terra luna‘s Classic Offering Is Inconsistent with Binance and CoinMarketCap: Top Developer
A Terra Luna Classic developer has warned about a proposal to migrate endpoints to the best verification platform Allnodes to ensure accurate LUNC roaming supply data. The proposed proposal aims to secure an official organization or platform to host the endpoint, preventing individuals from making unauthorized changes to the Terra Classic supply without community approval.
Terra Luna Classic Roaming Supply API Hosting Dispute
Former Terra Rebels developer and Hexxagon co-founder Raider took to X on May 17 to clear the air about the situation with the API created and hosted by him to keep track of circulating supply. He explained that binance requested an API from Terra Rebels to provide detailed information about the total supply and circulating supply of Terra Luna Classic.
They were provided with official LCD and FCD endpoints for supply calculation hosted by TFL at the time. CoinMarketCap rejected official endpoints and requested Binance to create an API consistent with CoinMarketCap’s definition of circulating supply.
“The changes I have made to the API configuration since October 2022 have been made to keep the circulating supply figure as close to the CMC definition as possible with the information publicly available at the time,” Raider said.
He added that the API will continue to exist as long as CoinMarketCap uses it. Moreover, it does not intend to object to the proposal to allow Allnodes to host official endpoints. The community will need to convince Binance and CoinMarketCap of a completely different API for total supply and circulating supply.
So read: Terra Classic Community Makes a Significant Move with Allnodes
LUNC and USTC Price Performance
LUNC price is currently up 0.5% in the last 24 hours and the price is currently trading at 2.5. $0.0001077. The 24-hour high and low are $0.0001058 and $0.0001091 respectively. However, transaction volume decreased by 35% in the last 24 hours.
On the futures front, LUNC and 1000LUNC continue to see selling pressure. Total LUNC futures are down almost 1% in the last 24 hours, while Binance futures are down almost 2%.
Meanwhile, USTC price is down 1% in the last 24 hours and the price is currently trading at $0.0219. The 24-hour low and high are $0.02096 and $0.02221 respectively.
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
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