- The Terra Luna Classic community passes proposal 12033 with a majority voting for the proposal.
- The proposal introduced by SolidVote LUNC Validator mandates Know Your Customer (KYC) procedures for all L1 developers.
- With the proposal, the community assures the safety and integrity of the blockchain.
In a landmark decision, the LUNC community approved Terra Luna Classic’s proposal to mandate Know Your Customer (KYC) procedures for all L1 developers. ‘Mr.Diamondhandz1’, a prominent voice in the LUNC community, shared an X post highlighting the crucial development in the ecosystem.
Terra Luna Classic Introduces Security Measures
Previously, anybody could create a code for the chain anonymously, posing serious threats to the ecosystem. For instance, malware like a Trojan could be easily inserted into the chain, compromising and infecting the entire network. With the approved proposal, the community can be assured of blocking unauthorized entries into the chain.
The proposal mentioned the objectives of the new proposal:
This initiative aims to provide the community, investors, and utility providers with confidence that we do not have completely anonymous development teams working on the chain. It assures that legal recourse would be available if necessary, with details accessible only through the correct legal channels.
SolidVote LUNC Validator Proposal 12033
Six months ago, SolidVote LUNC Validator introduced a proposal requiring a compulsory KYC process for anyone intending to work on the chain. On February 1, when the proposal went live, the SolidVote LUNC Validator announced that they had voted for the proposal, urging others to participate in the voting scheme.
Proposal Approval Despite Strong Disagreements
Despite the heated debate, the community finally passed Proposal 12033, prioritizing the security and integrity of the blockchain. According to the data 24 hours ago, the validators were divided, with more than 50% supporting and 48% opposing the proposal. However, when the result was finalized, the proposal passed governance with a “massive voting turn-out of 90.5%.”
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