The Genuine Labs Community Spend Proposal has received overwhelming support from the Terra Luna Classic (LUNC) community, resulting in a remarkable 99.98% acceptance rate on June 3, 2024. This resounding approval is expected to significantly impact the future trajectory of the Terra Luna Classic network.
The community’s endorsement of the plan to allocate 256,410,256 LUNC for development projects signifies a pivotal moment for Terra Luna Classic. The fund aims to foster ecosystem innovation and sustainability.
The staggering number of votes cast—84.2 billion—reflects the community’s unwavering interest and confidence in Genuine Labs’ strategic direction for the platform. It is a testament to their optimism and belief in the network’s potential for growth. This overwhelming participation underscores the importance of granting developers the opportunity to work on projects that enhance the ecosystem and introduce new features.
In contrast, Proposal 12105, which sought to increase the LUNC burn tax, faced opposition from the Terra Luna Classic community. Many felt that the concept lacked logical reasoning and required a more specific strategy for implementation. Consequently, the proposal failed to pass, with a mere 21.35% approval rate. 32% of voters were completely opposed to it, while 38% voted “No with a veto,” demonstrating their determination to halt its progress.
In other crypto news today, the Shiba Inu (SHIB) team has issued a warning to investors regarding the rising threat of scams. It is crucial for investors to exercise caution and be aware of potential fraudulent activities in the market.
