Terra Classic Proposals: Addressing Spam with Higher Deposit Requirements

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The Terra Classic community is addressing the surge of spam proposals, which many attribute to the recent drop in Luna Classic (LUNC) values. A leading proposal suggests amplifying the minimum deposit from a mere 1 million LUNC to a hefty 5 million LUNC. This is in hopes of a predicted price surge leading to the upcoming upgrade.

Proposal 11780: An Initiative Against Spam 

Labeled “Initiative to Address Spam Proposals by Raising Minimum Deposit to 5M LUNC,” Proposal 11780 is under scrutiny. Its core aim is a fivefold increase in the deposit requirement, setting a challenging benchmark for scammy proposals to proceed. By implementing this, Terra Classic aims to stave off the bombardment of redundant or spam-laden proposals that flood their voting system.

There’s a consensus among validators that a 1 million LUNC minimum deposit falls short in warding off undesired proposals. Hexxagon, the developer group behind the popular community-driven Station wallet, has also noted this spam surge.

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In the current voting landscape, 34% support the proposal, 64% oppose, and a small 2% vote “No with veto.” Noteworthy validators like Hexxagon, Lunanauts, and Coinpayu are backing the proposal.

Upcoming Terra Classic Developments 

On the horizon, Terra Classic’s developers are prepping for the v2.2.1 core upgrade, set for Sept. 12, 9:57 a.m. UTC. Concurrently, the TerraUSD Classic (USTC) analytics team is forging connections with centralized exchanges, aiming to restore the USTC’s peg. It further confirms the ecosystem is still growing, despite earlier developments. Whether that is sufficient to rekindle interest in Terra Classic, is a different matter.

Both LUNC and Terra (LUNA) have witnessed an impressive spike in their trading volumes. Impactful community-backed proposals spur this. Terraform Labs’ LUNA has recorded over 5% growth in just a week. Similarly, LUNC is on a bullish trajectory, likely due to its developers’ impending core upgrade.

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