Terra Luna Classic (LUNC) Decentralized Debit Card Proposal

The Terra Luna Classic community votes on a new proposal to introduce a decentralized debit card to the Terra Luna Classic (LUNC) ecosystem. A new validator has come up with an idea to work on a debit card focused on LUNC to increase utility and burns.

Proposal 11750 “LUNA Classic Decentralized Debit Card” is up for voting on the Station wallet. As per the proposal, a validator wants to introduce a decentralized debit card to the Terra Luna Classic ecosystem. While a debit card will allow users to spend money in supermarkets, coffee shops, and more, the proposal lacks details on how the validator will work on a debit card for LUNC.

“The proposal of this new validator is that the “Secure LUNA Validator” can use it’s own funds to promote and assist the LUNA Classic community with the most secure LUNA validators. By voting YES, we will invest in and promote more new validators, enhancing the community’s experience.”

The idea of a debit card can draw outside investment and help increase on-chain transactions. The community will be looking for something like a product to bring back utility to the chain.

Until now, the proposal has received 96.33% “Yes” and 3.67% “No” votes. In the initial governance voting, validators such as Garuda Universe and Coinpayu have favored the proposal. The community does not have much detail on the proposal as the validator remains anonymous.

Meanwhile, Terra Luna Classic developer L1 Terra Classic Task Force (L1TF) finalizes preparation for the v2.2.0 core upgrade. It updates cosmos SDK upgrade, tendermint migration to CometBFT, IBC-go to v6, and wasmd. The proposal will be up for governance voting soon.

LUNC price trades at $0.000064, down 1% in the past 24 hours. Meanwhile, USTC also fell 1% in the past 24 hours, with the price currently trading at $0.012.

Also Read:

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.