The Terra Luna Classic community has accepted the Joint L1 Task Force (L1TF) Q3 proposal to revive LUNC and USTC at $1.
The Terra Luna Classic L1TF Q3 LUNC and USTC Revival For 1 Dollar Has Been Approved
The Terra Luna Classic community pool expenditure proposal, submitted by the Core Developer Partner L1 Task Force (L1TF) in the third quarter, has been officially accepted by the community. The L1TF developer group will be responsible for making improvements and maintenance on the Terra Luna Classic community pool.
The main focus of these development efforts is to increase the usage of the market module to accelerate and enhance the supply reduction of LUNC and USTC. Additionally, all tokens belonging to the Terra ecosystem have experienced an increase of over 3% in the past 24 hours.
Proposal 11599, known as the ‘Core Developer Partner L1 Task Force Q3 Proposal,’ was put forth to address concerns about depleting funds in the Terra Luna Classic community pool. This proposal has been accepted, surpassing the ‘quorum threshold.’ The Core Developer Partner L1 Task Force (L1TF) will receive a total of $116.7 thousand in funds for tasks planned to be completed in the third quarter. According to the current voting results, 56% of the votes were in favor of the proposal, 29% have abstained, 9% were against it, and 6% were vetoed. Additionally, 26 validators, including Coinpayu, JESUSisLORD, Happy Catty Crypto, DFLunc, and StakeBin, have supported the proposal.
Other participants have presented reasons such as low community pool funds, recent disagreements, or personal reasons for rejecting the proposal.
About Terra Luna
Terra (LUNA) is the name given to the new blockchain resulting from the forking of the Terra blockchain in May 2022. It is also referred to as Terra 2.0. The Terra blockchain is a decentralized protocol that enables its users to create stablecoins. It allows users to instantly create, store, buy, sell, or trade Terra stablecoins.
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