The community has approved the Terra Luna Classic pool funding request from the main developer team Joint L1 Task Force (L1TF) for Q3 chain upgrades and support. The LITF developer group mainly aims to improve and speed up LUNC and USTC supply decrease by using the market module. All tokens in the Terra ecosystem have increased by more than 3% in the last 24hrs.
This is a rewritten version of Proposal 11599 “Joint L1 Task Force Q3 Proposal” that passed the voting process despite some objections from the Terra Luna Classic community. The Joint L1 Task Force (L1TF) will get $116.7k in total to finish the tasks they proposed for Q3.
LUNC Community Votes in Favor of Proposal
According to the current voting details, the proposal got 56% “Yes” votes, while 29% chose “Abstain.” Some people opposed the proposal, with 9% “No” and 6% “No with veto” votes. The proposal was backed by 26 validators such as Coinpayu, JESUSisLORD, Happy Catty Crypto, DFLunc, and StakeBin. Others rejected the proposal because of low community pool funds, recent conflicts, and other personal reasons.
The proposal to create the Terra Allies “Six Samurai” team, a group of 6 experienced developers who wanted to restore the Terra ecosystem, was rejected by the community. The main reason was the insufficient funds in the community pool to support the new team.
The community also had doubts about the developers’ backgrounds and skills, their trust in the current Joint L1 Task Force team, and the possibility of malicious actors in the new team. The Six Samurai team claimed to have a better roadmap than the Joint L1 Task Force, but this did not convince the community.
The L1TF plans to do the following: switch from Columbus-5 to Columbus-6, update Cosmos SDK, check Oracle pool funding rate, check the market module in the USTC test environment, and set a maximum limit for LUNC supply. The L1TF also has other projects in progress.
LUNC and USTC are both up today, with LUNC at $0.000088 and USTC at $0.012, representing 3% and 4% increases respectively. However, both tokens saw lower trading volumes than yesterday. Terra (LUNA), the native token of the Terra blockchain, also rose 3% to $0.63. The LITF recently upgraded its interchain capabilities with a parity update.
