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Over 55% of voters supported the proposal that included the impossibility of minting and re minting of USTC without the approval of the Terra Classic community. Terra Classic will no longer be able to mint new TerraClassicUSD (USTC) stablecoins without the approval of the Terra Classic community. According to data from ATOMScan, more than 55% of voters were in favor of the #11784 proposal. “We pay the Algo Quant team to re-peg USTC to USD, and the Terra Classic community is participating in the burning of the USTC supply, which also facilitates the re-peg.” The Terra Classic community The proposal’s description also claims the upgrade should fix loopholes such as converting xUST to mint USTC in an effort to achieve the repeg . The proposal is said to “protect the community and outside investors who are burning USTC,” trying to achieve the repeg , more than a year after the stablecoin imploded. The 11784 voting scheme | Source: ATOMScan ...

Join Our Telegram channel to stay up to date on breaking news coverage Two of the best cryptocurrency traders predicted the bull run would finish on the day the value of Terra Classic (LUNC) hit its peak in 2022, and they proved right. Since that day, from September 8th, the price of LUNC on Binance has fallen by approximately 50%, trading as of mid-October just under the $0.0003 trend line. Light Crypto: Terra LUNA Classic Price Prediction A Twitter handle with more than 169k followers (@lightcrypto) tweeted: “Think about the crash of the LUNC burn trade.” The broken momentum was noted. Elevator failure is a major likelihood. GCR (@GiganticRebirth), who already has 187,000 followers, responded with just a Hillary Clinton quote from his covert account, “That’s right, zero.” In March, GCR notably prevailed in a $10 million wager against former Terraform Labs CEO Do Kwon by predicting a decline in the price of Terra LUNA. A few days later, Light, ...

Join Our Telegram channel to stay up to date on breaking news coverage According to recent sources, Binance, the largest cryptocurrency exchange in the world, has implemented a new burn mechanism for the Luna Classic (LUNC) coin, which was initially utilized for the Terra chain. What remains to be seen after the next burn is how high LUNC can go. Luna Classic Continues To Rise The value of Luna Classic’s token soared by over 68% in one day after Binance’s original statement on the token burn mechanism for Luna Classic on September 26. More than doubling in value in only six days, the token went from a low of roughly $0.00018 on that day to over $0.00037 on October 2. Binance sends the trading fees it collects from LUNC spot and margin trading pairs to the LUNC burn address, where they are destroyed. The discussion implies that the regular Tuesday schedule will continue “until further notice.” As of Tuesday, October 11 at 00:00 UTC, the following fire w...