The cost of the original version of the LUNA cryptocurrency has risen against the background of a community vote on the allocation of a grant to the decentralized Conto protocol in the amount of about $ 800 million.
The Terra Classic cryptocurrency exchange rate (LUNC) increased by 39% over the week. The value of the original version of the LUNA coin began to grow during the vote on the allocation of a grant to the new protocol from the funds of the Terra Luna community pool. The price of the token has risen to $0.00018, only in the last day it has risen by 16%, according to CoinGecko.
The vote of the Terra Luna community entitled "Contro Protocol Grant Proposal" ended 3 days ago. The developers claim that Contro is an innovative DEX protocol on the Terra blockchain, which allows to create scalable prediction and futures markets. It is able to generate a large amount of commission income, 10% of which will be used to purchase LUNA tokens, and their permanent transfer to the community pool.
More than 325 thousand people participated in the voting. 60% of them supported the innovation, 7% opposed it, and about 32% of community members abstained. A grant of 560 thousand LUNA ($795 thousand) will be allocated to the Contro protocol in several parts: 280 thousand tokens in the form of prepayment, the rest of the amount later.
The LUNC token was renamed from LUNA after a hard fork held at the end of May at the initiative of TerraForm Labs founder Do Kwon, after the collapse of the UST stablecoin. The new tokens were named LUNA and distributed between LUNC and UST holders.
At the beginning of May, the rate of the original LUNA coin (now LUNC) associated with UST collapsed from $86 to zero values. The collapse of the Kwon ecosystem led to losses of investors in the amount of about $ 20 billion. The Terra Luna community still does not lose hope of restoring the coin and periodically conducts updates and improvements.