Terra Classic (LUNC) has recently witnessed a surge in spam proposals, prompting the ecosystem to introduce a new proposal aimed at curbing these issues. This strategic move comes on the heels of an impending blockchain network upgrade. With the decline in LUNC's value, the existing 1 million LUNC deposit requirement has proven ineffective in deterring spam proposals. Consequently, a fresh proposal has been tabled, suggesting an increase in the minimum deposit to 5 million LUNC as a proactive measure against spam.
Presently, more than 90% of the votes cast support the new proposal, with only 8.8% opposing it, indicating a probable passage of the proposal. The voting window will remain open until September 16, 2023.
Not that those who put deposits down in Terra Classic’s community gain the privilege to submit proposals and participate actively in the governance of the blockchain.
This proposal coincides with the upcoming core upgrade, known as v2.2.1, scheduled for deployment on September 12, 2023.
During this update, the blockchain will undergo a temporary halt at block height 14,514,000, necessitating validators to implement the new binary.
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