Sign Up on MEXC
Terra Luna Classic community-supported core developer group Joint L1 Task Force (L1TF) proposed a bug bounty program inviting security researchers, ethical hackers, and developers to identify and report vulnerabilities in the Terra Luna Classic network. The bounty will be provided solely from funds LITF received from the community.
Terra Luna Classic Bug Bounty Program
Joint L1 Task Force project manager LuncBurnArmy took to Twitter to announce that Proposal 11602 “Luna Classic Bug Bounty Incentive Program” is up for voting. As the developer group to focuses on reducing LUNC and USTC circulating supply in Q3, it aims to bring clarity on bugs in the Terra Luna Classic network. Some members claim a rise in bugs after recent upgrades.
Proposal 11602 is up for vote. This proposal would see the implementation of a bug bounty reward system implemented in Q3, which would incentivize end users and developers to report / fix any bugs found. #LUNC
— 🔥LuncBurnArmy🔥 (@luncburnarmy) July 4, 2023
According to the proposal, a bug bounty program will enhance security and network stability, foster collaboration and functionality, and reward contributors for identifying and reporting vulnerabilities. The rewards will be paid by L1TF and no separate community spend proposal is required for the bug bounty program. Initially, L1TF plans to allocate 50 million LUNC in Q3.
The bug bounty program is open to all community members, external developers, and security experts. It requires participants to adhere to responsible disclosure and legal and ethical standards such as avoiding public reporting of vulnerabilities and refraining from malicious activities.
The rewards planned under the proposal are as follows:
- Confirmed Station Bug: 150,000 LUNC
- Confirmed Station Bug with patch developed: 1M LUNC
- Verified L1 bug: 300,000 LUNC
- Confirmed security vulnerability (Station): 300,000 LUNC
- Confirmed security vulnerability with patch developed (Station): 1M LUNC
- ‘Day-zero’ critical security vulnerability reported: 5M LUNC
- ‘Day-zero’ critical security vulnerability patch developed, tested and approved: 20M LUNC
Until now, the Terra Luna Classic community and validators have favored the proposal. It has received 100% “Yes” votes from members and validators such as JESUSisLORD, Lunanauts, and DFLunc. The community agrees to the need for enhanced security of the network amid various developments.
Terra Luna Classic community pool balance has also dropped significantly as the community passed three community pool spending proposals.
Read More: Terra Luna Classic (LUNC) Community Pool Balance Drops To Critical Level
LUNC Price to Recover?
LUNC price is trading sideways, with the price currently trading at $0.000087. The 24-hour low and high are $0.0000866 and $0.0000886, respectively. However, the trading volume has increased slightly in the last 24 hours.
As per CoinGape Markets, LUNC price continues to move between the converging trendline of the triangle pattern. The triangle pattern breakout would bring bullish momentum to recover LUNC price to $0.0001 in the short term and $0.001 in the long term.
Also Read: Elon Musk’s Twitter Restricting TweetDeck Access Causing Exodus Of Crypto Community
- Breaking: Polymarket Partners With Chainlink To Boost Market Resolution Process
- Pi Network Upgrades Blockchain Protocol To Version 20 On Testnet, Pi Coin up 3%
- Galaxy Digital Boosts Solana Holdings as FTX Estate Unstakes $45M SOL
- XRP Whales Dump 40M Coins Despite ETF Anticipation, Here’s Why
- Ethena Labs Exits Hyperliquid USDH Bid as Polymarket Traders Back Native Markets
- Solana Price Forecast: Ford’s $1.65B Treasury Bet Sets Sights on $320
- Dogecoin Price Prediction as CleanCore Pushes Toward 1B DOGE Target- Is 92% Rally Ahead?
- SHIB Price Forecast as LEASH V2 Rollout Expands Cross-Chain — Is a 200% Rally Ahead?
- BNB Price Forecast as Binance–Franklin Templeton Deal Strengthens Path to $1,500
- Pi Network Price Wyckoff Theory Signals a Surge as One Whale Keeps Buying
