this Terra Community and has not slackened its efforts to revitalize LUNC and USTC tokens And take them back to the glory days of yesteryear. This time, the community has put forward a proposal to ensure that the circulating supply data of Luna Classic (LUNC) is well-documented.
The Terra community proposes to make all nodes official organizations
this text proposal Titled “Change official CS API endpoint to Allnodes FCD” the goal is to make Allnodes the official organization of the Terra community. Allnodes will be responsible for hosting the endpoints and providing the correct loop provisioning data Luna Classic”. The proposal also aims to get community members to agree on how circulating supply will be calculated.
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also, proposal Highlighted why such an organization was appointed full node has become necessary. It noted that in the absence of a designated person or organization to provide such circulating supply data, it is possible for anyone to alter this data, which “could be harmful to the chain.”The proposal also includes that such unauthorized changes can generally be made without notice Developervalidator or community member
Therefore, it is crucial to designate an “official source” like Allnodes, which will be the go-to platform for obtaining correct information on the circulating supply of LUNC.In order to achieve this, all nodes will be required to update to the latest FCD version that implements the agreed computer Supply of LUNC.
Calculation method of LUNC circulating supply amount
The proposed calculation method Circulating supply of LUNC Unvested tokens, community pool holdings, and pledged and pledged tokens are deducted from the total supply. Previously, it was said that LUNC’s circulating supply was calculated by deducting unvested tokens, community pool holdings, and allocated bank accounts from the total supply. The previous calculation causes LUNC to be treated differently than all other native tokens.
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At the same time, the proposal states that the circulating supply within FCD must not change without a governance vote.If approved, the Allnodes FCD API will also serve as an official source of information USTC and all other native tokens Except Luna Classic. As long as the proposal is approved, all nodes have agreed to assume this role.
Interestingly, data Judging from Galaxy Station (where the proposal was made), Allnodes haven’t voted on it yet. at the same time, Twelve validators One validator voted yes, one validator voted no, and another validator voted no and has veto power.
Only 5.46% of authorized voters cast their votes, meaning that the 40% quorum required for the proposal to pass was far from reached.Voting closes on May 19th, though, so there’s still plenty of time Proposed to pass.
Featured images from Coin Edition, charts from Tradingview.com
