Just-In: Terra Luna Classic Announces Bug Bounty Program, Is LUNC $0.001 Next?

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.

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