- Terra Luna Classic community rejects proposals to introduce Ethereum Virtual Machine (EVM) support and increase the validator count to 130.
- Key validator Allnodes, holding significant voting power, voted ‘No’ on both proposals, impacting the outcome and future of Terra Luna Classic.
Unexpected Turn of Events: Proposals Meet Resistance
The Terra Luna Classic (LUNC) community faced a setback as two crucial proposals aimed at enhancing the blockchain’s utility and security were rejected. Despite initial support, the tide turned against the proposals, thanks to significant opposition from Allnodes, a top validator with a substantial 15% voting power, and other validators.
Proposal 11978: The EVM Integration Debate
Proposal 11978, which sought to investigate the feasibility of integrating Ethereum Virtual Machine (EVM) functionality into the LUNC chain, came close to approval. However, a surge of ‘No’ votes in the eleventh hour led to its rejection. The proposal’s defeat was a significant blow, as EVM integration could have vastly expanded Terra Luna Classic’s capabilities, bridging the gap between the programmability of Ethereum and the sovereignty of the Cosmos ecosystem.
Allnodes, in their opposition memo, expressed concerns over the potential costs associated with research, development, and long-term maintenance of EVM support, calling for a more thorough assessment before committing funds.
Proposal 11966: Validator Expansion Controversy
Similarly, Proposal 11966 aimed to restore the validator list to 130, thereby strengthening the network’s decentralization and robustness. This proposal, too, faced resistance, particularly from Allnodes, resulting in a majority of ‘No’ votes.
Validators who supported the proposal argued for its importance in ensuring network decentralization and security. However, the opposition, led by influential validators like Allnodes, cast doubt on the immediate necessity of such a move, leading to its failure.
Market Reaction: LUNC and USTC Prices
Following the rejection of these proposals, the LUNC price saw a modest increase, while USTC’s price experienced a more significant jump. This market response suggests a mixed reaction from traders and investors to the latest developments within the Terra Luna Classic ecosystem.
The Road Ahead for Terra Luna Classic
The rejection of these key proposals marks a cautious approach by the Terra Luna Classic community and its validators towards significant changes. It underscores the importance of balancing innovation with practical considerations such as cost and network stability. As Terra Luna Classic navigates its future, the decisions made now will crucially shape its path in the rapidly evolving blockchain landscape.