After a joint governance proposal on liquid staking derivatives in Terra Classic (LUNC), a new proposal emerged for the next quarter suggesting the formation of a dedicated team consisting of six senior full-stack engineers.
The Terra Allies senior full stack engineering 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 toward this goal.
Terra was originally an ecosystem with several moving parts. However, its TerraUSD (UST) stablecoin and LUNA asset faced catastrophe in 2022, causing vast changes to the project. Terra now has a new blockchain called Terra 2.0 with a new asset that is also called LUNA but referred to by most as Terra (LUNA2).
In May 2022, the genesis block of the new chain was launched to conduct future transactions 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. The 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, and 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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