Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Terra Classic (LUNC) Community Stands Firm: Gas Fee Hike Proposal Hits a Wall
  • News

Terra Classic (LUNC) Community Stands Firm: Gas Fee Hike Proposal Hits a Wall

vivian 26 April 2024
Terra Luna Classic Lunc
  • Terra Classic’s Proposal 12095 aimed to hike gas fees by 10x to combat spam attacks but faced significant pushback, notably from validator Allnodes, over concerns about increased restake operation costs.
  • Ultimately, the proposal was rejected due to fears of its adverse impact on ecosystem growth, decentralized application support, and transaction execution costs, while the community remains focused on reviving LUNC’s price to $1 amidst ongoing efforts.

The Terra Classic network recently found itself at a crossroads with Proposal 12095, also known as the “10X Gas Fees” proposal, sparking a contentious debate within its community. Proposed on April 17, the initiative aimed to amplify Terra Classic’s gas fees tenfold, purportedly to curb spam attacks on the network. However, what ensued was a cascade of mixed reactions and ultimately, rejection.

Initially, Proposal 12095 garnered significant traction, with a considerable portion of the community voicing support for heightened on-chain fees. Notably, prominent validator Allnodes stood in opposition, citing concerns over increased restake operation costs. Their apprehensions echoed throughout the community, leading to a significant portion of validators voting against the proposal.

Ultimately, Proposal 12095 faced rejection, with a breakdown of votes revealing 44.83% in favor, 6.32% against, 35.31% in veto, and 13.54% abstaining. The aftermath of this decision was disseminated by community-driven accounts, shedding light on the rationale behind the rejection.

According to insights shared by the community-driven X account “Marketing LUNC,” the decision to reject the proposal stemmed from the belief that a tenfold increase in gas fees wasn’t the panacea for potential spam attacks. Concerns mounted over the proposal’s adverse effects on ecosystem growth, decentralized application (dApp) support, and transaction execution costs.

https://twitter.com/marketinglunc/status/1782316869740810644?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1782316869740810644%7Ctwgr%5E6b204022a021542323a08a53aaef95ea5e1708c8%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F04%2F25%2Fterra-classic-community-rejects-10x-increase-in-gas-fees%2F

Currently, Terra Classic users transact with a minimum gas fee of 3.74 LUNC ($0.000385). Had Proposal 12095 passed, this fee would have skyrocketed to 37.4 LUNC ($0.00385), marking a significant escalation. Notably, all transaction fees on Terra Classic are divided equally, with half allocated to staking rewards and the other half to the community pool.

Meanwhile, amidst the aftermath of the gas fee proposal, the Terra Classic community remains steadfast in its pursuit of a revival campaign aimed at bolstering LUNC’s price to $1. Binance’s recent incineration of 4.17 billion LUNC on April 1 injected fresh optimism into this endeavor, adding to a total burn of 57.66 billion.

While Proposal 12095 may have sought to address network security concerns, its rejection underscores the significance of community consensus and the thoughtful consideration of proposed changes within decentralized ecosystems.

Continue Reading

Previous: ADA, CHUCK, and DOT Make Waves in Development
Next: Navigating Cardano’s (ADA) April Rollercoaster: On-Chain Indicators Illuminate Path to Profit

Related Stories

dogecoin on marbles
  • Analysis

Dogecoin Price Prediction: 30% Crash Looms After $38M in Losses

Jane Kariuki 30 June 2025
Sollana logo on blue background
  • Analysis

Solana ETF with Staking Launches July 2 Offering Passive Income

Cal Evans 30 June 2025
VeChain chart showing rising channel pattern signaling potential breakout in 2026
  • Blog

How VeChain Is Solving Supply Chain Issues with Blockchain

vivian 30 June 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

dogecoin on marbles
  • Analysis

Dogecoin Price Prediction: 30% Crash Looms After $38M in Losses

Jane Kariuki 30 June 2025
Sollana logo on blue background
  • Analysis

Solana ETF with Staking Launches July 2 Offering Passive Income

Cal Evans 30 June 2025
VeChain chart showing rising channel pattern signaling potential breakout in 2026
  • Blog

How VeChain Is Solving Supply Chain Issues with Blockchain

vivian 30 June 2025
SUI PRICE ANALYSIS IMAGE
  • News

SUI Leads $484M Token Unlock as ENA, SOL, OP, AVAX & DOGE Flood the Crypto Market

Simon Njenga 30 June 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok