2024

Terra Classic

Terra

Force

The Terra Luna Classic (LUNC) community has rejected a proposal to create a paid team of developers. Proposal #12093 wanted to set up a system similar to the Layer-1 Joint Task Force (JLTF), which had been abandoned due to arguments against centralization and cost-effectiveness. 
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 I vote "NO" in <a href="https://twitter.com/hashtag/LUNC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">#LUNC</a> proposal 12093 – "Establish a Terra Classic Team". I think that this proposal is a return to our dark past, when the system of monthly payments for L1 Team proved ineffective in terms of management, efficiency, transparency and sustainability. Personally, I… <a href="https://t.co/dnQx1BWJhU" target="_blank" data-wpel-link="external">pic.twitter.com/dnQx1BWJhU</a>— 🌕 LunaClassicLabs.com – 0% Fee LUNC Validator (@LunaClassicLabs) <a href="https://twitter.com/LunaClassicLabs/status/1779843583849243035?ref_src=twsrc%5Etfw" target="_blank" rel="noopener" data-wpel-link="external">April 15, 2024</a>
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The proposed governance model conflicted with LUNC’s current pay-per-job (PPJ) based model and the recently introduced know-your-customer (KYC) requirement for developers. Opponents of this motion held the view that the paid team of developers’ proposal would be slow and not transparent. 
The rejection comes during a wider crypto market downturn, and Luna’s price has dropped 29% over the previous month. While the price of LUNC has recovered slightly, it is still far from the $0.000258 reached in December 2023. 
According to <a href="https://coinmarketcap.com/currencies/terra-luna/" target="_blank" rel="noopener" data-wpel-link="external">CoinMarketCap</a>, Terra is currently trading at $0.000100, with a 0.19% market cap percentage drop in the last 24 hours. 
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 <img decoding="async" src="https://lh7-us.googleusercontent.com/qRxLSJPB4m7TpQJqtpY9NXaxs-0Cpk5QYBsm3et3Hg1FGNHTa1oYYMIPNFjm7eKO7VKGfPzDZPixFHTxfv_DyL8fOpfCehZbOsENqEXmRaREwH9LmoZRZR1p7BM1l8LVT1U_t4DAdnhfw3b-Zg5jQSY" alt="qRxLSJPB4m7TpQJqtpY9NXaxs 0Cpk5QYBsm3et3Hg1FGNHTa1oYYMIPNFjm7eKO7VKGfPzDZPixFHTxfv DyL8fOpfCehZbOsENqEXmRaREwH9LmoZRZR1p7BM1l8LVT1U t4DAdnhfw3b Zg5jQSY">
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 Source: <a href="https://coinmarketcap.com/currencies/terra-luna/" target="_blank" rel="noopener" data-wpel-link="external">Coimarketcap</a>
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Some analysts argue that LUNC might witness an increase in value if it manages to break free from a bearish pattern. However, the community’s choice to prioritize PPJ shows they are more concerned with cost control rather than fast development. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/18/hong-kong-crypto-etfs-target-1-billion/" data-wpel-link="internal">Hong Kong Crypto ETFs Target $1 Billion</a> 
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Terra Luna Classic Rejects Paid Dev Team Proposal

The Crypto Times

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