The Terra Allies senior full stack engineering team, known as the Six Samurai, who are Luna Classic owners, have submitted their Q3 budget proposal.
Their proposal stems from a shared governance initiative on liquid staking derivatives in Terra Classic (LUNC), advocating for forming a specialized team of six experienced full-stack engineers.
The team, named the “Six Samurai,” from Terra Allies, has presented their cost request for Q3, emphasizing their dedication as LUNC owners. They pledge to dedicate their time and expertise to achieve a “true revival of the ecosystem” with unwavering commitment.
Initially, Terra had a complex ecosystem with various components. However, the project underwent significant adjustments due to the challenges faced by its TerraUSD stablecoin and LUNA asset in 2022.
At present, Terra operates on a new blockchain called Terra 2.0, with the asset known as LUNA or Terra (LUNA2). The developers renamed the original Terra chain to Terra Classic, and they created the genesis block of the new chain in May 2022 to handle future transactions.
In their Q3 plan, the team proposes a budget of $116,000 and outlines several important milestones. These include upgrading to the latest Cosmos SDK and transitioning from Columbus-5 to Columbus-6.
Additionally, they aim to list Terra Classic on Mintscan, a Cosmos block explorer for cryptocurrency exchanges and clients, and Keplr, a web application for analytical visualizations.
The team’s proposal expresses their preparedness to make necessary efforts for a genuine ecological recovery. They also emphasize their willingness to collaborate with other groups working on LUNC’s development and coordination.
Current statistics and position of LUNC
As a result, the LUNC community has responded positively and is currently inclined to vote in favor of the plan. According to CoinMarketCap statistics, LUNC has experienced a 1.65% decrease in the past 24 hours.
It currently holds the 75th position with a market capitalization of $537,523,209 at the time of writing. The maximum supply of LUNC coins is unknown, but the current supply is 5,822,833,985,154.
