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After a joint governance proposal on liquid staking derivatives in Terra Luna Classic (LUNC), a new proposal has emerged for the next quarter, suggesting the formation of a dedicated team consisting of six senior full-stack engineers.
The Terra Allies senior engineering full stack team, known as the Six Samurai, has presented their Q3 spend proposal, emphasizing their deep passion as LUNC holders. With a firm commitment to achieving “a true revival of the ecosystem,” the team pledges to dedicate their efforts and expertise towards this goal.
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payment systems. Terra combines the price stability and wide adoption of fiat currencies with the censorship resistance of Bitcoin (BTC) and offers fast and affordable settlements.
In May 2022, the genesis block of the new chain was launched to conduct future transactions under the name Terra (LUNA), and the original Terra Chain was rebranded as Terra Classic.
Presenting a detailed plan for the third quarter of 2023, the team proposes a budget of $116,000. Their L1 roadmap entails crucial milestones such as migrating from Columbus-5 to Columbus-6 and upgrading to the latest Cosmos SDK.
Additionally, their roadmap includes pursuing the listing of Terra Classic on Keplr’s Web Interface, a web tool for analytic visualizations, as well as Mintscan, a Cosmos block explorer catering to crypto exchanges and customers.
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In their proposal, the team expressed their readiness to undertake the necessary efforts to achieve a genuine revival of the ecosystem. They also emphasized their willingness to collaborate and coordinate with other teams that secure a mandate to develop LUNC. As a result, the LUNC community has shown a positive response thus far, leaning towards voting in favor of the proposal.
As per CoinMarketCap’s data, Terra Classic has experienced a decrease of 1.65% in the past 24 hours. It currently holds the 75th position and possesses a live market capitalization of $537,523,209 USD. The circulating supply of LUNC coins stands at 5,822,833,985,154, with the maximum supply not specified.
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