Terra Classic Votes On 800 Million Burn For Another LUNC Rally

The Terra Luna Classic community votes on another proposal related to burning 800 million TerraClassicUSD (USTC). The proposal aims to burn funds from the Risk Harbor (formerly Ozone Protocol) multisig wallet through an update to Terrad client. It is similar to previous proposals on burning 800 million in the wallet, which was later blacklisted via a governance voting.

Terra Luna Classic Community Eyes 800 Million USTC Burn
Proposal 11913 “RH MultiSig Wallet – Burn 800m via Update to Terrad Client” is up for governance voting on the Station wallet. The new proposal aims to burn the 800 million USTC still in the Risk Harbor multisig wallet. The proposal deadline is December 19.

The community passed proposal 11832 to blacklist the wallet citing that “blacklisting allows for a reversible action, enabling fund recovery through governance if valid reasons are provided by the wallet owners.” However, the new proposal argues that no fund recovery via the wallet owners is possible and blacklisting serves no purpose anymore.

LUNC price is moving mostly sideways after a 22% fall in a week, with the price currently trading at $0.000175. The 24-hour low and high are $0.000170 and $0.000185, respectively. Moreover, trading volume has decreased by 57% in the last 24 hours.