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MainNewsLUNC Communi...

LUNC Community Divided Over Controversial USTC Proposal


by Coin Edition
for CoinEdition
Terra Luna Classic Governance Proposal Faces Opposition
  • 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 the article at CoinEdition

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MainNewsLUNC Communi...

LUNC Community Divided Over Controversial USTC Proposal


by Coin Edition
for CoinEdition
Terra Luna Classic Governance Proposal Faces Opposition
  • 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 the article at CoinEdition

Read More

Stablecoins Could Bring 'ChatGPT' Moment to Blockchain Adoption, Hit $3.7T by 2030: Citi

Stablecoins Could Bring 'ChatGPT' Moment to Blockchain Adoption, Hit $3.7T by 2030: Citi

Stablecoin issuers could become one of the top U.S. Treasury holders, surpassing majo...
Stablecoins Could Hit $3.7 Trillion by 2030, Says Citigroup Report

Stablecoins Could Hit $3.7 Trillion by 2030, Says Citigroup Report

Stablecoins are set to shift from the periphery to the mainstream in the world of cry...