Terra Luna Classic community has turned down another proposal targeting 800 million USTC burn, with a lack of consensus between community members, including validators. However, top validators haven’t voted yet on the proposal despite less than 24 hours left for the governance voting.
Terra Luna Classic Proposal For 800 Million USTC Burn
Proposal 11927 “Burn of 800m USTC Funds” is near rejection by the Terra Luna Classic community, with the voting deadline ending on Dec 27. The proposal aims to burn the 800 million USTC still in the Risk Harbor multisig wallet via a contract, a legally ‘legally absolved route’.
As the Terra Luna Classic community was notified that Risk Harbor lost the keys and has agreed to blacklist the wallet, 800 million burn is crucial for the community. Thus, the community plans to burn instead as no fund recovery via the wallet owners is possible and blacklisting serves no purpose anymore.
The core developer L1TF needs to create a contract with a sole M
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