๐ŸŒ– 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 #LUNCโœ… 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 tokenโ€™s price slumps drastically. In other words, it will aid in maintaining the integrity of the networkโ€™s governance process by stabilizing the depositing value.

Meanwhile, the approval of this proposal, with more than 85% votes cast in favor, reflects the communityโ€™s interest in it. In addition, many have speculated that it will help boost LUNC price while creating a more secure and efficient ecosystem.

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