crypto market.

Gala Games said Animoca Brands will receive GALA tokens from Gala’s Treasury to offer liquidity provisioning services to Gala Games, which will help enable trading in an orderly way. The announcement has sparked curiosity in the community of gamers and NFT enthusiasts.

In addition, Animoca Brands also plans to become a GalaChain validator, with the exact timeline still unclear. The company is already an operator of nine Gala Founder’s Nodes. Gala Games is entirely dedicated to decentralizing the multi-billion dollar gaming industry by various means including decentralized video games and giving players access to their in-game items.

Also Read: Spot Ethereum ETFs to Go Live on July 15, ETH Bull Run Ahead?

GALA Token To Rally?

Traders responded immediately to the announcement, bringing a rebound in GALA price. The tokens fell over 4% in the last 24 hours amid a broader crypto market selloff.

At press time, GALA price is trading at $0.02625. The 24-hour low and high are $0.02596 and $0.02796, respectively. Moreover, the trading volume has increased by 38% in the past 24 hours, indicating a rise in interest among traders.

In the derivatives market, traders are buying GALA futures again after a 5% fall in open interest in the last 24 hours. As per CoinGlass data, the total GALA futures open interest has increased to 2.35 billion after the recent interest.

Also Read: Bybit Exchange Unveils Support For ASI Alliance, Will FET Rebound?

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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.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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UXLINK Reveals Eligibility Criteria For Major Reward

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Today, UXLINK has disclosed the eligibility criteria for its much-anticipated airdrop rewards. This announcement, made on the social media platform X, outlines the detailed process and metrics for the upcoming Season 1 UXLINK crypto airdrop. Moreover, UXLINK aims to ensure transparency and fairness in the distribution of its tokens. Hence, it looks forward to rewarding active and genuine contributors while maintaining a strong and secure ecosystem.

What Is UXLINK About?

UXLINK is an innovative social platform in the Web3 space, designed to promote widespread use by integrating social and decentralized apps (DApps) features. It works differently from conventional social media that focus on one-way, follower-based interactions. Thus, UXLINK emphasizes mutual snd friend-like connections. This design allows for immediate engagement via its UXGroup feature, establishing UXLINK as a leading user-centric platform.

According to UXLINK whitepaper, the platform’s primary goals are defined by three main components:

1. Social Hub: UXLINK aims to become the largest social network and infrastructure, focusing on genuine, two-way connections.

2. Access To All: Furthermore, the platform connects Web3 and Web2, enabling users and developers to discover, share, and trade crypto assets within a social, group-oriented environment.

3. Community Growth: in addition, UXLINK is dedicated to building an inclusive, trustworthy, and rewarding socio-economic community.

Tokenomics & Allocation

UXLINK has a capped token supply of 1,000,000,000 tokens, allocated strategically to maximize community involvement and project sustainability. The allocation is as follows:

1. Community: The platform has allocated 65% of the total supply to the community, which includes users who own UXLINK utility tokens and contributors to UXLINK projects and ecosystems. Moreover, within this allocation, users account for approximately 40%, while builders and partners make up 25%.

2. Private Sale: Meanwhile, 21.25%, allocated to partners of the project.

3. Team: 8.75%, reserved for co-founders and contracted employees.

4. Treasure: The platform reserves 5% UXLINK tokens for liquidity and project management.

Moreover, this structure allows for flexibility and adaptation as new partners join the project. UXLINK has committed to maintaining transparency in any changes to the allocation.

Also Read: Just-In: Gala Games And Animoca Brands Partners For GALA Token Boost

UXLINK Airdrop Eligibility Criteria

UXLINK’s airdrop eligibility criteria aim to reward genuine contributions and ensure a fair distribution of tokens. The criteria include:

1. UXLINK Social Contribution Scoring: Metrics include the completeness of a user’s profile, their interaction activity with UXLINK, and the activity within their social relationship chain.

2. Third-Party Sybil Identification: Professional third-party services like Trusta Labs will identify sybil accounts using AI-ML clustering algorithms.

3. Third-Party Wallet Authentication: Participation through third-party wallets requires address authentication by these wallets.

4. Third-Party Partner Whitelist Authentication: Addresses involved in partner airdrop campaigns must be authenticated by the partners’ whitelist.

However, various factors may influence a user’s eligibility and quality score, such as:

  • Certification of addresses as suspected sybil accounts by third parties.
  • Use of unauthenticated third-party wallet connections.
  • Low-value social networks within UXLINK.
  • Participation in uncertified third-party campaigns.

Meanwhile, eligible users can also receive 100% airdrop rewards if they meet the following conditions:

  • Purchase of NFT via Ethereum (ETH) on official websites.
  • High UXLINK social contribution score.
  • Recognition by professional third-party anti-sybil services.
  • Certified third-party wallet addresses.
  • Certification by partner whitelists.

Treatment for Temporarily Unqualified Users

Users with temporarily unqualified quality scores can still receive a portion of the airdrop under specific conditions:

1. Self-Reporting: If users self-report within three days, they can receive 15% of the token airdrop, with the remaining 85% redistributed to qualified contributors.

2. Complaint and Proof Submission: Users can submit complaints and proofs within six months for review. If approved, they will receive 100% of the tokens; otherwise, the tokens will be redistributed.

3. Failure to Act: However, Users who neither self-report nor appeal will forfeit their airdrop. Moreover, UXLINK will redistribute their tokens to qualified contributors.

Also Read: Shiba Inu Coin Set For Reversal As Burn Rate Hits 8500%

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Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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