Luna Classic Community Rejects Validators Commission Proposals
The Luna Classic community has dismissed two proposals aimed at imposing a minimum validator commission. The initial proposal, known as Proposal 11853, sought to enforce a minimum 5% validator commission.” It aimed to implement a minimum validator commission of 5% as some validators still have are below the mandatory 5% commission., while the subsequent proposal, Proposal 11614, aimed for a minimum validator commission of 2.5%.
In both instances, the community rejected these proposals with a majority vote against them. Proposal 11853 garnered 37% of votes in favor and 52% in opposition, while Proposal 11614 received 42% of votes in favor and 54% against it.
Possible Reason for Rejection
Some community members may have been apprehensive about these proposals, believing that they could potentially grant too much authority to validators. They may have feared that this increased power could have a negative impact on the overall health and decentralization of the Luna Classic ecosystem.
The rejection could also reflect a perspective that imposing minimum commission requirements might not align with the long-term sustainability and health of Luna Classic. Some may argue that such measures could stifle innovation and flexibility within the ecosystem.
In addition, few community members may believe that the proposals were unnecessary, as the current market forces are already incentivizing validators to charge commissions.
Roadmap for Validators
Unlike the rejection of minimum validator commissions, Terra Luna Classic’s core developer L1TF has given the green light for the Dyncomm module, which allows for dynamic validator commissions.
This new feature is set to be tested on the rebel-2 testnet next week, with the testing phase expected to begin around November 7. The development of dynamic validator commissions will be overseen by former L1TF developer Fragwuerdig. Once thorough testing is completed, Dyncomm will be introduced to the columbus-5 mainnet.
Luna Classic Performance
Luna Classic has been trading above $0.000060 for the last couple of days. In the last 24 hours, LUNC price fell around 3% and the price is expected to be within the range of $0.000060 and $0.000065 for the next 24 hours.