The Terra Luna Classic community recently rejected a proposal to increase the validator set to 130, a move seen as crucial for a potential merger with Luna v2 validators. This decision follows the $4.5 billion settlement between Terraform Labs and the U.S. SEC.
Top validators like Allnodes and Luna Station 88 opposed the proposal, arguing that the network isn’t ready for such an expansion. The proposal received 30.59% “Yes” votes, with 46.17% voting “No” and 22.59% abstaining.
Despite this setback, Terra Classic’s ecosystem tokens saw a significant price surge. LUNC prices jumped over 10% in 24 hours, and USTC prices rose by more than 5%, indicating strong market support amid these challenges.
The strategic importance of this event lies in its potential to shape the future decentralization and robustness of the Terra Classic network. The community’s cautious approach reflects the need for careful planning in integrating new validators to maintain network stability.
