• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Community Decision on Validator Set Expansion in Terra Luna Classic

Community Decision on Validator Set Expansion in Terra Luna Classic

user avatar

by Giorgi Kostiuk

9 months ago


The Terra Luna Classic community recently made a significant decision regarding the proposed expansion of the validator set on the blockchain. This decision was influenced by the resolution of a $4.5 billion settlement with the U.S. SEC, leading to a dispute among validators over network decentralization.

The community of Terra Luna Classic rejected a contentious proposal to increase the validator set to 130, following the agreement between Terraform Labs and Do Kwon with the U.S. SEC. The proposal aimed to integrate Luna v2 validators from the Terra (LUNA) community into Terra Classic, with the goal of improving network decentralization.

Summary of Community Reaction

1. Proposal Rejection:

The community voted against Proposal 12116, which intended to raise the validator limit from 100 to 130. The outcome revealed that only 30.59% of the votes were in favor of the proposal, while 46.17% opposed it, and 22.59% abstained. This outcome signifies the community's hesitation to expand the validator set at the current juncture.

2. Voting Breakdown:

Out of the 46 validators that participated in the vote, only 10 supported the proposal. Notable validators like Allnodes, Luna Station 88, LuncGoblins, and Autism Staking voted against the proposal, expressing concerns about the chain's readiness for such an enlargement. Allnodes highlighted that the threshold of LUNC required to enter the active set is not overly burdensome.

3. Proposer's Argument:

The proposer advocated for enlarging the validator set to enhance network decentralization and benefit the LUNC community. However, the opposing side contended that the current LUNC requirements for joining the active set are manageable, suggesting that the network may not be prepared for the proposed change.

LUNC Community’s Ongoing Initiatives

Recent reports indicate that the total LUNC burned has exceeded 113.71 billion tokens. Binance contributed significantly to this burn, accounting for approximately 51.9% of the overall tokens eliminated by the community.

The continuous burning of tokens by Binance aligns with the objective of promoting the development and stability of Terra Luna Classic. Presently, Terra (LUNA) is valued at $0.4268, marking a 4.41% increase in the last day and a 3.01% rise over the past week.

The community's deliberative stance highlights its cautious approach towards reinforcing network decentralization and ensuring the readiness and stability of Terra Luna Classic.

0

Share

Other news

Popular Cryptos 2025: Why Qubetics is Worth Your Attention

The crypto market in 2025 promises great potential with new projects. Discover why Qubetics can be your next big opportunity.

user avatarGiorgi Kostiuk

a minute ago

Crypto Traders Cautiously Await Trump's Tariff Announcement

The crypto market anxiously awaits Trump's tariff news, which could affect Bitcoin's price and cause instability.

user avatarGiorgi Kostiuk

a minute ago

BlockDAG's $5M Raise in Two Days, AVAX, and XRP's Shifting Dynamics

BlockDAG raises $5M in 48 hours. AVAX targets $30 ETF surge, while XRP faces a price dip.

user avatarGiorgi Kostiuk

10 minutes ago

Ethereum Whales Build Up Ahead of Pectra, Tether Expands into Media

Ethereum whales acquire ETH before Pectra upgrade, Tether invests in media. BlockDAG stands out with its Layer-1 solution.

user avatarGiorgi Kostiuk

10 minutes ago

Ethereum Holders Face Liquidation, Ethena’s Strategy Succeeds, and BlockDAG’s Progress Shines

ETH holders brace for liquidation risks amidst Ethena’s strategy success and BlockDAG’s DeFi innovations.

user avatarGiorgi Kostiuk

11 minutes ago

BlockDAG Raises $5M in 48 Hours Amid MOVE and CRO Surge

BlockDAG secures $5M in 48 hours, remaining the leader while MOVE and CRO show growth following recent events.

user avatarGiorgi Kostiuk

11 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.