LUNC News: Controversial Proposal Separating Terra Classic From TFL, Do Kwon Passes
The controversial Proposal 11030 by Terra Rebels to separate the Terra Classic (LUNC) community from Terraform Labs and Do Kwon is seemingly passing. TFL staff Jared indeed pointed out earlier that it’s better for Terra Classic to separate from Terra (LUNA).
Volunteer developer group Terra Rebels proposed to separate the Rebel Station from TFL backend infrastructure and assets as TFL moves to work on a different cross-chain “Station” wallet and may end support for Terra Station soon.
Terra Classic Community Passes Proposal 11030
Terra Rebels’ controversial Proposal 11030 to seek 937,500,000 LUNC worth $150,000 to separate Rebel Station from TFL backend assets and infrastructure has passed. The proposal is part of the Terra Classic Revival Roadmap to become independent of TFL and Terra founder Do Kwon.
The community voted in favor of the proposal, with over 71% voting “Yes” and nearly 6% voting “No.” Over 20% have voted “Abstain” due to the controversial factor of solely depending on a team of volunteer developers for the future of Terra Classic.
Meanwhile, TerraCVita developer group is managing Terra Station after Terra Rebels chooses to work only on Rebel Station. TerraCVita in a tweet revealed voting No on the proposal and believes they can maintain TerraStation for free and save $150K of the community pool. The developer group currently works with TFL and Allnodes validator to run the Terra Station.
Validators have seemingly supported Proposal 11030, with 36 voting “Yes” on the proposal. Also, 12 validators have voted “No” on the proposal.
Can Terra Classic (LUNC) Price Rise Due to IBC Reopening
The reopening of IBC channel between Terra Classic and Cosmos chains will undoubtedly help bring back utility. It will also help drive the LUNC price to move higher.
On the first day after the reopening of IBC channels, the Terra Classic community has transacted over $111k through the IBC channel between the Terra Classic network and Osmosis. Terra Rebels core developer Edward Kim earlier pointed out that IBC reopening will help unblock assets.
Terra Classic (LUNC) price is trading at $0.000164, down 2% in the last 24 hours. The 24-hour low and high are $0.0001628 and $0.0001689, respectively. The community is awaiting the major v23 Terra Classic upgrade.
Also Read: Bitcoin (BTC) On-Chain Data Signals Bullish Sentiment, Is $20k Next?
- Expert Says Crypto ETFs Could Be ‘Death-Knell’ for Treasury Firms MSTR, MTPLF, BMNR, SBET
- Trump-Linked WLFI Passes 100% Buyback & Burn Proposal, Analyst Eyes Bullish Surge
- Crypto Market Liquidations Top $1 Billion Again With Ethereum Leading, Buy The Dip Opportunity Ahead
- Nasdaq-Listed AlphaTON Kicks Off Treasury Strategy, Buys $30M in Toncoin After $71M Raise
- XPL Token Soars 52% as Plasma Mainnet Launch Ignites Trading Frenzy
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
- Shiba Inu Price Eyes Recovery From Demand Zone With Burn Rate Soaring Nearly 400%
- Bitcoin Price: Analyst Predicts Crash to $104K Before Explosive Rally on Fed Cut Pattern
- HBAR Price Elliot Wave Signals an 86% Rebound as Key Risks Remain
- Will Pi Coin Price Recover Before Month-End After Payochain Listing?
- Chainlink Price Prediction as Whales Buy 800K LINK — Can the Demand Zone Launch a Recovery?
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.
