The Terra Luna Classic community is currently voting on a crucial proposal. Proposal 11767, titled “Test market swap with mint limiter,” is under consideration. Its primary objective is to conduct a test of the market swap using the limiter, specifically for L1TF, which would lead to the successful reopening of the LUNC and USTC market swap.
Enabling the market swap feature within the Terra Luna Classic community will have a substantial impact by reducing the supply of LUNC and USTC. This move aligns with the community’s vision of achieving a USTC peg to $1 and reviving Terra Luna Classic (LUNC) to $1.
The developer responsible for this proposal has not only created the necessary code but has also thoroughly tested it in a controlled environment established by the L1TF developer team. The developer is confident that implementing the market swap through this method will significantly increase the rate at which LUNC is burned. Additionally, it will enhance utility by creating pairs within Terraswap or Astroport.
As of now, the proposal has garnered strong support, with 97% of the votes in favor (“Yes”), along with 1% abstaining and some “No” and “No with veto” votes.