NewsletterLUNC News: Professor Edward Kim Transfers Admin Access To Terra Luna Classic L1TF
LUNC News: Terra Luna Classic core developer Joint L1 Task Force (L1TF) has received admin access to the Commonwealth forum from professor Edward Kim, a most trusted member of the community. With a proposal to improve governance and decentralization submitted by validator Happy Catty Crypto officially passed, the admin access is transferred to L1TF until a proposal to appoint admins.
L1TF Gets Admin Access To Terra Luna Classic Commonwealth
Joint L1 Task Force lead Vinh Nguyen in a tweet on August 2 revealed that professor and developer Edward Kim has transferred the admin rights of Commonwealth to L1TF. Moreover, ReXx has also revoked his admin right and becomes a moderator of the Commonwealth forum. However, Bilbo Baggins still remains an admin despite community concerns about it.
Proposal 11653 “Enhancing Governance And Decentralization In The Transition to Commonwealth” aims at addressing concerns that the transition from Agora to Commonwealth happened without community voting and transparency.
L1TF lead developer Vinh Nguyen should become admin until a new proposal is passed to determine future admins. Community-owned Station wallet will integrate the Commonwealth button, thus it’s crucial to reduce unfair control.
However, Quant USTC repeg team Bilbo Baggins denies turning down his admin rights due to the Commonwealth forum as believes it’s better for the community.
If you want to have a CW for Terra Classic, by all means please go ahead and make your own and see if the community engages with it. Do not try to use governance in an attempt to steal the one that I have made for the community.
— Bilbo Baggins (@OhhBilboBaggins) August 2, 2023
Also Read: Binance Burns 1.41 Billion Terra Luna Classic (LUNC) Tokens
LUNC Price Moving Sideways
Terra Luna Classic is trading below the $0.000082 support level after failing to hold the $0.000090 support level last month. However, the community can expect $0.000090 again if the price holds above $0.000085, as per a CoinGape Market analysis.
LUNC price jumped 2% in the past 24 hours, with the price currently trading at $0.000081 amid positive news. The 24-hour low and high are $0.0000788 and $0.0000818, respectively.
Also Read: Odds Of Spot Bitcoin ETF Approval By US SEC Rises To 65% – Bloomberg
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Labor Department Cancels October PPI Inflation Report Ahead of FOMC Meeting
- FOMC Meeting: Fed Expected to Approve Rate Cut on Dec. 10
- Bernstein Declares Bitcoin’s Four-Year Cycle Dead, Predicts $1M Target for BTC
- Breaking: Tether’s USDT Secures New Abu Dhabi Global Market Approval After Ripple’s RLUSD
- Ethereum Sees Fresh Tailwind as BlackRock Files for Staked ETH ETF
- Solana Price Set for $150+ as Bullish Sentiment Rises in Crypto Market
- Shiba Inu Price Eyes a Rebound as Exchange Supply Nosedives by 53 Trillion
- Dogecoin Price Prediction: Will $0.30 Be Next Target for DOGE?
- Top 3 XRP Price Predictions for December 2025: Could It Reach These Levels?
- Here’s Why Bitcoin Price Will Rally To $100k This Week
- Bittensor Price Breaks Above $300, Eyeing a 50% Surge Ahead of Halving
