Monday, March 20, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Altcoin News

LUNC News: Terra Classic Core Developer Edward Kim Proposal Up For Voting

news by news
December 27, 2022
in Altcoin News, LUNC price, News, Terra, Terra Classic
0
LUNC News: Terra Classic Core Developer Edward Kim Proposal Up For Voting
0
SHARES
36
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Republic Of China Announces Crypto Regulatory Body

Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason

LUNC News: Terra Classic Core Developer Edward Kim Proposal Up For Voting

Terra Classic core developers Edward Kim and Tobias “Zaradar” Anderson’s Proposal 11168 is up for voting. Former Terra Rebels developers submitted a proposal to form the “Joint L1 Task Force” developers team that will look into the maintenance upgrades and L1 layer developments on the Terra Classic blockchain.

Terra Classic Community Votes on Edward Kim’s Proposal

Professor Edward Kim, one of the core developers of Terra Classic, in a tweet on December 27 announced that Proposal 11168 “Joint L1 Task Force” is up for voting. The discussion on the proposal is ongoing since Saturday. The current sentiment indicates that the community supports the proposal.

According to the proposal, Terraform Labs had a team of 6-8 senior L1 blockchain developers. Therefore, Edward Kim proposes to hire 3 full-time L1 blockchain developers to complete tasks in the next 4 to 6 months. The team will move to more innovative and long-term advancements after finishing the pending tasks.

The proposed team will have three members from the community such as Zaradar, Edward, and Till. The proposal noted that these contributed significantly to the revival of Terra Classic. It includes re-enabled staking, re-enabled delegation, and introduced burn tax. Additionally, a part-time assistant and two junior developers will be required.

The total budget for the first quarter of 2023 is $141.75k, about 0.991 billion LUNC tokens. Notably, the distribution of payments will happen monthly only after approval from the Oversight Committee and approval from Terra Grants Foundation signers of the multisig.

As per current voting details, 99% of voters support the proposal. Also, the proposal looks to reach the “pass threshold” before the set voting period. Among validators, 25 have voted in favor of the proposal and 1 has voted “abstain.”

Also Read: Terra Classic Community Passes Crucial Proposal, Is LUNC Price $0.0005 Next?

LUNC Price Rally Continues

Terra Classic price skyrocketed nearly 20% in the last 24 hours, with the current price trading above $0.00018. The 24-hour low and high for LUNC are $0.0001549 and $0.0001848, respectively.

A breakout above the 3-month descending channel led to a rally of 50% since December 24. Terra Classic has reclaimed the $1 billion market cap, supported by an over 150% increase in trading volume in the last 24 hours.

Also Read: Terra Classic (LUNC) Price Soars 20%, More Rally Ahead?

The post LUNC News: Terra Classic Core Developer Edward Kim Proposal Up For Voting appeared first on CoinGape.

Related Posts

Breaking: Republic Of China Announces Crypto Regulatory Body
24/7 Cryptocurrency News

Breaking: Republic Of China Announces Crypto Regulatory Body

March 20, 2023
Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason
24/7 Cryptocurrency News

Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason

March 20, 2023
Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal
24/7 Cryptocurrency News

Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal

March 20, 2023
Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?
24/7 Cryptocurrency News

Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?

March 20, 2023
Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch
24/7 Cryptocurrency News

Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch

March 19, 2023
Don’t Take Balaji’s Bet of Bitcoin At $1 Million in 90 Days Seriously, Analysts Explain Why
Balaji Srinivasan

Don’t Take Balaji’s Bet of Bitcoin At $1 Million in 90 Days Seriously, Analysts Explain Why

March 19, 2023
Next Post
Bitcoin (BTC) Price To Breach Past $20,000 In Early 2023?

Bitcoin (BTC) Price To Breach Past $20,000 In Early 2023?

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Shiba Inu (SHIB) Ranks 2nd In Most Secure Crypto Projects: Report

Shiba Inu (SHIB) Ranks 2nd In Most Secure Crypto Projects: Report

January 10, 2023
Lower Crypto Tax In India Union Budget 2023?: What To Expect

Lower Crypto Tax In India Union Budget 2023?: What To Expect

December 20, 2022
Crypto Prices Today: Bitcoin and Altcoins Continue Trading In Red

Crypto Prices Today: Bitcoin and Altcoins Continue Trading In Red

March 6, 2023
XRP A Complete Scam? Ripple CTO Replies

XRP A Complete Scam? Ripple CTO Replies

February 4, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In