Burn

Channels

Million

Terra

<div class="coingape"> 
 <h2 id="terra-luna-classic-proposal-to-burn-800-million-ustc">Terra Luna Classic Proposal To Burn 800 Million USTC</h2> 
 <p><strong>Proposal 11658</strong> “Return of Community funds not used” by ex-Terra Rebels developer group member <strong>Vegas </strong>is up for voting. The proposal brought attention to idle 800 million USTC tokens related to Ozone Protocol and aims to return these tokens to the Terra Luna Classic community pool as the project is not actively following the proposed development plan.</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>The <strong>Ozone protocol</strong>&nbsp;was initially proposed by Terra co-founder&nbsp;Do Kwon&nbsp;and bootstrapped using funds from the community pool. The Ozone V1 and Ozone V2 saw high demand for their underwriting capacity. However, the Risk Harbor team has not utilized 1 billion UST (now USTC) fully as intended. Thus, the funds should return to the community pool.</p> 
 <p>However, a counter-proposal by DNC, M Van S, Lunanauts, and SolidVote Validator aims to burn 800 million LUNC, even if Proposal 11658 passes. The new <strong>Proposal 11660</strong> claims that a large portion of the community is requesting these funds to be burned.</p> 
 <blockquote> 
  <p>“We neglected to use the Commonwealth platform to discuss for the recommended 7 days due to the simplicity of the proposal and the critical timing. This proposal is required as a counter to 11658 before a flurry of spend proposals arrive.”</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.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" 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.thebittimes.com/images/2023/07/30/9acafad721dcbc6c15e6daccd38017cb.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/9acafad721dcbc6c15e6daccd38017cb.webp" 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 Exchange Affiliate Programs In 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.thebittimes.com/images/2023/07/31/b31cabf387544aafba212df61a9a40a5.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/31/b31cabf387544aafba212df61a9a40a5.webp" 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.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/30/472515f3ab5ae759f4e49d6afa8bc33a.webp" 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.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/07/29/48cfebc8a0493db9937bed5dd005ee19.webp" 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> 
 </blockquote> 
 <p>Top validators look to favor the counter-proposal and set forward the mechanism to burn 800 million USTC a wallet linked to Ozone Protocol. It will provide a necessary push to USTC repeg and LUNC developments, which have failed to bring a strong upside momentum in USTC and LUNC prices.</p>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><strong>Also Read: XRP Lawyers, Coinbase CLO Share Significance Of Judge Torres’ Ripple Ruling</strong></p> 
 <h2 id="lunc-and-ustc-await-breakouts">LUNC and USTC Await Breakouts</h2> 
 <p>LUNC price fell more than 1% in the past 24 hours, with the price currently trading at $0.000080. The 24-hour low and high are $0.0000800 and $0.0000820, respectively. According to CoinGape Markets, LUNC price can recover above the $0.00009 support level due to triangle pattern formation.</p> 
 <p>Meanwhile, USTC price trades at $0.015, down 2% in the past 24 hours after a recent 50% rally amid&nbsp;USTC repeg announcements. Trading volumes declined in the last few days as traders moved back to LUNC.</p> 
 <p><strong>Also Read: </strong>Terra Luna Classic (LUNC) Key Governance And Decentralization Proposal Officially Passed</p> 
</div>

Terra Luna Classic Community Favors To Burn 800 Million Tokens, LUNC And USTC To $1?

Spis treści

TheBitTimes

Inne artykuły opublikowane 1 sie 2023

Pomerdoge’s growth potential surpasses Pepe and Shiba Inu

X, Sues Researchers Who Showed Rise in Hate Speech on Platform After Musk Takeover

Opinion: No, Sam Bankman-Fried isn't going to walk free

Outpost Season 15 - Confuser & Grey Scientist 01/08/23 @ 00:00 UTC FOR 24HRS

Blockchain Solutions Provider Block Odyssey Launches NFT Ticket Service, “MakeDrop”

BNB Price Trade Idea As Binance Bags Dubai’s Major Exchange License

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!