Terra Luna Classic Community Holds Revote on USTC Quant Funding Proposal

One sentence summary – The Terra Luna Classic community is currently revoting on Proposal 11730 to secure funding for the USTC Quant team, after the initial vote failed due to technical issues with the Terra Station wallet, with concerns raised by a validator about unprofessional and dangerous behavior associated with the proposal.

At a glance

  • The Terra Luna Classic community is revoting on Proposal 11730.
  • The proposal aims to secure funding for the USTC Quant team.
  • The initial vote failed due to technical issues with the Terra Station wallet.
  • The revote is scheduled from August 26 to September 2.
  • The outcome of the vote will determine the future direction of the project and its tokens.

The details

The Terra Luna Classic community is currently in the process of revoting on Proposal 11730.

This proposal is designed to secure funding for the USTC Quant team.

The initial vote on the proposal failed to gather enough support due to technical issues with the Terra Station wallet.

As a result, the proposal has been resubmitted for a revote.

The voting period for Proposal 11730 is scheduled to take place from August 26 to September 2.

The main aim of resubmitting the proposal is to ensure a proper validator voting turnout.

This is now possible as the Terra Station wallet is functioning correctly.

Hexxagon, a key participant in the process, paid the remaining balance to bring the proposal to the governance voting stage on Station.

In the initial voting round, the proposal received 43% “Yes” votes, 28% “No” votes, and 29% “No with veto” votes.

Out of the 15 validators, 9 were in favor of the proposal while 6 rejected it.

One validator, JESUSisLORD, voted “No with veto”.

JESUSisLORD cited concerns about unprofessional and dangerous behavior associated with the proposal.

The USTC Quant team, which had been blamed for the previous rejection, accused certain validators of altering the outcome.

Following the resubmission of the proposal, LUNC and USTC tokens experienced a slight recovery.

However, overall momentum remains low.

As of now, the LUNC token is trading at $0.000063.

This reflects a 1% increase in the last 24 hours.

Similarly, the USTC token has witnessed a 0.5% price surge within the same time frame.

This surge was accompanied by a decrease in trading volume.

The revote on the funding proposal for the USTC Quant team is of significant importance to the Terra Luna Classic community.

The outcome of this vote will determine the future direction of the project and its associated tokens.

Article X-ray

Here are all the sources used to create this article:

A group of people gathered around a ballot box, casting their votes on a funding proposal.

This section links each of the article’s facts back to its original source.

If you have any suspicions that false information is present in the article, you can use this section to investigate where it came from.

coingape.com
– The Terra Luna Classic community is revoting on a proposal to fund the USTC Quant team after the initial proposal failed to receive enough votes.
The USTC repeg team has resubmitted the proposal due to issues with the Terra Station wallet.
– Proposal 11730 is up for voting from August 26-September 2.
The proposal is being resubmitted to ensure proper validator voting turnout now that the Terra Station wallet is working again.
– Hexxagon paid the remaining balance on the proposal to get it to the governance voting stage on Station.
The proposal received 43% “Yes” votes, 28% “No” votes, and 29% “No with veto” votes in the initial voting.
– 9 validators favored the proposal, while 6 rejected it.
– JESUSisLORD validator voted “No with veto” citing unprofessional and dangerous behavior.
The proposal was previously rejected by the community, but the USTC Quant team blamed some validators for changing the outcome.
– LUNC and USTC tokens recovered slightly after the proposal was resubmitted, but overall momentum is still low.
– LUNC price is currently trading at $0.000063, up 1% in the last 24 hours.
– USTC price also increased by 0.5% in the past 24 hours, with decreased trading volume.

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