🟡 $LUNC Community Divided Over Controversial USTC Proposal

The Terra Luna Classic (LUNC) community is grappling with internal conflict as a prominent validator fiercely opposes a newly proposed strategy

The Terra Luna Classic (LUNC) community is heating up as a prominent validator fiercely opposes a newly proposed strategy to revitalize the struggling stablecoin, USTC, while another validator is rallying support for the initiative.

As reported by MrDiamondhandz, a well-known validator who operates LuncLiveOrg, he has voiced strong opposition to the LUNC Dash Proposal. This proposal aims to reshape the future of USTC (TerraUSD Classic) by repositioning it to improve its market relevance and mitigate regulatory challenges.

It suggests rebranding TerraUSD (USTC) as Universal Standard Token Classic (USTC) to establish a new identity. The proposal also recommends reclassifying USTC as a memecoin, acknowledging its current market dynamics, while retaining the original USTC ticker for brand recognition.

Furthermore, the proposal proposes forming a special response team that can intervene quickly in emergencies without waiting for full governance approval. This measure is intended to enable rapid action in unforeseen circumstances.

However, MrDiamondhandz, a longstanding member of the LUNC community, expressed his disdain for the current proposals up for vote. In a post on X (formerly Twitter), he described them as “the worst I’ve ever seen.”

According to MrDiamondhandz, certain groups are trying to seize control of the blockchain and become gatekeepers, a move that he deeply resents. He asserted that these individuals have been pursuing their own agenda from the outset.

Just when I thought they couldn’t get any DUMBER they have outdone themselves.Now the SAME LUNC people want to take money from the community pool and inject it into their dexes that have TERRIBLE, low volume, so they can syphon it out the back door. NO! #Crypto

Despite the strong opposition, the proposal has elicited mixed reactions within the community. It currently stands at 39.41% approval, 7.95% opposition, and 25.47% votes marked as “No with veto.”

With a voter turnout of 28.95%, it falls short of the 40% quorum required for passage. As the voting period progresses, it remains to be seen whether the proposal will garner sufficient support to be implemented.