Terra Luna Classic community proposes better governance amid revival plans

August 19, 2023 01:54 AM AEST | By Invezz

Terra Luna Classic community proposes better governance amid revival plans — Image source: Invezz

Proposal to relaunch Terra Classic

Terra Classic’s Happy Catty Crypto highlighted developmental milestones, including future implementations, mandatory security patches, and routine updates. The proposal seeks weekly payments for developers, upgrading the Terra Classic wallet, introducing voluntary KYC/KYD for enhanced security, and replacing the current on-chain tax.

The vision paper proposes weekly paid-per-milestone payments for Terra developers to incentivize project completion and boost transparency. That will attract dApp creators, translating to a flourishing platform. Also, it wants an in-built discussion platform into Terra Classic Wallet to eliminate individually controlled solutions.

Further, the platform targets heightened security by introducing a voluntary KYC policy. Professionals handling on-chain projects will undergo this verification to foster trust within the community.

Also, the proposal wants to introduce a dynamic approach to replace the 0.5% tax, which has “abused” taxation stability.

LUNC and USTC prices

LUNC price has lost more than 6% over the last 24 hours to $0.000062. The altcoin touched its daily high & low at $0.0000667 and $0.0000576, respectively.

Also, USTC plummeted 8% in that timeframe to its press time value of $0.012.

LUNC and USTC price tumbles match today’s bearish mood within the cryptocurrency market. According to invezz.com news, massive Bitcoin liquidations have contributed to the downside narrative in the digital assets space.

The post Terra Luna Classic community proposes better governance amid revival plans appeared first on Invezz.

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