The Genuine Labs Community Spend Proposal has received overwhelming support from the Terra Luna Classic (LUNC) community, with an approval rate of 99.98% on June 3, 2024. A staggering majority of 84.2 billion votes were exercised in favor of the proposal. This significant endorsement is expected to have a profound impact on the future direction of the Terra Luna Classic network.
Furthermore, the community’s backing of the plan to allocate 256,410,256 LUNC for development projects marks a pivotal moment for Terra Luna Classic. The fund aims to foster ecosystem innovation and sustainability.
The high voter turnout, which saw the overwhelming majority of voting power being utilized, reflects the community’s immense interest and trust in Genuine Labs’ strategic vision for the platform. It also signifies a general sense of optimism regarding the network’s potential for growth. This level of support is crucial as it empowers developers to work on projects that introduce new features and enhance the overall ecosystem.
In contrast, Proposal 12105, an initiative to increase the LUNC burn tax, was recently rejected by the Terra Luna Classic community. Many felt that the concept lacked logical reasoning and required a more specific strategy for implementation. Consequently, the proposal only garnered a meager approval rate of 21.35%, with 32% in complete opposition and 38% voting “No with a veto” to halt its progress.
In other crypto news today, the Shiba Inu (SHIB) team has issued a warning to investors about the growing threat of scams.
