Terra Luna Classic Core Developer Revises Q3 Proposal, LUNC Price To Rally

The L1TF also proposes to upgrade Cosmos SDK, incorporate Edward Kim’s Block Entropy AI app chain, enable Token Factory, and assist external teams such as ‘quant’ for USTC repeg.

advertisement

Also Read: Terra Luna Classic Community Sees 40% Jump in LUNC Price As L1TF To Work On USTC Repeg

Terra Classic L1TF Releases Revised Q3 Proposal

Joint L1 Task Force project manager LuncBurnArmy announces a revised Q3 proposal for the Terra Luna Classic developer team. After successfully achieving parity with Terra 2.0 and other Cosmos blockchains, upgrading Cosmos SDK to 0.45.13 and Tendermint 0.34.24, and implementing a 5% minimum validator commission, the team submits activities and budget for Q3.

According to the proposal, L1TF suggests upgrading Cosmos SDK to a stable version, testing the market module in the USTC test environment, and implementing a maximum cap for LUNC supply in July and August.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

In August and September, Terra Classic to migrate from Columbus-5 to Columbus-6 for reducing blockchain size and make it more efficient for validators and infrastructure providers. Also, the L1 team will evaluate whether to implement CometBFT and oversees the Bug Bounty program.

In September and October, L1TF will re-enable the swap mechanism and capital controls in the market module. The L1 team also proposes to implement the Alliance module for increased interoperability and the Token Factory for generating custom IBC denoms.

The Joint L1 Task Force will also work with Edward Kim to incorporate the Block Entropy AI app chain into Terra Classic and the ‘quant’ team for USTC repeg.

Also Read: Terra’s Do Kwon, Former CFO Imprisonment By Montenegro Court To Impact Lunc?

Proposed Budget For Q3

The total budget requested for Q3 is $133k, which is approximately 1.48 billion LUNC. Any surplus budget amounts will be sent back to the community pool at the end of the quarter.

Full-time developer Superman ($12.5k per month) is back to the Joint L1 Task Force team after remaining missing in Q2. Part-time developers Xi, Till (fragwuerdig), and Vinh will remain on the team, each with $6.25k per month. Also, project manager LuncBurnArmy ($5k per month), a discretionary budget of $3k per month, and an OPEX budget of $3k per month.

LUNC price currently trades at $0.000092, up 3% in the past 24 hours. The 24-hour low and high are $0.000088 and $0.000093, respectively. Meanwhile, USTC price is trading at $0.012, up 4% in the past 24 hours.

Also Read: JPMorgan, Amazon, IMF, Central Banks Contributes To Singapore Digital Currency Standards

Mooky Presale
Mooky Coin Presale
$MOOKY is a meme token which helps planting trees by donating to charity.
Visit Here
AD

Comments

Post a Comment

Popular posts from this blog

Analyst sets timeline for Bitcoin’s ‘capitulation event’ that’s due next

Image
A cryptocurrency trading expert has suggested that the ongoing Bitcoin (BTC) sell-off will likely escalate in the coming weeks, noting that the asset is facing a possible capitulation event . In a TradingView post on August 3, analyst Alan Santana noted that this projection is based on a detailed examination of historical price movements and critical technical indicators, which forewarn investors of significant market turbulence ahead. According to the expert, Bitcoin surged past $70,000 on July 29, 2024, but the euphoria was short-lived. The cryptocurrency couldn’t sustain this price level for even 15 minutes, swiftly falling below the mark and trading below $65,000. This rapid descent indicates overwhelming selling pressure at this price point. Picks for you ChatGPT-4o predicts Cardano (ADA) price for August 31, 2024 ...
Read more

After worst ‘Uptober’ Bitcoin now likely to crash to $87,000, warns expert

Image
Bitcoin’s (BTC) bullish ‘Uptober’ reputation was shattered this year after the cryptocurrency ended October with a nearly 4% loss, marking its worst October performance since 2014. Now, according to cryptocurrency analyst and TradingView contributor TradingShot, the weak monthly close may signal the start of a deeper correction, potentially sending Bitcoin toward the $87,000 region in the weeks ahead. Bitcoin price analysis chart. Source: Finbold The analyst pointed to a fractal pattern mirroring Bitcoin’s price action between December 2024 and February 2025. During that period, BTC rejected a descending trendline, lost its higher-lows support structure, and ultimately fell roughly 32% from its all-time high.  The recent move, marked by a rejection at the 1-day 50-day moving average (MA), resistance on a descending highs trendline, and stalling at the 0.5 Fibonacci retracement, closely resembles that earlier setup. Notably, since mid-August, Bitcoin has made ...
Read more

Bitcoin Price Prediction: BTC’s Seven-Year ‘Uptober’ Streak Shattered By Macro Jitters, ETF Outflows

Image
The Bitcoin price tumbled 4% in October, breaking its seven-year ‘Uptober’ streak as ETF outflows, profit-taking, and macro jitters weighed on the market. An Analysis by Fortune showed it was Bitcoin’s fourth-worst October performance since 2013 and the worst in the past seven years. That left BTC trailing the S&P 500 stock index, which rose 2.3%. The sell-off came as more than $550 million flowed out of major Bitcoin and Ethereum ETFs late in the month, with analysts saying profit-taking also played a part as Bitcoin treasury firms, including Michael Saylor’s Strategy, also slowed their BTC buying. We just experienced the first red October in 7 years! We also had an historic liquidation in October! UPTOBER was a fraud, but MOONVEMBER?? imho; if you can, DCA more! if you can’t, DO NOT panic sell your bags for cheap! If you are out of $$ and you are sure of your port,… pic.twitter.com/LH7aYTwQeY — Blockchain Bob (@blockchainbob) ...
Read more