Terra Classic recently unveiled a joint governance proposal centered around liquid staking derivatives. Building upon the momentum generated by this innovative initiative, another team has emerged with an ambitious proposal to bolster the platform’s technical capabilities.
Comprising six highly skilled and seasoned engineers, the Terra Allies senior engineering full stack team, dubbed the “Six Samurai,” aims to spearhead a new era of growth and the “true revival of the ecosystem.”
The team has submitted a comprehensive Q3 spend proposal, with a strong commitment to revitalizing the platform and unlocking its true potential.
Six Samurai: Revitalizing Ecosystem With Strategic Engineering
Presenting a comprehensive proposal for the third quarter of 2023, the team aims to secure a budget of $116,000 to fund their strategic roadmap.
Milestones of utmost importance are outlined in their proposal, starting with the migration from Columbus-5 to Columbus-6. This move signifies a commitment to staying at the forefront of technological advancements within the blockchain industry.
Furthermore, the team plans to upgrade to the latest Cosmos SDK, ensuring compatibility and improved functionality for Terra Classic users.
Central to their vision is a genuine revival of the ecosystem, an objective the team expresses their readiness to pursue with determination.
LUNC market cap currently at $530 million. Chart: TradingView.com
Not only are they dedicated to their own endeavors, but they also emphasize their eagerness to collaborate and coordinate with other teams responsible for the development of LUNC, the native token of Terra Classic.
This spirit of cooperation has resonated positively within the LUNC community, leading many to lean towards voting in favor of the proposal.
The Six Samurai’s roadmap encompasses various crucial initiatives. One such priority is the pursuit of listing Terra Classic on Keplr’s web interface. Keplr is a web tool known for its analytic visualizations, offering users valuable insights into blockchain data.
Additionally, the team aims to secure the listing on Mintscan, a prominent Cosmos block explorer catering to crypto exchanges and customers. These listings would enhance accessibility to Terra Classic and foster its integration into the wider blockchain ecosystem.
Terra Classic: Resilient Transformation
Terra, once a multifaceted ecosystem, experienced a significant upheaval in 2022, which reshaped its core components. The calamity befell its TerraUSD (UST) stablecoin and LUNA asset, leading to a series of profound changes within the project.
Now, Terra has emerged with a fresh blockchain called Terra 2.0, accompanied by a new asset bearing the name LUNA, commonly referred to as Terra (LUNA2).
In May 2022, the genesis block of the new chain marked the beginning of a transformative journey for Terra. The launch paved the way for future transactions, laying the foundation for the ecosystem’s evolution. Simultaneously, the original Terra chain underwent a rebranding process, henceforth known as Terra Classic.
Meanwhile, according to data from Coingecko, LUNC has decreased 1.65% during the last 24 hours. It presently occupies position 75 and has a market capitalization of $537.5 million as of this writing. The maximum supply of LUNC coins is unknown, but the current supply is 5.8 trillion.
Featured image from Vecteezy