The Terra Luna Traditional neighborhood voted in favor of a crucial proposition to establish dynamic minimal commissions for validators who rely on voting authority. A proposal to further the decentralization and safety of the Terra Luna Traditional community has received universal approval from the validators of the LUNC community.
The proposal by StrathCole and HappyCattyCrypto for a “Dynamic Minimal Fee based mostly on Voting Energy” (Proposal 11738) has been approved based on the current vote total.
Enhancing the Community
In an unexpected turn of events, validators have expressed support for the idea that it might affect their commissions. The amendment passed the “move threshold” with 84 percent of the vote. There were 6% of “Abstain” votes and 10% of “No” votes.
Additionally, out of the 44 validators present, 36 “Sure” votes were cast in favor of the governance. In an effort to address the problem of centralized voting within the Terra Luna Traditional society, the idea was developed. It ought to increase the community’s inherent adaptability, safety, and decentralization. Now, validators with fewer votes could offer more appealing fee charges.
The neighborhood’s approval of a 5% minimal fee proposal to boost validators on the chain and pay validators made the governance voting even more decentralized. However, compared to before, powerful validators have centralized their vote far more.
According to information from CMC, the prices of LUNC and USTC, two tokens that are part of the Terra Luna Traditional ecosystem, fell by roughly 23% and 20%, respectively, over the past month. Recent price declines in LUNC and USTC can be attributed to the cryptocurrency market’s massive advertising.