Joint L1 Task Force (LTF) proposed a bug bounty program to enhance the security of Terra Luna Classic primary developers.
Joint L1 Task Force (L1TF), a core developer organization supported by the Terra Luna Classic community, proposed a bug bounty program inviting security researchers, ethical hackers, and developers to identify and report vulnerabilities in the Terra Luna Classic network. The bounty will be provided solely from community donations received by LITF.
Classic Terra Luna Bug Bounty Program
Joint L1 Task Force project manager LuncBurnArmy announced on Twitter that the “Luna Classic Bug Bounty Incentive Program” proposal 11602 is up for a vote.
As the developer team focuses on reducing the circulating supply of LUNC and USTC in Q3, it intends to clarify the Terra Luna Classic network’s bugs. Some members report an increase in problems following recent upgrades.
Proposal 11602 is up for vote. This proposal would see the implementation of a bug bounty reward system implemented in Q3, which would incentivize end users and developers to report / fix any bugs found. #LUNC
— 🔥LuncBurnArmy🔥 (@luncburnarmy) July 4, 2023According to the proposal, a bug bounty program will improve network security and stability, facilitate collaboration and functionality, and reward contributors for discovering and reporting vulnerabilities.
The rewards will be provided by L1TF, and there is no need for a distinct community spending proposal for the bug bounty program. In the first quarter, L1TF intends to allocate 50 million LUNC.
The program is available to all community members, external developers, and security professionals. It requires participants to adhere to responsible disclosure and legal and ethical standards, such as not disclosing vulnerabilities to the public and abstaining from malicious activities.
Per the proposition, the following are the anticipated benefits:
- Confirmed Station Bug: 150,000 LUNC
- Confirmed Station Bug with patch developed: 1M LUNC
- Verified L1 bug: 300,000 LUNC
- Confirmed security vulnerability (Station): 300,000 LUNC
- Confirmed security vulnerability with patch developed (Station): 1M LUNC
- ‘Day-zero’ critical security vulnerability reported: 5M LUNC
- ‘Day-zero’ critical security vulnerability patch developed, tested and approved: 20M LUNC
The Terra Luna Classic community and validators have supported the proposal until now. Members and validators, including JESUSisLORD, Lunanauts, and DFLunc, have all voted “Yes” on this proposition. The community acknowledges the need to strengthen the network’s security in light of recent developments.
As a result of the approval of three expenditure proposals for the community pool, the balance of the Terra Luna Classic pool has also decreased significantly.
LUNC Price Recovery?
Currently, the LUNC price is $0.000087, moving sideways. The low and high for the past 24 hours are $0.0000866 and $0.0000886, respectively. However, the trading volume has increased marginally over the previous twenty-four hours.
According to market reports, the LUNC price continues to move within the triangle’s converging trendline. The triangle pattern breach would result in bullish momentum that would restore LUNC’s price to $0.00.
