Terra Luna Classic Seeks Core Team with New Proposal
The Terra Luna Classic (LUNC) community is currently participating in a voting process for a crucial proposal. This proposal aims to establish a core team that will be responsible for overseeing the chain’s developments and making key decisions. The proposal comes after the disbandment of the Joint L1 Task Force (JL1TF) in March. If approved, the proposed core team will be comprised of key individuals, including developers and contributors, who will be appointed by the community.
The current proposal, titled “Establish a Terra Classic Team,” is up for voting on the Station wallet for the Terra Luna Classic community. If it passes, it will pave the way for the establishment of a permanent team that will receive monthly remuneration from the community pool. This team will work directly for the Terra Classic blockchain, distinguishing it from Terraform Labs, which serves Terra (LUNA). The details regarding roles, salaries, responsibilities, and the number of developers will be determined in a subsequent proposal, depending on the governance approval of this initial proposal.
The Terra Luna Classic community and validators will engage in discussions to determine the requirements, roles, and responsibilities of the proposed team on Commonwealth. If the proposal is rejected, a review of the requirements, roles, and responsibilities will be conducted until a positive vote is achieved, signaling approval for the next phase of the process. Once the Governance ratifies the roles and responsibilities, the community and validators will collaborate on Commonwealth to nominate developers for the positions created.
In terms of price performance, LUNC has experienced a 1% increase in the last 24 hours, with the current price being $0.0001301. However, trading volume has declined by 23% in the same period, indicating a lack of interest among traders. On the other hand, LUNC futures open interest has seen a modest increase, suggesting that traders anticipate a potential rebound.
In contrast, USTC price has shown sideways trading patterns over the past week, with the current price hovering around $0.0250. Despite minor fluctuations, trading activity remains relatively stable, reflecting a cautious market sentiment.
For more information, Terra Luna Classic recently reached a new milestone with 5.5 million holders amidst rising interest in the cryptocurrency.
Tags: Altcoins