Terra Classic (LUNC) Developers Revise Q3 Proposal

• L1TF proposes a maximum quota for LUNC supply in July and August.
• Terra Classic will transfer from Columbus-5 to Columbus-6 in August and September.

In Q3, the Joint L1 Task Force (L1TF), which is responsible for developing the basic infrastructure of Terra Luna Classic, submitted a new proposal to continue the network’s development and maintenance. The L1TF development team primarily aims to use the market module to improve and speed up LUNC and USTC supply reduction.

To help external teams like ‘quant’ for USTC repeg, the L1TF plans to enhance the Cosmos SDK, integrate Edward Kim’s Block Entropy AI app chain, allow Token Factory, and more.

Significant Updates

The project manager for the Joint L1 Task Force LuncBurnArmy has updated the Terra Luna Classic development team on a new proposal for Q3. The team has upgraded the Cosmos SDK to version 0.45.13 and Tendermint to version 0.34.24 and implemented a minimum validator commission of 5%, so they feel confident submitting their Q3 activities and budget.

L1TF proposes a maximum quota for LUNC supply in July and August, as well as an upgrade to a stable version of Cosmos SDK and testing of the market module in the USTC test environment. In order to reduce blockchain size and improve efficiency for validators and infrastructure providers, Terra Classic will transfer from Columbus-5 to Columbus-6 in August and September.

When it comes to Terra Classic and the ‘quant’ team for USTC repeg, the Joint L1 Task Force will collaborate with Edward Kim to implement the Block Entropy AI app chain. The proposed budget for the third quarter is $133,000 (1.48 billion LUNC). At the conclusion of each quarter, any remaining funds in the budget will be returned to the community pool.