{"id":386214,"date":"2024-04-22T03:30:43","date_gmt":"2024-04-21T22:00:43","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=386214"},"modified":"2024-04-21T19:14:18","modified_gmt":"2024-04-21T13:44:18","slug":"terra-says-yes-to-crucial-proposals-how-about-lunc","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/terra-says-yes-to-crucial-proposals-how-about-lunc\/","title":{"rendered":"Terra says \u2018yes\u2019 to crucial proposals: How about LUNC?"},"content":{"rendered":"<ul>\n<li><em>Most validators on the network agreed to pass the 12094 and 12095 proposals<\/em><\/li>\n<li><em>LUNC&#8217;s price increased, but it was not part of the top tokens on traders&#8217; radar.<\/em><\/li>\n<\/ul>\n<p>With only a few days left to vote, the <a href=\"http:\/\/ambcrypto.com\/predictions\/terra-luna-price-prediction\" target=\"_blank\" rel=\"noopener\">Terra Classic [LUNC]<\/a> community could be set to pass two new proposals.<\/p>\n<p>According to AMBCrypto&#8217;s findings, the first proposal involved the decrease of the Maximum Block Size.<\/p>\n<p>A block size is the amount of space required to process transactions and store data. At press time, the maximum block size on the Terra network was 5 MB.<\/p>\n<p>So, the <a href=\"https:\/\/validator.info\/terra-classic\/governance\/12094\" target=\"_blank\" rel=\"noopener\">proposal<\/a> was to decrease the size to 2 MB to avoid peer-to-peer spam.<\/p>\n<h4>Is unity in Terra&#8217;s land?<\/h4>\n<p>From the voting data, 99.87% of the populace agreed to the plan.\u00a0 But a minute 0.13% rejected the scheme. As it stands, the proposal might hit the implementation stage as early as the 23rd of April.<\/p>\n<figure id=\"attachment_386222\" aria-describedby=\"caption-attachment-386222\" style=\"width: 1439px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize.png\"><img decoding=\"async\" class=\"wp-image-386222 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize.png\" alt=\"LUNC proposal to reduce block size\" width=\"1439\" height=\"446\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize.png 1439w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize-300x93.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize-1024x317.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize-768x238.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-voting-blocksize-1200x372.png 1200w\" sizes=\"(max-width: 1439px) 100vw, 1439px\" \/><\/a><figcaption id=\"caption-attachment-386222\" class=\"wp-caption-text\">Source: Validator Info<\/figcaption><\/figure>\n<p>Another proposal that the community seemed to agree on was the one to 10x gas fees. For Terra Luna Classic, the low gas fees open the network to an increased threat of spam attacks.<\/p>\n<p>But if it is increased from the current 3.74 LUNC, the network would have enough resources to fight attacks. As of this writing, 70.36% of the validators <a href=\"https:\/\/validator.info\/terra-classic\/governance\/12095\" target=\"_blank\" rel=\"noopener\">clicked<\/a> yes to gas increase.<\/p>\n<p>On the other hand, 29.64% do not want the proposal implemented.<\/p>\n<p>Going by the data provided, both the block reduction and gas increase might get a pass unless something unexpected happens.<\/p>\n<figure id=\"attachment_386224\" aria-describedby=\"caption-attachment-386224\" style=\"width: 1439px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase.png\"><img decoding=\"async\" class=\"size-full wp-image-386224\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase.png\" alt=\"LUNC proposal to increase gas fees\" width=\"1439\" height=\"463\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase.png 1439w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase-300x97.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase-1024x329.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase-768x247.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/gas-fees-lunc-increase-1200x386.png 1200w\" sizes=\"(max-width: 1439px) 100vw, 1439px\" \/><\/a><figcaption id=\"caption-attachment-386224\" class=\"wp-caption-text\">Source: Validator Info<\/figcaption><\/figure>\n<p>Following the development, the price of LUNC increased. At press time, the token changed hands at $0.00010, representing an 8.97% increase in the last 24 hours.<\/p>\n<h4>All is not well with LUNC<\/h4>\n<p>This <a href=\"http:\/\/ambcrypto.com\/lunc-price-surges-10-in-24-hours-but-predictions-foretell-a-reversal\/\" target=\"_blank\" rel=\"noopener\">price rise<\/a> could be a sign that the community was optimistic about the impact of the implementation on the project. However, on-chain data showed that development activity on the network was down.<\/p>\n<p>As of the 26th of March, the metric was 7.12, suggesting that Terra Classic shipped out more features for its users.<\/p>\n<p>But at press time, development activity was <a href=\"https:\/\/app.santiment.net\/charts\/ZVOsGNtQ__sCl\" target=\"_blank\" rel=\"noopener\">down<\/a> to 2.21, indicating that public GitHub repositories were lower.<\/p>\n<p>Moving on, this metric could improve as the proposal neared the potential deployment phase. Apart from the development activity, social volume was another metric that dropped.<\/p>\n<p>According to AMBCrypto&#8217;s analysis, LUNC&#8217;s Social Volume was down to a reading of 18. This metric tracks the rate at which the market is searching for a token.<\/p>\n<figure id=\"attachment_386229\" aria-describedby=\"caption-attachment-386229\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data.png\"><img decoding=\"async\" class=\"size-full wp-image-386229\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data.png\" alt=\"LUNC's falling development activity and social volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/04\/terra-lunc-development-and-social-data-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-386229\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Is your portfolio green? Check out the <a href=\"http:\/\/ambcrypto.com\/calculator\/profit\" target=\"_blank\" rel=\"noopener\">LUNC Profit Calculator<\/a><\/p>\n<hr \/>\n<p>If the metric jumps, then the arbitrary text search is increasing. But here, the decline implies that market participants were looking at other cryptocurrencies, and LUNC did not get as much attention.<\/p>\n<p>However, the low social volume might be a good thing for traders watching LUNC. If history were to repeat itself, the price might <a href=\"http:\/\/ambcrypto.com\/lunc-why-predictions-are-pointing-towards-a-price-rally\/\" target=\"_blank\" rel=\"noopener\">climb higher<\/a> as the dwindling attention suggested that the token was not near its top.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If implemented, the block size reduction and gas fees increase may help the network fight spam attacks.<\/p>\n","protected":false},"author":72,"featured_media":386243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4,5825,6371,20],"tags":[6427],"class_list":["post-386214","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-news","category-social","category-stablecoins","category-terra-luna-classic","category-trading-view","tag-ambcrypto"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Terra says \u2018yes\u2019 to crucial proposals: How about LUNC? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"With only a few days left to vote, the Terra Classic [LUNC] community could be set to pass two new proposals. 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