Joint L1 Task Force Proposes Bug Bounty Program to Enhance Security for Terra Luna Classic Network
The Joint L1 Task Force (L1TF), a core developer group supported by the Terra Luna Classic community, has put forward a proposal for a bug bounty program aimed at improving the security of the Terra Luna Classic network. The bug bounty program invites security researchers, ethical hackers, and developers to identify and report vulnerabilities within the network. The funds for the bounty program will be provided exclusively from the community contributions received by L1TF.
LuncBurnArmy, the project manager of the Joint L1 Task Force, announced on Twitter that Proposal 11602, titled “Luna Classic Bug Bounty Incentive Program,” is now open for voting. With a focus on reducing the circulating supply of LUNC and USTC in Q3, the developer group aims to address the increase in bugs that have been reported after recent upgrades.
According to the proposal, the bug bounty program aims to enhance the security and stability of the network, promote collaboration and functionality, and provide rewards to individuals who identify and report vulnerabilities. The rewards will be funded by L1TF, and there will be no separate community spend proposal required for the bug bounty program. Initially, L1TF plans to allocate 50 million LUNC in Q3 for the bug bounty program.
The bug bounty program is open to all community members, external developers, and security experts. Participants are required to adhere to responsible disclosure practices and comply with legal and ethical standards, which include refraining from public reporting of vulnerabilities and avoiding any malicious activities.
The proposed rewards under the bug bounty program are as follows:
- Confirmed Station Bug: 150,000 LUNC
- Confirmed Station Bug with developed patch: 1 million LUNC
- Verified L1 bug: 300,000 LUNC
- Confirmed security vulnerability (Station): 300,000 LUNC
- Confirmed security vulnerability with developed patch (Station): 1 million LUNC
- ‘Day-zero’ critical security vulnerability reported: 5 million LUNC
- ‘Day-zero’ critical security vulnerability patch developed, tested, and approved: 20 million LUNC
So far, the Terra Luna Classic community and validators have shown their support for the proposal, with a unanimous “Yes” vote from members and validators such as JESUSisLORD, Lunanauts, and DFLunc. The community recognizes the importance of enhancing the network’s security in light of recent developments.
Additionally, the Terra Luna Classic community pool balance has significantly decreased as a result of three community pool spending proposals being passed.
Currently, the price of LUNC is trading sideways, with a value of $0.000087. The 24-hour low and high are $0.0000866 and $0.0000886, respectively. However, there has been a slight increase in trading volume over the past 24 hours.
According to CoinGape Markets, the price of LUNC continues to move within the converging trendline of a triangle pattern. A breakout from this triangle pattern is expected to bring bullish momentum, potentially leading to a price recovery to $0.0001 in the short term and $0.001 in the long term.
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