Joint L1 Task Force (L1TF), the core developer of Terra Luna Classic, submits a revised Q3 proposal to revive LUNC and USTC.
Joint L1 Task Force (L1TF), the fundamental developer of Terra Luna Classic, submits a revised proposal to continue network development and maintenance in Q3. The L1TF developer team intends to enhance and accelerate LUNC and USTC supply reduction using the market module.
In addition, the L1TF proposes to enhance Cosmos SDK, incorporate Edward Kim’s Block Entropy AI app chain, enable Token Factory, and assist external teams such as ‘quant’ with USTC repeg.
Terra Classic L1TF Issues Q3 Proposal Revision
Joint L1 Task Force project manager LuncBurnArmy announces the Terra Luna Classic development team’s revised Q3 proposal. After achieving parity with Terra 2.0 and other Cosmos blockchains, upgrading Cosmos SDK to 0.45.13 and Tendermint to 0.34, and instituting a 5% minimum validator commission, the team submits its budget and activities for the third quarter.
L1TF proposes upgrading Cosmos SDK to a stable version, testing the market module in the USTC test environment, and instituting a maximum supply cap for LUNC during July and August.
Terra Classic will migrate from Columbus-5 to Columbus-6 in August and September in order to reduce blockchain size and make it more efficient for validators and infrastructure providers. In addition, the L1 team will also evaluate whether CometBFT should be implemented and supervise the Bug Bounty program.
L1TF will reactivate the market module’s exchange mechanism and capital controls in September and October. In addition, the L1 team proposes implementing the Alliance module for enhanced interoperability and the Token Factory for generating custom IBC denoms.
The Joint L1 Task Force will also collaborate with Edward Kim to integrate the Block Entropy AI application chain into Terra Classic and the ‘quant’ team for USTC repeg.
Proposed Budget For The Third Quarter
The requested budget for Q3 is $133k, or approximately 1.48 billion LUNC. Any budget surpluses will be returned to the community pool at the end of each quarter.
After being absent in Q2, the developer Superman ($12.5k per month) has returned to the Joint L1 Task Force team. The part-time developer’s Xi, Till (fragwuerdig), and Vinh will continue to receive $6,250 per month each. In addition, $5k per month for the project manager LuncBurnArmy, $3k per month for the discretionary budget, and $3k per month for the OPEX budget.
The LUNC price is currently $0.000092, a 3% increase over the past 24 hours. The low and high for the past 24 hours are $0.000088 and $0.000093, respectively. Currently, the price of USTC is $0.012, up 4% in the last 24 hours.
