LUNC News: Terra Luna Classic Network Upgrade; Joint L1 Task Force Q2 Plan

Terra Luna Classic core developer group Joint L1 Task Force submitted their plan and budget for Q2. The developer group completed several crucial blockchain upgrades such as the v1.0.5 hotfix and v1.1.0, bringing back the Binance LUNC burn mechanism.

Another major blockchain upgrade v2.0.0 is scheduled for release on March 31, which contains upgrades to Cosmos SDK v0.45.13 and Tendermint v34.24. The upgrade is necessary for moving forward with the plan to bring AI capabilities to the Terra Classic chain, as suggested by core developer and professor Edward Kim.

Proposals for Q2 include testing for the v2.0.0 upgrade and building the testnet, providing technical advice and development support for Ziggy USTC repeg and deploy v2.1.0, and parity with Cosmos blockchain. The community has expressed support for the Q2 plan of the Joint L1 Task Force group.

Furthermore, the group plans to work with an L2 team to develop Classic Station to introduce features such as on-ramp capability. It will further help in testing and scheduling upgrades while reducing the burden on third parties.

Edward Kim is kept out of the Q2 budget. He is working on AI sidechain development and other machine learning solutions to bring back utility to the chain through compatibility with Cosmos and Tendermint upgrades for dApps.

Terra Luna Classic Developer L1 Task Force Q2 Budget

The L1 Task Force Q2 development team will consist of Superman, Till, Tobias, Vinh, and will be managed by LuncBurnArmy. Separate governance proposals are outlined for USTC repeg, The L2 team, and Classic Station.

The total budget for Q2 is $139.5k, almost similar to $141.75k in Q1. This would be about 1.555 billion LUNC tokens. The budget corresponds to $3k, which averages to $1k per developer. Notably, the distribution of payments will happen monthly after approval from the Oversight Committee, and approval from Terra Grants Foundation signers of the multisig.

“This budget amount was ideal for Q1, and we would like to maintain this same OPEX amount moving forward. Note: Any unspent OPEX funds will either be rolled into the following quarter, or returned to the community pool should the L1 Task Force not be renewed.”

Some popular members of the community suggested discussing tasks accomplished by the developer group in Q1 before proceeding to approve the Q2 budget.

LUNC price currently trading at $0.00012, down 2% in the last 24 hours. The 24-hour low and high are $0.000121 and $0.0001251, respectively. Meanwhile, the USTC price also fell 2%, with price currently trading at $0.021.

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