The Terra Luna Classic project aims to create a dedicated team to oversee its entire development process. Following the dissolution of the Joint L1 Task Force (JL1TF) in March, it is proposed that this team be selected by the community and consist of influential individuals, such as developers and contributors.
Terra Luna Classic Team Proposal
Proposal 12093 on the Terrascan wallet of the Terra Luna Classic community invites votes for the creation of a dedicated team, referred to as the “Terra Classic Team.” This team’s role would involve ongoing tasks and responsibilities, with monthly compensation sourced from the community fund.
A team is proposed to be hired directly by the Terra Classic blockchain, distinct from Terraform Labs who currently support Terra (LUNA). The specifics regarding job roles, compensation, duties, and headcount will be determined in a future proposal, contingent upon governance approval for this current proposal.
At Commonwealth, members of the Terra Luna Classic community and validators will collaborate to establish the team’s necessary conditions, tasks, and obligations. If the community disapproves of the proposal, discussions will ensue regarding the requirements, roles, and responsibilities until a favorable vote is achieved, permitting progression to the next stage.
After obtaining the approval of Governance on the roles and responsibilities, it is then necessary to involve the Community and validators on the Commonwealth platform to suggest potential developer candidates for the newly created positions.
The proposal has received 82% votes in favor, with 5 “Yes” validator votes and 6 “No” validator votes. Some community members have opposed claiming centralization risks, conflicts with pay-per-job, and no mention of developer KYC requirements.
LUNC and USTC Price Performance
The price of LUNC has risen by 1% over the past 24 hours, reaching a current value of $0.0001301. The highest and lowest points of trading during this period were at $0.0001276 and $0.0001315 respectively. Yet, there’s been a notable decrease in trading volume by around 23%, suggesting reduced engagement from traders.
The past 24 hours have seen a nearly 6% increase in open interest for LUNC futures. Furthermore, there was a noteworthy rise of around 2% in the number of outstanding LUNC futures contracts on Binance and Bybit within this timeframe, suggesting that traders anticipate a potential price rebound.
During the past week, USTC’s price remained relatively stable, hovering around $0.0250. The price reached a low of $0.0245 and a high of $0.0252 in the last 24 hours.
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2024-04-12 16:12