The Terra Classic (LUNC) community is at a crossroads after two important proposals aimed at boosting its use cases and safety were turned down. While the price went up unexpectedly, the underlying tensions within the community about the future of LUNC remain unresolved.
EVM Debate Sparks Controversy
Proposal 11978, which wanted to explore the possibility of adding Ethereum Virtual Machine (EVM) features to LUNC, narrowly missed approval. The top validator, Allnodes, which held 15% of the voting power, led the opposition, citing concerns about the costs of researching and maintaining this change.
#LUNC BREAKING NEWS
Allnodes, our biggest validator votes "NO" on proposal 11978 – (Signal Prop) Investigate EVM functionality.
MEMO:
"Even with a focus on a compiler only, the near-term cost for research and development, but also potential long-term maintenance cost remains… pic.twitter.com/OktoeCRPiK— 🧠 LunaClassicLabs.com (@LunaClassicLabs) January 17, 2024
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Supporters of EVM integration see it as a game-changer, as it would open up LUNC to a wide range of Ethereum-based applications and smart contracts. They believe this would greatly expand the ways LUNC can be used and attract new developers and investors.
However, opponents worry about losing LUNC’s unique identity and interoperability within the Cosmos ecosystem. They also emphasize the need for a clear plan and cost analysis before making such a big technological shift.
Divided Opinions on Validator Restoration
The fate of Proposal 11966, which aimed to increase the number of validators back to 130, also faced resistance. People like JESUSisLORD and HappyCattyCrypto see it as crucial for making the network more decentralized and stable.
However, Allnodes and others prioritize reducing the burden on developers and suggest different approaches. With only 30% “yes” votes and 49% “No” votes, the proposal has been put on hold, leaving the current validator structure in place.
#LUNC Proposal 11966
Restore Validator List to 130NO WITH VETO
Reason:
The discussion about the active set is important, but this proposal is selfish and unethical (Self-promotion in the proposal, No url link to the Commonwealth proposal, No previous discussion) pic.twitter.com/zzoUKpQjdE— 🧠 LunaClassicLabs.com (@LunaClassicLabs) January 14, 2024
This debate shows ongoing disagreements about the best way to govern Terra Classic (LUNC) in the future.
The “No’’ votes on this proposal reflect the divided opinion within the community about the ideal number and makeup of validators. Finding a balance between decentralization, efficiency, and security will be a key challenge for the LUNC community going forward.
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Unexpected Price Surge
Despite the rejection of these potentially transformative proposals, the prices of LUNC and USTC experienced a surprising increase. This could be due to a mix of factors, including short-term trading activity, speculation about future developments, and a general improvement in market sentiment.
The rejection of these proposals is a setback for those hoping for a quick revitalization of Terra Classic (LUNC). However, the ongoing discussions and engagement within the community show their commitment to finding a sustainable path forward.
It remains to be seen whether LUNC will embrace EVM integration or take a different approach. However, the choice made by the dedicated community is expected to shape the future of Terra Classic.
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