The Terra community is considering two important proposals that could shape the future of the Terra Classic ecosystem.
Proposals Under Consideration
- Reduce Maximum Block Size: This proposal aims to reduce the maximum block size from 5 MB to 2 MB to prevent spam and improve network stability.
- Increase Gas Fees: This proposal suggests increasing gas fees by 10x to deter future attacks.
Voting Process
The voting process is ongoing, with only one day and one hour remaining.
Maximum Block Size Reduction:
- 99.88% of community members and validators have voted in favor.
- Only 0.11% have voted against.
Gas Fee Increase:
- 59.99% have voted for approval.
- 27.77% have voted against.
LUNC Price Surge
The community’s positive outlook on the proposals has led to a surge in LUNC’s price, with an increase of over 10% in just a day. However, trading volume has declined by 44.9% in the past 24 hours.
Cautious Optimism
Despite the price surge, some metrics remain bearish, including a decline in developmental activities and social volume. LUNC’s price has also experienced a reversal, trading at $0.00011 at the time of writing.
