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LUNC Could Rally as USTC Re-Peg Proposal Passes Governance Voting on Terra Classic Blockchain

LUNC, the native crypto token of the Terra Classic blockchain, could rally as the USTC re-peg proposal passes governance voting. A prominent community member submitted the proposal in a bid to re-peg TerraClassicUSD (USTC) to the dollar, suggesting two approaches including an algorithm peg divergence fee protocol and a LUNC buyback mechanism.

The proposal has been passed by the Terra Classic community, but some top validators and community members rejected it, citing concerns about centralized exchanges such as Binance. The LUNC community is hopeful that Binance will support the re-peg proposal, which could put LUNC in the $1 direction.

Terra Classic Terra Classic $0.00
-1.9%
LUNC Terra Classic CEXs stablecoin
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