Terra Luna Classic’s Proposal for a Core Team

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The Terra Luna Classic (LUNC) community is currently engaged in voting on a crucial proposal aimed at establishing a core team responsible for overseeing the chain’s developments and other key decisions. 

This proposal comes in the wake of the disbandment of the core developer group Joint L1 Task Force (JL1TF) in March. The proposed core team would comprise key individuals, including developers and contributors, appointed by the community.

Proposal Details

The text proposal (no. 12093), titled “Establish a Terra Classic Team,” is currently up for voting on the Station wallet for the Terra Luna Classic community. If it gets approved, this proposal would be paving the way to establish a permanent team to be remunerated monthly from the community pool. It is also expected that the team is would work directly for the Terra Classic blockchain. This distinguishes it from Terraform Labs, serving Terra (LUNA). Details about the roles, salaries, responsibilities, and the number of developers will be determined in a proposal that is to follow, depending upon the governance approval of this initial proposal.

Also read: Terra Classic Price Prediction 2024, 2025, 2030: Will LUNC Price Recover $0.0005 This Year?

Community Engagement and Validation

The Terra Luna Classic community and validators will engage in discussions for determining the requirements, roles, and responsibilities of the proposed team on Commonwealth. In case of the proposal being rejected, a review of requirements, roles, and responsibilities will be undertaken until a positive vote is achieved. This signals an approval for the next phase of the process. Once the Governance ratifies the roles and responsibilities, the community and validators will collaborate on Commonwealth in order to nominate developers for the positions created.

Analysis of Price Performance 

In terms of price performance, LUNC has had a 1% increase over the last 24 hours, and the current price being $0.0001301. In spite of this uptick, trading volume has declined by 23% in the same period which indicates a subdued interest among traders. Meanwhile, LUNC futures open interest has also witnessed a modest increase, thereby suggesting a potential rebound that’s anticipated by traders.

On the contrary, USTC price has exhibited sideways trading patterns over the past week. The current price is hovering around $0.0250. Despite minor fluctuations, trading activity remains relatively stable, reflecting a cautious market sentiment.

Did you know? Terra Luna Classic Hits New Milestone with 5.5 Million Holders Amidst Rising Interest