Terra Rebels’ controversial proposal 11030 to separate the Terra Classic (LUNC) community from Terraform Labs and Do Kwon appears to be passing. Indeed, TFL contributor Jared previously pointed out that it is better for Terra Classic to disconnect from Terra (LUNA).

Voluntary developer group Terra Rebels suggested separating the Rebel Station from the TFL backend infrastructure and assets, as TFL will begin work on another cross-chain “Station” wallet and may end support for Terra Station soon.


Terra Classic Community passes proposal 11030

Terra Rebels’ controversial 11030 proposal to seek 937,500,000 $150,000 LUNC to separate Rebel Station from TFL backend assets and infrastructure has passed. The proposal is part of the Terra Classic Revival Roadmap to become independent from TFL and Terra founder Do Kwon.

The community voted in favor of the proposal, with over 71% voting “yes” and nearly 6% voting “no”. More than 20% voted “Refrain” because of the controversial factor of relying solely on a team of volunteer developers for the future of Terra Classic.

Meanwhile, the TerraCVita developer group manages Terra Station after Terra Rebels chose to work on Rebel Station alone. Terra CVita in one tweet revealed voting no to the proposal and believes they can maintain TerraStation for free and save $150K from the community pool. The developer group is currently working with TFL and Allnodes validator to run the Terra Station.

Validators apparently backed proposal 11030, with 36 voting “Yes” to the proposal. Also, 12 validators voted “No” on the proposal.

Can Terra Classic (LUNC) price hike due to IBC reopening

The reopening of the IBC channel between Terra Classic and Cosmos chains will undoubtedly help bring utility back. It will also help to increase the LUNC price.

On the first day after the reopening of the IBC channels, the Terra Classic community transacted more than $111,000 between the Terra Classic network and Osmosis through the IBC channel. Terra Rebels core developer Edward Kim previously pointed out that the reopening of IBC will help unblock assets.

The price of Terra Classic (LUNC) is trading at $0.000164, down 2% in the last 24 hours. The 24-hour low and high are $0.0001628 and $0.0001689, respectively. The community is waiting for the major v23 Terra Classic upgrade.

Also Read: Bitcoin (BTC) On-Chain Data Signals Bullish Sentiment, Is $20k Next?

Varinder is a technical writer and editor, technology enthusiast and analytical thinker. Fascinated by disruptive technologies, he has shared his knowledge about Blockchain, Cryptocurrencies, Artificial Intelligence and the Internet of Things. He has been associated with the blockchain and cryptocurrency industry for quite some time and is currently covering all the latest updates and developments in the crypto industry.

The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.

This post Controversial proposal to separate Terra Classic from TFL, Do Kwon Passes

was published first on https://coingape.com/lunc-news-proposal-separating-terra-classic-tfl-do-kwon-passes/


Write A Comment