Terra Luna Classic core developer Joint L1 Task Force (L1TF) submits a revised proposal to continue developments and maintenance of the network in Q3. Primarily, the L1TF developer group plans to enhance and expedite LUNC and USTC supply reduction by utilizing the market module.

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.

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.

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

AD

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.