Terra Luna Classic Backs Orbit Labs’ Proposal 12142

• Developer group Orbit Labs’ proposal to remove forked mainline modules from the Terra Luna Classic blockchain has received massive approval from voters.
• The community has also approved another proposal meant to enable access to TerraForm Lab’s (TFL) listings on popular aggregators.

The Terra Luna Classic (LUNC) community recently commenced voting on the Text proposal 12142 submitted by the developer group OrbitLabs. According to our latest checks, the proposal has received 99.97% “Yes” votes from validators and delegators including Allnodes, Stakely, and HappyCattyCrypto.

Hi #LUNC community! 🚀🚀
Our proposal #12142 has passed and received unanimous approval from the community. We are grateful for your support, thank you all! We will begin working immediately at the start of this week. pic.twitter.com/1YY6lH3HwI— Orbit Labs (@orbit__labs) October 28, 2024

What We Know About the Proposal 12142

According to our investigation, this proposal is meant to remove forked mainline modules from the Terra Luna Classic blockchain to improve sustainability, enhance security, reduce cost and debt, and subject the blockchain to a significant level of maintainability, as we earlier reported.

By removing the forked mainline modules, we aim to position Terra Classic for long-term sustainability and growth within the Cosmos ecosystem. We believe this approach balances the need for improvement with prudent risk management and community involvement. We welcome feedback and discussion from the Terra Classic community on this proposal.

Prior to this technical decision, the team had raised concerns about possible risks of missing important updates and facing an increasing operational cost if no action is taken on the forked versions of the network. This implies that Terra Luna Classic risked facing a security threat, higher expenses, and diminished competitiveness.

By diverging from the mainline Cosmos SDK and related modules, Terra Classic risks falling behind in adopting key enhancements and new features developed by the broader Cosmos community. This can limit Terra Classic’s competitiveness and make it more difficult to integrate future technologies, upgrades, performance improvements, and other innovations.

From the official release, the proposed solution to remove the forked mainline module and replace it with the standard Cosmos modules will be implemented in two phases. In the first phase, CometBFT would be unforked to the mainline version. On top of that, the team would engage in extensive testing to ensure network stability.

In phase two, Wasmd would be migrated to the “mainline Wasmd” coupled with several other processes listed to be executed. Meanwhile, a snapshot test would mark the end of the whole procedure.

Investigating this further, CNF disclosed that the total budget requested for this development amounted to $36,000. According to the team, phase one would require $16,000 in fiat value, and phase two would demand $20,000.

Details of Proposal 12141 Backed by Terra Luna Classic

In addition to the just approved proposal 12142, the majority of the voters in the Terra ecosystem voted “YES” to another proposal dubbed “Dealing with CoinMarketCap and Other Listings,” or Proposal 12141. According to the details provided by CNF, this decision would enable access to the TerraForm Lab’s (TFL) listings on popular aggregators.

As disclosed, the proposal appears necessary since TFL has been the only entity with the “keys” to update this important system despite its bankruptcy. Meanwhile, these platforms are very crucial in displaying price data, trading volume, etc. Amidst the backdrop of these important developments, TFL is preparing to wind down its operation by October 30 after filing for Chapter 11 bankruptcy in Delaware. This implies that important services like Alliance Hub, Mantlemint, FCD, and API services will shut down if no third party takes over.

Regardless, LUNC has effectively held its position against all odds as it currently trades at $0.00009. At press time, the asset was up by 3% in the last 24 hours.