Terra Luna Classic Core Developer Submits Major Proposal, LUNC to $1?

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As an experienced financial analyst, I believe Genuine Labs’ proposal to manage the Terra Luna Classic repository is a positive step for the project’s development. The absence of a dedicated team for code reviewing, PR merging, and maintenance since JL1TF was disbanded has been a critical issue that needs immediate attention. Having a team like Genuine Labs, with their expertise and commitment to transparency, can help ensure regular updates and improvements to the Terra Luna Classic blockchain.

Genuine Labs, the development team behind Terra Luna Classic, puts forth their application to assume the role of the official core developers for the Terra Classic blockchain. They believe that with the recent dissolution of the JL1TF, it is essential for the chain to have a dedicated team in place to oversee code reviewing, merge pull requests, and perform regular maintenance tasks.

Genuine Labs Proposes To Manage Terra Luna Classic Repository

A trio of developers from Genuine Labs put forth a proposition to take over the maintenance duties for the classic-terra/core repository, which at present is managed collectively by the community and various developer groups.

“After the dissolution of the JL1TF team, the importance of having a new team to handle code reviews, pull request merges, and ongoing maintenance for the blockchain has grown increasingly significant,” explained experienced developer ‘expertdicer’.

The trio of team members at Genuine Labs have completed the necessary Know Your Customer (KYC) checks through SolidProof. They hold the conviction that routine upgrades are essential for the Terra Luna Classic blockchain.

As per the proposal, their work entails:

  • Code review, PR merging and repository maintenance.
  • Integrate new features with e2e-test and interchain-test.
  • Cover security patch for cosmos-sdk, ibc-go, comet-bft and wasmd.
  • Other technical support
  • Online and giving support when chain upgrade

The team promises to share a detailed update with the public, including information about their accomplishments, future plans, and other relevant logs, all while keeping an open and honest communication.

At Genuine Labs, we allocate a budget of $10,000 every month towards maintaining the LUNC and carrying out the specified tasks. The team will persistently look for additional tasks, beyond this scope, that might require upgrades or improvements, but are not encompassed within the maintenance service.

Can LUNC Price Hit $1?

As a crypto investor, I believe that the Binance burn, recent improvements, and upcoming enhancements like Cosmos SDK 0.50 could potentially lead to an upward trend for LUNC’s price. These developments are increasing the utility of this cryptocurrency. Moreover, the settlement between the SEC and Terraform Labs, along with co-founder Do Kwon, adds a layer of confidence to the project. However, before LUNC’s price can make significant progress towards $1, it is essential that it surpasses the resistance level at $0.0005 first.

As a researcher studying the cryptocurrency market trends, I’ve noticed some intriguing patterns in Terra Luna Classic (LUNC) based on CoinGape Markets’ analysis. The price seems to be forming a rectangle pattern with a strong support at around $0.00012. When this pattern gets broken out, there is a high likelihood of a 65% rally in the LUNC price.

As a crypto investor, I’ve noticed that the price of LUNC has seen a significant correction after a remarkable 200% surge this year, leaving it with only a 50% gain instead. However, the recent chart patterns suggest that a bullish breakout is on the horizon, potentially reaching the target price of $0.0005. At present, LUNC is trading at a lower price of $0.0001187, falling short of key support levels.

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2024-06-04 19:52