LUNC Community Divided Over Controversial USTC Proposal
- The LUNC Dash Proposal aims to decentralize decision-making and improve USTC’s market position.
- MrDiamondhandz criticizes the LUNC Dash Proposal.
- The proposal is met with mixed reactions, with voter turnout falling short of the 40% quorum.
The Terra Luna Classic (LUNC) community is grappling with internal conflict as a prominent validator fiercely opposes a newly proposed strategy to revitalize the struggling stablecoin, USTC.
MrDiamondhandz, a well-known validator who operates LuncLiveOrg, has voiced strong opposition to the initiative.
The LUNC Dash Proposal
The proposal in question, known as the LUNC Dash Proposal, aims to reshape the future of USTC (TerraUSD Classic) by repositioning it to improve its market relevance and mitigate regulatory challenges.
Key aspects of the proposal include rebranding TerraUSD (USTC) as Universal Standard Token Classic (USTC) to establish a new identity. It also suggests reclassifying USTC as a memecoin, acknowledging its current market dynamics, while retaining the original USTC ticker for brand recognition.
Additionally, the proposal suggests forming a special response team that can act quickly in emergen…
The post LUNC Community Divided Over Controversial USTC Proposal appeared first on Coin Edition.
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LUNC Community Divided Over Controversial USTC Proposal
- The LUNC Dash Proposal aims to decentralize decision-making and improve USTC’s market position.
- MrDiamondhandz criticizes the LUNC Dash Proposal.
- The proposal is met with mixed reactions, with voter turnout falling short of the 40% quorum.
The Terra Luna Classic (LUNC) community is grappling with internal conflict as a prominent validator fiercely opposes a newly proposed strategy to revitalize the struggling stablecoin, USTC.
MrDiamondhandz, a well-known validator who operates LuncLiveOrg, has voiced strong opposition to the initiative.
The LUNC Dash Proposal
The proposal in question, known as the LUNC Dash Proposal, aims to reshape the future of USTC (TerraUSD Classic) by repositioning it to improve its market relevance and mitigate regulatory challenges.
Key aspects of the proposal include rebranding TerraUSD (USTC) as Universal Standard Token Classic (USTC) to establish a new identity. It also suggests reclassifying USTC as a memecoin, acknowledging its current market dynamics, while retaining the original USTC ticker for brand recognition.
Additionally, the proposal suggests forming a special response team that can act quickly in emergen…
The post LUNC Community Divided Over Controversial USTC Proposal appeared first on Coin Edition.
Read More
SEC Guidance: Certain USD Stablecoins Deemed Not Securities, Crenshaw Dissents