The LUNC Community’s Resounding Approval Of Proposal 12033 Marks A Pivotal Moment In The Evolution Of Terra Luna Classic

Terra Luna Classic made a groundbreaking decision by overwhelmingly supporting and approving Proposal 12033, which imposes mandatory Know Your Customer (KYC) procedures for all L1 developers. This move aims to improve the security and integrity of the blockchain, eliminating previous vulnerabilities associated with the creation of anonymous code.

The proposal, initiated by the SolidVote LUNC Validator, represents a collective commitment to tighten security measures in the blockchain ecosystem. One of the most important aspects of the proposal is to ensure compliance with KYC procedures for all Level 1 (L1) developers. Previously, the lack of KYC requirements allowed code to be created on-chain without any accountability, which posed a potential threat to the entire ecosystem. The approval of this proposal ensures that every L1 developer undergoes the necessary KYC procedures, reducing the risk of unauthorized entry and increasing the overall security of the blockchain.

LUNC has been trading bearishly over the past 24 hours. At the time of writing, LUNC is trading at $0.00010864. The 24-hour low and high are $0.0001071 and $0.000111 respectively. USTC’s price also jumped following the proposal’s acceptance, rising 3.59% in the last 24 hours. At the time of writing, USTC is trading at $0.0287284. The 24-hour low and high are $0.02535 and $0.02631 respectively.

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