Stablecoin

Arthur

Terra

Time

The Terra Luna Classic community has rejected a proposal to enforce a 5% minimum validator commission. The community remained divided on the voting decision as the proposal received 37% votes in favor and 51% votes in opposition. Meanwhile, dyncomm module for dynamic validator commissions is officially approved by the L1 team.
<h2 id="terra-luna-classic-community-focus-on-validators">Terra Luna Classic Community Focus on Validators</h2>
Terra Luna Classic’s core developer L1TF has officially approved dyncomm module for dynamic validator commissions. Dyncomm will be tested on the rebel-2 testnet next week, expected around November 7.
Former L1TF developer Fragwuerdig will manage and lead the dynamic validator commissions development. After thorough testing, dyncomm will be rolled out to the columbus-5 mainnet.
Meanwhile, the community rejects Proposal 11853 “Enforce minimum 5% validator commission.” It aimed to implement a minimum validator commission of 5% as some validators still have are below the mandatory 5% commission. a failure of functional code preventing validators from breaking governance rules of a minimum 5% commission.
<blockquote>
 “Due to the failure of functional code preventing validators from breaking governance rules of a minimum 5% commission, it will become the responsibility of the L1 team to monitor validator commission. This to be checked once every 24-hour period.”
</blockquote>
The proposal requires any non-compliant validators to be immediately jailed. However, as the dynamic commission code is released, this rule becomes redundant. The proposal suggests it’s used as a backup if the code fails to function correctly again in the future.
The proposal received 37% “Yes” votes and 52% “No” votes, while 11% voted “Abstain.” 30 validators favored the proposal, but Allnodes, with 16.20% voting power, put the ball in rejecting the proposal. Terra Luna Classic’s top validators DFLunc, JesusIsLord, and Stakely also voted “No” on the proposal.
Read More: <a title="Binance Delisting ADA, MATIC, SHIB, LUNA, LUNC &amp; 18 Other Crypto, But There’s A Catch" href="https://coingape.com/binance-delisting-ada-matic-shib-luna-lunc-18-other-crypto-margin-pairs/" target="_blank" rel="noopener noreferrer nofollow">Binance Delisting ADA, MATIC, SHIB, LUNA, LUNC &amp; 18 Other Crypto, But There’s A Catch</a>
LUNC price jumped 4% in the last 24 hours, with the price currently trading at $0.000064. The 24-hour low and high are $0.0000619 and $0.0000657, respectively.
However, USTC price tumbled 1% in the past 24 hours and 4% in a week, with the price currently trading at $0.011. However, the trading volume has increased 139% in the past 24 hours.
Also Read:
<ul>
 <li><a title="Breaking: US SEC Enforcement Division Subpoenas PayPal For PYUSD Stablecoin – Details" href="https://coingape.com/breaking-us-sec-enforcement-division-subpoenas-paypal-for-pyusd-stablecoin-details/" target="_blank" rel="noopener noreferrer nofollow">US SEC Enforcement Division Subpoenas PayPal For PYUSD Stablecoin</a></li>
 <li><a title="Ripple CLO Stuart Alderoty And XRP Lawyers Mock SEC Chair Gary Gensler" href="https://coingape.com/ripple-clo-stuart-alderoty-and-xrp-lawyers-mock-sec-chair-gary-gensler/" target="_blank" rel="noopener noreferrer nofollow">Ripple CLO Stuart Alderoty And XRP Lawyers Mock SEC Chair Gary Gensler</a></li>
 <li><a title="Crypto Market Rally: BitMEX’s Arthur Hayes Explains Why “It’s Time To Pump” Bitcoin" href="https://coingape.com/crypto-market-rally-bitmexs-arthur-hayes-explains-why-its-time-to-pump-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Crypto Market Rally: BitMEX’s Arthur Hayes Explains Why “It’s Time To Pump” Bitcoin</a></li>
</ul>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/terra-luna-classic-l1tf-approves-dyncomm-community-rejects-validator-commission-proposal/">Terra Luna Classic L1TF Approves Dyncomm; Community Rejects Validator Commission Proposal</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Terra Luna Classic L1TF Approves Dyncomm; Community Rejects Validator Commission Proposal

Table of Contents

Coingape News Media

Other articles published on Nov 2, 2023

Swiss-based SGKB Bank Now Offers Crypto Services to Customers

UK National Crime Agency to set up a unit to combat crypto fraud

Surge in Weekly Inflows: Crypto ETPs Witness Record $326 Million Investments

Pasokan Aptos (APT) Bakal Bertambah, Tanda Awal Aksi Jualkah?

XRP gains approval from Dubai Financial Services Authority

Hong Kong maintains Web3 Vision amid JPEX fraud case

Join our free newsletter for daily crypto updates!