- The proposal was approved with a 99.98% acceptance rate on June 3, 2024.
- An overwhelming majority of the voting power—84.2 billion votes—was exercised.
There has been tremendous support for the Genuine Labs Community Spend Proposal from the Terra Luna Classic (LUNC) community. Nearly no one voiced opposition to the proposal, and it was approved with a 99.98% acceptance rate on June 3, 2024. It is anticipated that this vote will have a major impact on where the Terra Luna Classic network goes from here.
Moreover, Terra Luna Classic has reached a turning point with the community’s support of the plan to grant 256,410,256 LUNC for development projects. Ecosystem innovation and sustainability are the goals of this fund.
Strategic Direction
An overwhelming majority of the voting power—84.2 billion votes—was exercised because of the high voter turnout. The community’s great interest and faith in Genuine Labs’ strategic direction for the platform is highlighted by this vigorous participation.
In addition, the consensus on this matter is indicative of a general sense of optimism over the potential for the network to be enhanced. Support from the community shows that they believe in the platform’s future and are open to its possibilities for growth. Giving developers the green light to work on projects that add new features and enhance the ecosystem as a whole is why this kind of support is so important.
The Terra Luna Classic community, on the other hand, recently shot down Proposal 12105, an initiative to raise the LUNC burn tax. Some felt that the concept lacked logic and needed a specific strategy to be put into action.
Consequently, it failed to pass with a mere 21.35 percent approval; 32 percent were completely opposed, and 38 percent voted “No with a veto,” showing their determination to stop it in its tracks.
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