The governance voting results on Proposal 11242 in the Terra Classic community prove that re-minting 10% of burned LUNC at the end of each epoch was a step backward in the project’s revitalization movement.

As reported by the popular validator on the Terra Classic network, Classy Crypto, burned LUNC will no longer be re-minted as recommended in two previously passed proposals. The main idea behind re-minting LUNC burns was to create funds for developments in the ecosystem. 

This eventual end to the re-minting of burned LUNC comes after the passing of Proposal 11242 on Wednesday. The proposal titled ‘Stop LUNC Re-minting from Burns by Setting Seigniorage Reward Policy to Zero’ was submitted on Thursday for voting. Meanwhile, the proposal serves as Part 1 of an earlier proposition that gunned for an increase in gas fees on the Terra Classic network by 5x.