๐ Terra Luna Classic Approves Crucial Proposal
The recently approved proposal, led by BLV #labs , aims to enhance the governance (GoV) module. The latest proposal update shows that the team, which consists of three experienced members from the #Cosmos ecosystem, focuses on addressing challenges faced while submitting proposals in the #TerraLunaClassic blockchain.
The main challenge is the deposit for creating proposals on the blockchain, which is currently set at 5 million LUNC, does not account for the price volatility. In other words, when the #LUNCโ price fluctuates, the deposit amount may either become too low or too high, which causes problems in maintaining the proposalsโ value.
However, to avoid this, BLV Labs proposes to use the Oracle module. It will help in automatically adjusting the required deposit amount based on the current $LUNC price while ensuring a stable value of $500.
In addition, it is also expected to stop bad actors from spamming the network with proposals when the tokenโs price slumps drastically. In other words, it will aid in maintaining the integrity of the networkโs governance process by stabilizing the depositing value.
Meanwhile, the approval of this proposal, with more than 85% votes cast in favor, reflects the communityโs interest in it. In addition, many have speculated that it will help boost LUNC price while creating a more secure and efficient ecosystem.