Terra Classic Community Mulls Hike in Minimum Deposit to Counteract Spam

Members of the Terra Classic platform are currently deliberating multiple proposals, one of which directly addresses the recent surge in spam submissions, correlating with a drop in Luna Classic (LUNC) prices. A key proposal on the table proposes a fivefold increase in the minimum deposit requirement - from the current 1 million LUNC to 5 million LUNC. This initiative, tagged as Proposal 11780, is aptly titled “Strategizing Against Spam Proposals with a 5M LUNC Deposit Raise.” The intent behind the proposal is clear: to set up a more substantial barrier preventing frivolous and scam-oriented proposals from reaching the voting stage within the Terra Classic framework.

Notably, Hexxagon, the team behind the community-driven Station wallet, has reported witnessing a considerable rise in such spam submissions. Current voting stats show a division in opinion - 34% in favor, a majority 64% against, and a small faction of 2% siding with a "No with veto" stance. Noteworthy supporters of the proposal include key validators such as Hexxagon, Lunanauts, and Coinpayu.

While these discussions are ongoing, there's simultaneous anticipation for the v2.2.1 core upgrade from Terra Classic developers, slated for September 12. Parallelly, efforts are being made by the TerraUSD Classic (USTC) analytics team to engage with mainstream exchanges to recalibrate the USTC's peg.

Trading patterns reveal that both LUNA and LUNC are witnessing a positive uptrend in trading volumes. LUNA, under the stewardship of Terraform Labs, has registered an impressive 5% growth in just the past seven days. On the other hand, LUNC's price is showing positive signs, likely influenced by the upcoming core enhancement by its dedicated developer brigade.

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