LUNC Community Rejects KYC Proposal, Sparks Optimism for LUNA and USTC Surge
LUNC community has recently voted to repeal a proposal that would have required KYC (Know Your Customer) verification for developers working on the blockchain. The decision to repeal the proposal comes after concerns were raised that the KYC requirements could stifle growth and innovation within the Terra Classic ecosystem.
The debate around the KYC proposal has been a significant focus for the LUNC community in recent weeks, with some members arguing that it would increase security and trust within the network, while others maintained that it would create unnecessary barriers for developers and hinder the project’s progress.
The outcome of the vote indicates that the majority of the community believes that repealing the KYC proposal is in the best interest of the Terra Classic ecosystem. The hope is that by removing this requirement, developers will be more inclined to contribute to the project and help drive innovation and growth.
the decision could be seen as a positive sign for the community’s commitment to fostering an open and accessible environment for developers, which may in turn generate positive sentiment and increased interest in the Terra Classic project.
This could potentially lead to a rally in the prices of LUNC and USTC, although it is important to remember that cryptocurrency markets are highly volatile and influenced by a wide range of factors.
LUNC Terraform Labs co-founder and CEO, Do Kwon, who faced multiple fraud charges related to allegedly hiding risks associated with investing in the in-house tokens by Terraform Labs, has been released on bail by a court in Montenegro. This development comes after his arrest on March 23
The Terra Classic (LUNC) community has been closely monitoring the situation.
Here are some recent updates:
Terra Classic’s Squeeze Teases 2024’s Biggest Move: The price of Terra Classic (LUNC) has been a topic of interest. Some believe it’s poised for significant movement in 2024
Big v2.4.2 Upgrade Proposal Unanimously Passed: Terra Luna Classic (LUNC) recently underwent a major upgrade, which was unanimously approved. Additionally, LUNC has been listed on new futures platforms.
LUNC Price and Market Trends: The value of LUNC experienced an 8% drop following reports of Do Kwon’s arrest in Montenegro. The situation has drawn attention from investors and crypto enthusiasts.