{"id":32156,"date":"2023-11-11T13:03:17","date_gmt":"2023-11-11T13:03:17","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/11\/11\/terra-luna-classic-proposal-to-stop-ustc-minting-passed-lunc-up-18-and-luna-33\/"},"modified":"2023-11-11T13:03:18","modified_gmt":"2023-11-11T13:03:18","slug":"terra-luna-classic-proposal-to-stop-ustc-minting-passed-lunc-up-18-and-luna-33","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/11\/11\/terra-luna-classic-proposal-to-stop-ustc-minting-passed-lunc-up-18-and-luna-33\/","title":{"rendered":"Terra Luna Classic Proposal To Stop USTC Minting Passed, LUNC Up 18% And LUNA 33%"},"content":{"rendered":"

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The Terra Luna Classic neighborhood has unanimously handed the proposal to disable USTC minting and reminding by elevating Tobin tax to 100%. The neighborhood and builders are making a number of efforts to repeg USTC, finally serving to the revival of the Terra Luna Classic chain and LUNC token. LUNC, USTC, and even LUNA witnessed a rally within the final 48 hours.<\/p>\n

Terra Luna Classic Community Passes USTC Minting Proposal<\/h2>\n

Proposal 11868 \u201cFulfill prop #11784 by disabling USTC minting via raising Tobin tax to 100%\u201d aimed toward stopping the minting and reminting of USTC.<\/p>\n

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\u201cThe only minting of USTC currently happening on chain is through the market module, which allows burning a coin to mint another.\u201d<\/p>\n<\/blockquote>\n

After the 2022 Terra-LUNA disaster, the mechanism was disabled stopping swapping from and to LUNC by the market module. This will successfully disable all market swapping and such minting of cash on Terra Classic. Users won’t be able to swap between USTC and different stablecoins, which may also disable USTC burn with swaps.<\/p>\n

The proposal is not going to impression swapping cash by DEXes like Terraswap. This continues to be doable for present pairs.<\/p>\n

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The proposal obtained 98.95% votes in favor, with majority assist from prime validators. Among the 55 validators who voted, 50 voted \u201cYes\u201d. This contains validators reminiscent of Allnodes, Interstellar Lounge, HappyCattyCrypto, Interstake One, JESUSisLORD, and others, turning into the primary proposal to obtain unanimous assist from validators in months.<\/p>\n

Read More: Terra Luna Classic (LUNC) Price Rally 18% After This Binance\u2019s Announcement<\/a><\/strong><\/p>\n

Terra Ecosystem Tokens Rally<\/h2>\n

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LUNC worth jumped 18% up to now 24 hours, with the worth at the moment buying and selling at $0.000084. The 24-hour high and low are $0.0000703 and $0.0000963, respectively. Furthermore, the buying and selling quantity has elevated by 300% within the final 24 hours, indicating curiosity amongst merchants.<\/p>\n

USTC worth trades at $0.014, up 15% up to now 24 hours. The 24-hour high and low are $0.012 and $0.017, respectively. The buying and selling quantity has additionally jumped considerably.<\/p>\n

LUNA worth climbed 33% up to now 24 hours, with the worth at the moment buying and selling at $0.73. The 24-hour high and low are $0.55 and $0.87, respectively. Furthermore, the buying and selling quantity has elevated by 300% within the final 24 hours, indicating curiosity amongst merchants.<\/p>\n

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