LUNC, USTC Nosedive After Burn Proposal Rejection
Terra Luna Classic (LUNC)’s price has retraced in the last 24 hours following the community’s rejection of a burn proposal of 800 million USTC.
The proposal, numbered 11927, aimed to burn a significant amount of USTC in the Risk Harbor multisig wallet, which was crucial due to the loss of keys. However, the proposal received only 30% support, with 11% opposing and 15% opting for a veto. A significant 44% of the votes were abstentions, highlighting the complexity of decision-making on decentralized finance platforms. The decision has sent ripples through the cryptocurrency market.
(With inputs from Shikha Singh)
You need to login in order to Like
