The New Terra Luna Classic (LUNC) Stablecoin: USDS

USDS Terra Luna Classic

✍️ 14 September, 2022 - 8:06 👤 Editor: Jakub Motyka

Among the news about the burning of Luna, a new proposal for Terra Luna Classic (LUNC) has managed to make its way into the governance platform of this crypto. It turns out that an idea has appeared for the Luna community that consists of using the infrastructure of the company Stably to associate this cryptocurrency to the stablecoin USDS , valued 1:1 to the US dollar.

Published under the number #1354, this new proposal from Terra Luna Classic (LUNC) invites the project community to vote to decide if they want to approve the introduction of a new native stablecoin for Terra 2.0, as well as a platform for the conversion of fiat money to USDS in Terra dApps and wallets.

Latest Proposal For Terra Luna Classic (LUNC) Talks About A Native USDS Stablecoin

USDS is a stablecoin with a value 1:1 to the US dollar (USD), it is issued by the companies Stably and Prime Trust, is backed by monthly collateral made by Cohen & Co and the proposal seeks to become the Terra 2.0 stablecoin, that is, the stable currency of the new Terra Luna Classic (LUNC) project.

USDS currently offers liquidity to other blockchains where $USDS is natively available, such as Ethereum, Harmony, Stellar and 7 others, as well as Ripple and Polymesh, which will be available soon.

At the moment, the proposal has more than 46 million votes. The "Yes" registers 59.61% of the votes, while the "Abstention" has 40.36%. There are still 6 days left until the voting closes, and according to the Terra 2.0 governance platform only 8.61% of the community has voted so far.

The price of Terra Luna Classic (LUNC) rises 6.64% in the last 24 hours

Although it is still far from $0.0008, the price of Terra Luna Classic (LUNC) has started to recover in the last 24 hours with a rise of 6.64%, which at the time of writing this news today, September 14, 2022, has allowed it to reach a price of 0.0003454$.

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