Terra Classic

Bitcoin ETF

Terra

Read

Cosmos

The Terra Luna Classic community has approved a major proposal by Genuine Labs, a group of developers experienced in Cosmos stacks, to work with L1TF and other developers on Terra Classic chain development. The developer team discovered a number of issues with Terra Luna Classic and offered a helping hand to address these issues.
<h2 id="genuine-labs-proposal-passed-by-terra-luna-classic-community">Genuine Labs Proposal Passed By Terra Luna Classic Community</h2>
Proposal 11940 “Genuine labs Terra Classic Development Proposal” is passed successfully in governance voting on the Terra Luna Classic community-backed Station wallet. The team proposes to work in collaboration with the L1 teams on Terra Luna Classic.
The proposal has received 84.98% ‘Yes’ votes showing the community approves the developer team to work on Terra Classic development. However, the proposal has also received 3.23% “No” and 0.43%% “No with veto” votes, as well as 11.37% “Abstain” votes. Most top validators including Allnodes voted in favor of the proposal.
The developer group plans to initially focus on integrating and improving the IBC Hooks and Packet Forward Middleware (PFM) features, as well as enhancing the end-to-end testing and interchain testing for the fee tax charging mechanism. Former L1TF member Fragwuerdig noted that IBC-hooks and PFM have already been implemented on the following branch and Genuine Labs may need to repost the job proposal.
It consists of senior developer&nbsp;Nguyen, senior developer&nbsp;Minh, and junior developer&nbsp;Dong. They contributed to Osmosis, Quicksilver, Stride, and Composable; worked on core repositories like Gravity-Bridge, IBC-Go, Cosmos-SDK; and developed fee abstraction module among other assignments.
The team looks to bring valuable improvements to Terra Luna Classic ecosystem and seeks&nbsp;$16,000&nbsp;for a timeline of&nbsp;6 weeks.
Read More: <a title="Terra Classic (LUNC) &amp; USTC Outperform Terra (LUNA) This Year, Should You Switch?" href="https://coingape.com/terra-classic-lunc-ustc-outperform-terra-luna-this-year-should-you-switch/" target="_blank" rel="noopener noreferrer nofollow">Terra Classic (LUNC) &amp; USTC Outperform Terra (LUNA) This Year, Should You Switch?</a>
<a href="https://coingape.com/price/terra-luna-classic/" target="_blank" rel="noopener noreferrer nofollow">LUNC price</a> fell 3% in the past 24 hours, with the price currently trading at $0.000140. The 24-hour low and high are $0.000138 and $0.000146, respectively. Moreover, trading volume has decreased by 20% in the last 24 hours, indicating a lack of interest among traders.
Meanwhile,&nbsp;<a href="https://coingape.com/price/terraclassicusd" target="_blank" rel="noopener noreferrer nofollow">USTC price</a> trades at $0.0323, down 1% in the last 24 hours. The trading volume has decreased by 20% amid despite a number of USTC burn proposals.
Also Read:
<ul>
 <li><a title="Grayscale Bitcoin ETF: CEO Michael Sonnenshein Weighs On Leading Spot Bitcoin ETF Race" href="https://coingape.com/grayscale-bitcoin-etf-ceo-michael-sonnenshein-weighs-on-leading-spot-bitcoin-etf-race/" target="_blank" rel="noopener noreferrer nofollow">Grayscale Bitcoin ETF: CEO Michael Sonnenshein Weighs On Leading Spot Bitcoin ETF Race</a></li>
 <li><a title="Breaking: Ark Invest Sells Coinbase (COIN) Shares Ahead Spot Bitcoin ETF, Cathie Wood Bearish?" href="https://coingape.com/breaking-ark-invest-sells-coinbase-coin-shares-ahead-spot-bitcoin-etf-cathie-wood-bearish/" target="_blank" rel="noopener noreferrer nofollow">Ark Invest Sells Coinbase (COIN) Shares Ahead Spot Bitcoin ETF, Cathie Wood Bearish?</a></li>
 <li><a href="https://coingape.com/bitcoin-whales-reshuffle-14-5k-btc-as-price-slips-past-42k-whats-next-in-2024/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Whales Reshuffle 14.5K BTC As Price Slips Below $42K, What’s Next In 2024?</a></li>
</ul>
The post <a href="https://coingape.com/terra-classic-development-proposal-genuine-labs-officially-passed/" rel="noopener noreferrer nofollow">Just-In: Terra Classic Development Proposal By Genuine Labs Officially Passed</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Just-In: Terra Classic Development Proposal By Genuine Labs Officially Passed

Table of Contents

Coingape News Media

Other articles published on Dec 30, 2023

Innovative AI Software Detects Possible Forgery in Raphael’s Madonna of the Rose

Bitcoin to Surge in 2024: Expert Predicts 100% Price Jump

Da Nang Establishes IC and AI Research Center to Boost Semiconductor Industry

FiNext Conference Sixth Edition: Unveiling the Future of Finance and Technology

Leading Crypto Exchange to Delist 20 Crypto Coin/Tokens

3 Metaverse Stocks Showing Growth, Should You Buy Them in 2024?

Join our free newsletter for daily crypto updates!