Burn

Channels

Terra

Read

Pack

<div class="coingape"> 
 <h2 id="terra-luna-classic-moves-closer-to-ustc-repeg">Terra Luna Classic Moves Closer to USTC Repeg</h2> 
 <p>Proposal 11710 “Directly burn the 800 million USTC” submitted by Vegas is officially passed by the Terra Luna Classic community. Amid the growing consensus among the community members to burn 800 million USTC, a new proposal was put forward to directly burn the tokens.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p>According to the proposal, signatories of the Ozone reserve wallet should initiate the burning process for the 800 million USTC. This can be accomplished by directly transferring the funds to the Terra Luna Classic burn address. Moreover, proposals 11658 and 11660 passed by the community will become ineffective.</p> 
 <p>Proposal 11658 aimed at bringing back 800 million USTC from the Ozone Protocol reserve wallet to the Terra Luna Classic community. Whereas, Proposal 11660 was a counter-proposal to burn 800 million USTC rather than sending them to the community pool. The community passed both proposals, thus a new proposal was needed to directly burn these tokens.</p> 
 <p>Proposal 11710 has received nearly 85% votes in favor, while 8% “Abstain” and 7% “No” votes. Out of 40 validators who participated in the proposal, 35 validators including Allnodes, Interstellar Lounge, HappyCattyCrypto, StakeBinfavor, and 1maxfee favor to burn 800 million USTC.</p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p><strong>Read More: Terra Luna Classic Community Turns Down USTC Repeg Team Proposal; LUNC Burn Rises</strong></p> 
 <h2 id="lunc-and-ustc-prices-rebound">LUNC and USTC Prices Rebound</h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>LUNC and USTC prices are recovering from the recent selloff in the broader crypto market. The 800 million USTC burn is significant for repeg and revival of LUNC.</p> 
 <p>LUNC price jumped 1% in the past 24 hours, with the price currently trading at $0.000066. The 24-hour low and high are $0.0000662 and $0.0000681, respectively.</p> 
 <p>Meanwhile, USTC price trades at $0.013, up nearly 5% in the past 24 hours. The 24-hour low and high are $0.0126 and $0.0137, respectively.</p> 
 <p><strong>Also Read: </strong></p> 
 <ul> 
  <li>Days Of Big Bitcoin Pumps Are Over: Bloomberg’s Mike McGlone</li> 
  <li>Empowered Funds Files For Bitcoin Futures ETFs</li> 
  <li>XRP Leads the Pack in Altcoin Space Recovery, Whales Buy the Dips</li> 
 </ul> 
</div>

Terra Luna Classic Passes Proposal To Burn 800 Mln USTC

Table of Contents

TheBitTimes

Other articles published on Aug 21, 2023

ETH Price Can See 45% Correction if Ethereum Falls Under This

Whistleblower Edward Snowden to Headline the Bitcoin Amsterdam Conference

Binance Listing Spurs Bullish CYBER Surge, Is a Reversal Imminent?

Bitcoin volatility coming with convergence towards strong support

Introducing ChainGPT V1, The AI-Powered Dashboard for Navigating Web3 - Launching August 10th

Ethereum whale sells $41m ETH before crypto market crash

Join our free newsletter for daily crypto updates!