- LUNA and LUNC stood at the center of a new discussion around a proposed ‘Merge Protocol’
- LUNA and LUNC both registered some upticks in the last 24 hours
Terra [LUNA] was among the trending topics on Twitter as of 28 November and could be considered as a topic of discussion in the crypto community. This was because a new ‘Merge’ proposal surfaced on the social media platform.
Several popular Twitter handles revealed that a group of developers came up with the new Merge Protocol. This was with the intent of bringing the Terra and Terra Classic [LUNC] ecosystems together.
https://twitter.com/LUNCDAO/status/1597353767879741440?s=20&t=HOQtXe2quuVYLg6GkyzlWQ
The Merge Protocol would also reward users for swapping their LUNC directly into LUNA by paying them extra DEX incentives for the provision of long-term liquidity. The Merge also proposed to sell the LUNC Oracle Rewards to buy LUNA, killing LUNC and airdropping proportionate LUNA to current stakeholder accounts.
As per the developers, the new Merge Protocol was set to be released shortly after IBC opens, provisionally in December.
LUNA community remains divided
As usual, opinions were diverse in the crypto community. Most LUNC enthusiasts were against this protocol, while a few favored the move. LUNC DAO mentioned that, though this proposal was completely legitimate, they had no plans of supporting the protocol and stood against the same.
https://twitter.com/LUNCDAO/status/1597376079815405569?s=20&t=WtoQs4fVw6r7C7fHucqebQ
Despite the storm of tweets, both tokens did witness the effect of the ongoing commotion. Though Terra was trending, its social volume went down, and so did the positive sentiments around it. LUNC’s chart also followed a similar pattern, as its social volume and positive sentiments registered declines as well.
Should investors be concerned?
Interestingly, CoinMarketCap’s data revealed that this event actually positively affected LUNA and LUNC, as they both registered more than 3% daily gains. At press time, LUNA was trading at $1.60, while LUNC was valued at $0.0001619. However, only time will tell which way the coins will trend.