Terra Luna Classic reviews LUNC staking undelegation period and gas fees

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Written on Jul 14, 2023

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The Terra Luna community has two governance proposals up for voting.
The platform plans to reduce the staking undelegation period and raise gas fees.
LUNC prices recorded impressive jumps over the past day.

Terra Luna Classic validator JESUSisLORD revealed two crucial governance proposals up for voting. The cryptocurrency project aims to reduce the staking undelegation timeframe from 21 days to two weeks and double gas fees.

I have two #LUNC governance proposals up for vote now: ????????????

1. Proposal #11639 – Reduce Staking Undelegation to 14 Days ✅

This proposal is to reduce the LUNC staking undelegation period from 21 days (3 weeks) to 14 days (2 weeks).

This gives you more flexibility with… pic.twitter.com/XVEVA75vsO

— JESUSisLORD (@ForTheCross_CH) July 14, 2023

Terra Luna votes on two crucial governance proposal

Proposal 11639 aims to reduce LUNC staking undelegation timeframe to 14 days from 21 days. The update will ensure user flexibility when staking tokens and attract more stakers, reducing LUNC’s supply in circulation.

JESUSisLORD trusts a 2-week undelegation timeframe is enough to counter volatility and stake recover services. Moreover, the period prevents the penalties and complexity of fast undelegation proposals. He added that Cosmos’s OSMO has a 2-week undelegation period.

Meanwhile, Proposal 11370 will double the current on-chain gas fees. That will bolster staking rewards and community pool funding, with charges split equally (between the two).

Current on-chain gas fees are cheap – around 8 LUNC ($0.00067) to send and 67 LUNC ($0.0056) to complete staking rewards withdrawals.

Doubling gas fees will require approximately 16 LUNC ($0.0013) to send and 134 LUNC ($0.011) for staking reward withdrawal. That will see a single transaction requiring 0.13 – 1.1 cent gas fees, according to LUNC’s current prices, to complete.

LUNC price outlook

Cryptocurrency prices have displayed recoveries following XRP’s win against the SEC. That has triggered optimism within the altcoin market. For instance, invezz.com reports show Bitcoin dominance dropped following Ripple-induced alt season.

Terra Luna Class joined the upside rallies, jumping by more than 7% over the past day to $0.000089 at press time. Also, its trading volume increased by 170% within that timeframe. The altcoin should hold beyond the support level of $0.00009 for sustained revivals.