- Chris Amani initiates community collaboration through funding DAOs.
- Terra Luna Classic’s USTC proposal was approved, boosting LUNC and USTC prices.
In a significant development, GrowthDAO will receive funding on the Enterprise platform. Spearheaded by Chris Amani, the CEO of Terra Luna, this initiative aims to create a dynamic team comprising analysts and growth managers.
The primary objective of this team will be to provide comprehensive support to TFL (Token for Learning) and other projects within the ecosystem. Their focus will involve enhancing understanding, conducting tests, and refining funnels and retention strategies.
Chris Amani stated,
This is the first of a few DAOs I’m going to fund to try to get the community and ecosystem working together to help grow the ecosystem.
The overarching goal of these DAOs is to foster collaboration within the community and the broader ecosystem. The driving force behind this initiative envisions a harmonious partnership that actively contributes to the ecosystem’s growth.
The newly formed team under GrowthDAO will play an instrumental role in the proof-of-concept (POC) endeavors for two upcoming consumer applications, Verity and Tashkent. By engaging in these critical initiatives, the team will support ongoing projects and contribute significantly to the successful launch of these anticipated consumer apps.
Advancement Toward USTC Repeg by Terra Luna Classic
The Terra Luna Classic community has successfully approved a proposal to send 800 million USTC, associated with the Ozone protocol, directly to the burn address. Burning these USTC tokens is preferred over returning them to the community pool. Consequently, the prices of LUNC and USTC are on the rise once more, recovering from a decline of over 10 percent amidst a wider cryptocurrency market downturn.
Follow us for the latest crypto news!
The Terra Luna Classic community takes significant strides toward USTC repeg as Proposal 11710, titled “Direct Incineration of 800 Million USTC,” successfully garners approval from the community. As a consensus builds among members to burn 800 million USTC, a fresh proposal emerges, advocating for the direct incineration of these tokens.
According to the proposal, individuals who have signed the Ozone reserve wallet are responsible for initiating the process of incinerating the 800 million USTC. This task involves directly transferring the funds to the designated Terra Luna Classic burn address. Additionally, the effectiveness of proposals 11658 and 11660, previously endorsed by the community, will be nullified.
Proposal 11658 aimed to repatriate 800 million USTC from the Ozone Protocol reserve wallet to the Terra Luna Classic community. Conversely, Proposal 11660 countered by suggesting the direct incineration of the same amount of USTC rather than channeling them back to the community pool. The community embraced both proposals, necessitating a new proposal centered on the direct incineration of these tokens.
Proposal 11710 has secured an overwhelming vote of nearly 85% in favor, with 8 percent marked as “Abstain” and 7 percent as “No” votes. Among the 40 participating validators, a significant majority of 35 validators, including entities like Allnodes, Interstellar Lounge, HappyCattyCrypto, StakeBinfavor, and 1maxfee, advocate for the direct incineration of the 800 million USTC.
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
