The Terra Luna Classic community has taken a significant step forward by approving a proposal to disburse 256 million LUNC tokens from the community pool to Genuine Labs, a developer group, for ongoing development work.

The proposal, which received overwhelming support from the community, represents tasks undertaken by Genuine Labs, including upgrading the Terra Classic core to sdk47, preventing p2p storms, and updating relevant dependencies. The community members and validators, including Allnodes, Interstellar Lounge, Interstake One, and others, voted in favor of the community pool spend proposal, with 99.93% of the votes cast in support.

Genuine Labs has successfully provided Security Upgrade Packages in the Terra Classic v3.0.1 upgrade, offering improvements such as fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain. The community's decision to allocate funds for development demonstrates its commitment to the project's growth and improvement.

Despite a slight dip in LUNC price, trading 0.70% down in the last 24 hours, the community remains optimistic about the future of the project. The Terra Luna Classic community currently has 5.23 billion LUNC after the disbursement of 256 million LUNC to Genuine Labs.

Derivatives trading data indicates buying interest in the last few hours as traders analyze markets before the FOMC meeting. Meanwhile, USTC price fell more than 1%, with the price changing hands at $0.02128, and the 24-hour trading volume saw a 40% rise in the last 24 hours, indicating increased interest among traders.

The Terra Luna Classic community's decision to allocate funds for development is a positive step towards the project's growth and improvement. As the community continues to support the project, it is likely that the LUNC price will see another push in the near future.