LUNA

Community rejects expanding validator set from 100 to 130. Settlement with U.S. SEC leads to validator dispute: $4.5 billion settlement sparks validator dispute over network decentralization. The Terra Luna Classic community has rejected a highly debated proposal to increase the validator set to 130 on the blockchain. This decision comes in the wake of Terraform Labs and Do Kwon’s agreement to settle with the U.S. SEC for $4.5 billion. According to updates shared in Today’s Coin Market Cap news, the…

The post Terra Luna Classic Witnesses 6.5B LUNC Burn Amid Large Wallet Movements appeared first on Coinpedia Fintech News Terra Luna Classic saw over 6.5 billion LUNC burned in the last 24 hours as large wallets sold LUNC tokens. The move comes after Terraform Labs’ CEO confirmed yesterday to burn LUNC and USTC they hold in their TFL and LFG wallets. The total burn by the community has now reached over 123 million LUNC with Binance being the top burner…

Terra Luna Classic community implements Tax2Gas, integrating burn tax into gas fees. Debates arise over increasing burn tax to 1.2% to potentially boost LUNC’s price. The Terra Luna Classic community has recently adopted proposal 12115, known as “Tax2Gas,” which integrates the burn tax directly into gas fees, simplifying transactions for developers and users. This change eliminates the need for manual calculation of the burn tax by decentralized application developers, enhancing user experience on the Terra Classic network. As detailed in…

The Terra Luna Classic community has passed proposal 12114, significantly revising the LUNC burn tax distribution. Over 98% of the community voted in favor, indicating strong support among key validators. The Terra Luna Classic community has decisively approved proposal 12114, aimed at revising the LUNC burn tax distribution. Authored by developer Till Z., known as Fragwuerdig, the proposal received a staggering 98.04% approval from the community. This strategic change is set to enhance staking rewards and improve long-term incentives for…

The post Terra Luna Classic (LUNC) Price Faces a Steep Uphill Ahead Following Historical US SEC Settlement  appeared first on Coinpedia Fintech News The Terra Luna Classic (LUNC) community has undergone a challenging period since the 2022 market capitulation, which wiped out over $30 billion in a single week. The historical fall of UST logarithmic stablecoins has haunted the Terra LUNC ecosystem despite rebranding to refreshed products in the recent past.  Moreover, the leadership of Do Kwon has largely been…

The post Terra Tokens Make A Move! LUNC And LUNA Tokens To Surge Amid SEC Settlement? appeared first on Coinpedia Fintech News Following the positive outcome of the 5th U.S. CPI data release yesterday, the crypto market experienced a strong bullish reversal with the market leader, Bitcoin price, adding approximately 5% to its portfolio. On the other hand, following the settlement news of Terra Labs and Do Kwon with the SEC, Terra tokens experienced strong bullish price action. However, during…

Terra Luna Classic plans a major revision of LUNC burn tax distribution to improve staking rewards. Initial price volatility expected as the community and markets respond to tax distribution changes. Following a previous update by CNF, the Terra Luna Classic community has shown robust support for Genuine Labs’ proposal, allocating over 256 million LUNC to it. This endorsement underlines the community’s readiness to adopt strategic changes aimed at enhancing the network’s value and functionality. Strategic Redistribution Proposal Recent updates from…

The post Luna Guard Moves 1.974M AVAX After SEC Settlement appeared first on Coinpedia Fintech News The Luna Foundation Guard reportedly moved a significant amount of cryptocurrency between 11:29 and 11:33 UTC+8. Specifically, 1.974 million AVAX, valued at approximately $71.2 million, was transferred to an unidentified address, “0x13…2e27.” This move has raised questions about the foundation’s financial strategies. Notably, this activity comes shortly after Terraform Labs and its co-founder Do Kwon settled a civil fraud case with the SEC.

The post LUNA Price Skyrockets Amid Terraform Labs’ Settlement with SEC appeared first on Coinpedia Fintech News Terraform Labs and its co-founder, Do Kwon, have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) in a civil fraud case. The SEC previously accused Terraform and Kwon of deceiving their investors about the stability of their products, which resulted in the collapse of their $40 billion ecosystem in May 2022. A recent court filing says a conference…