Hong Kong Virtual Asset Consortium Considers Including Terra Luna Classic (LUNC) in Digital Asset Index, Potentially Propelling Price Back to $1

Hong Kong Virtual Asset Consortium (HKVAC) is currently uating the inclusion of Terra Luna Classic (LUNC) in its digital asset index. This move could have a significant impact on the price of LUNC tokens, potentially driving it back to $1.

The Terra Luna Classic community has formally requested HKVAC to add LUNC to their digital currency index. HKVAC acknowledged the reputation of Terra Luna Classic and its connections with crypto exchange Binance. While the initial list of cryptocurrencies for the large market cap index has been announced, HKVAC is open to introducing more indexes for additional cryptocurrencies.

Six Samurai Proposal Rejected by Terra Classic Community

In another development, the Terra Classic community rejected a proposal by the “Six Samurai,” a team of senior engineering developers. The proposal aimed to form the Terra Allies team and allocate a budget of $116,000 for three months. However, the majority of community members voted against it.

The proposal received 57% “No with veto” votes, 36% “No” votes, and only 7% support. Prominent validators, including Happy Catty Crypto, Classy’s Sphere, Lunanauts, JESUSisLORD, StakeBin, and others, also rejected the proposal.

Community members cited concerns about transparency, trust in the existing developer team, and the availability of funds as reasons for rejecting the proposal. Despite this setback, the Terra Classic community remains committed to exploring alternative strategies to revive the eco.

Important Notes:

The potential inclusion of Terra Luna Classic in HKVAC’s digital asset index could boost the community’s efforts to revive the project. Developers are actively working on initiatives like USTC repeg, increasing LUNC staking, and implementing token burn measures. However, the Terra Classic chain still lags behind other Cosmos chains and the latest upgrades.

The outcome of HKVAC’s uation and the ongoing community discussions will shape the future trajectory of Terra Classic and its associated token, LUNC. As these developments unfold, the potential price boost and the community’s determination to revive the eco remain focal points for Terra Luna Classic.