In a bold move by the Terra Classic (LUNC) community, a proposal has been floated to establish a central authority to end ongoing internal discord. Changpeng Zhao, the CEO of the global crypto exchange Binance, is the nominee for this newfound leadership role.
The proposal, numbered 11614 and submitted on June 29, arises from the community’s desire to swiftly resolve lingering conflicts within the Terra Classic ecosystem.
They believe a central authority will help reinvigorate the ecosystem by effectively managing blockchain resources, coordinating development activities, and making robust decisions that favor the resurgence of Terra Classic.
CZ: The Ideal Candidate
The individual touted for this daunting task is none other than Binance CEO CZ. The justification for his selection is rooted in Binance’s demonstrated support for LUNC burns, CZ’s well-established proficiency in cryptocurrency, and his access to abundant resources essential for development activities.
The community envisions CZ steering the Terra infrastructure, supervising L1 and L2 development activities, and taking the helm of governance decisions for LUNC, aiming to propel its value to the desirable $1 mark.
June 30th: A Key Turning Point
In a related development, the Terra Luna Classic community, on June 30th, approved a core developer Joint L1 Task Force (L1TF) proposal for Q3 chain developments and maintenance.
The main objective of the L1TF developer group is to hasten the reduction of LUNC and USTC supply by making use of the market module. However, this community approval came with a rejection: the Terra Allies ‘Six Samurai team, a proposed assembly of six senior developers to revive the Terra ecosystem, was turned down due to inadequate funds in the community pool.
The new LUNC community proposal for CZ’s leadership highlights the community’s pragmatic approach to resolving internal challenges and their determination to rejuvenate Terra Classic’s ecosystem. The result of this proposal could mark a pivotal turning point in Terra Classic’s journey.
Source: https://coinpedia.org/news/lunc-proposal-aims-to-appoint-binances-cz-as-leader-of-terra-classic-amidst-internal-turmoil/