- A Terra Luna Classic core developer has revised the Q3 proposal.
- The Task Force team is gearing up for Q3 with a budget request of $133k
- The revision is expected to cause a rally in LUNC price
In a move to further develop and maintain the Terra Luna Classic network, the Joint L1 Task Force (L1TF) has submitted a revised proposal for Q3. The core developers of Terra Luna Classic have big plans in store. The L1TF developer group is aiming to expedite the reduction of LUNC and USTC supply by utilizing the market module. But that’s not all. The L1TF is also proposing to upgrade Cosmos SDK and incorporate Edward Kim’s Block Entropy AI app chain. Additionally, they plan to enable Token Factory and assist external teams, including those in the “quant” field, with USTC repeg.
— Crypto News (CoinGape) (@CoinGapeMedia) June 21, 2023
Terra Classic L1TF Budget Proposal
The Joint L1 Task Force project manager, LuncBurnArmy, has just announced a revised proposal for the Terra Luna Classic developer team’s Q3 plans. This comes after 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.
According to the proposal, L1TF plans to upgrade Cosmos SDK to a stable version, test the market module in the USTC test environment, and implement a maximum cap for LUNC supply in July and August.
In addition, Terra Classic will migrate from Columbus-5 to Columbus-6 in August and September to reduce the blockchain size and make it more efficient for validators and infrastructure providers. The L1 team will also evaluate whether to implement CometBFT and oversee the Bug Bounty program.
What’s the Budget for Q3?
The Joint L1 Task Force team is gearing up for Q3 with a budget request of $133k, which converts to approximately 1.48 billion LUNC. Any leftover funds will be returned to the community pool after the quarter ends.
The team is excited to welcome back their full-time developer, Superman, who was missing in action during Q2. Superman’s monthly salary of $12.5k is well-deserved, and he will be joined by part-time developers Xi, Till (fragwuerdig), and Vinh, each earning $6.25k per month. The team will also have the expertise of project manager LuncBurnArmy ($5k per month), a discretionary budget of $3k per month, and an OPEX budget of $3k per month.