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 <p>According to the latest voting details, Proposal 11716 “<strong>USTC / Stable Algo Quant Team – Month 2/2</strong>” has received <strong>45% “Yes” votes</strong>. However, the proposal gets <strong>43% “No with veto”</strong> and <strong>11% “No” votes</strong>. Thus, the majority of the Terra Luna Classic community voted to reject the spending proposal.</p>  
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 <p>Interestingly, 11 out of 17 validators including Lunanauts, PFC, StakeBin, and Coinpayu voted “Yes” and others such as SolidVote, Vegas Node, and JESUSisLORD rejected the proposal. While it still has a few more days for voting, the proposal isn’t getting support from the Terra Luna Classic community.</p> 
 <p>The Quant Team seeks <strong>285 million LUNC</strong> ($20,000) funding for August. The team will enhance a tool for the USTC Incremental Repeg Buybacks &amp; Staking Swaps algorithm.</p> 
 <p>The USTC repeg team also plans to identify sources of “zombie USTC” for burn without any additional funding. Currently, the team is working to prepare for 800 million USTC related to the Ozone protocol.</p>  
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 <p><strong>Read More: Terra Luna Classic’s (LUNC) Vision For Revival And Better Governance</strong></p> 
 <h2 id="lunc-burn-rate-jumps">LUNC Burn Rate Jumps</h2>  
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 <p>LUNC price is continuously falling since it failed to hold above the $0.00009 level. However, the recent decline in prices has boosted the LUNC burn rate. The Terra Luna Classic burn rate significantly increased from August 15, as per data by StakeBin.</p> 
 <p>LUNC price is currently trading at $0.000064, up 3% in the last 24 hours. The 24-hour low and high are $0.0000614 and $0.0000650, respectively.</p> 
 <p>Meanwhile, USTC price also recovered 3% in the past 24 hours, with the price currently trading at $0.012. However, the trading volume has decreased in the past 24 hours.</p> 
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  <li>Shiba Inu Lead Developer Promises Scaling Shibarium By 1500%</li> 
  <li>Sam Bankman Fried Urges for Weekly Jail Release to Prepare for Defense Case</li> 
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Terra Luna Classic Turns Down USTC Repeg Team's Proposal

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