The official proposal 11030 from Terra Classic developer Terra Rebels is now up for community vote. The proposal will allow Terra Rebels to get 937,500,000 LUNC tokens worth $150,000 from the community pool for the development of Rebel Station. This allows the LUNC community to separate from Terraform Labs (TFL) and Do Kwon. However, the community is now considering whether LUNC would benefit from it.

Proposal 11030 by Terra Classic developer Terra Rebels

Terraform Labs has announced plans to end support for the Terra Station wallet to focus on the LUNA-specific cross-chain “Station” wallet as part of the latest developments. Terra Classic developer Terra Rebels was asked to make costly L1 changes to the blockchain before December 15.

Considering it impossible to complete in time, Terra Rebels announced proposal 11030 to become independent from TFL and Do Kwon. It was actually the final stage in the Terra Classic Revival Roadmap.

Terra Rebels also announced the end of support for Terra Station, allowing TerraCVita to manage Terra Station with TFL support.

Some feel the community should wait to vote if Jared from TFL communicated with TerraCVita to share API.Terra.Dev data that TFL might have to continue supporting Terra Station with TerraCVita. It also prevents $150,000 in LUNC that Terra Rebels has requested for its Rebel Station infrastructure and assets.

Voting ends in the next 6 days. So far, the proposal has 95% of the vote supporting it, as 12 validators, including StakeBin and Vegas Validator, have voted “Yes” to the proposal. “Crypto King Burn And Build” and “Classy’s Crypto Sphere” also supported the proposal. It should be noted that Terra Classic developer Vegas is also a lead signatory to the proposal, and other validators have yet to vote.

Could the proposal affect the LUNC price?

The price of Terra Classic (LUNC) could have some impact if the proposal is adopted by the community. LUNC price may plunge to $0.00010 as suggested by experts.

LUNC Price rose more than 6% yesterday but was unable to capitalize on the rally, erasing previous gains. Currently, the LUNC price is trading at $0.000171. The 24-hour low and high are $0.000168 and $0.000176, respectively.

Also Read: Has the Terra Classic (LUNC) Revival Rallyed to $0.001 Started?

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.

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